A look at the headlines in this sector right now:

  1. RBI keeps repo rate unchanged at 6.25%, hikes reverse repo rate to 6%: The decision came as no surprise as economists had expected the central bank to focus on taking out the extra liquidity from the system.
  2. Banks yet to clear dues up to Rs 110 crore for demonetisation services by cash logistics firms: Some banks delayed the payments reportedly because they thought the companies were doing the work in national interest.
  3. Despite an 80% revenue jump, Zomato COO says 2016 was a difficult year: The company’s cash burn in 2016 was far higher than that in the previous year.
  4. Sensex, Nifty close the day in red following RBI’s repo rate announcement: The BSE ended at 29,927.34 points, while Nifty, which fell three points, managed to cross the 9,200 mark.
  5. Facebook launches campaign against ‘revenge porn’ with its Report tool and photo-matching technology: The company will thwart the circulation of intimate images on their platforms without permission, once reported.
  6. Govt approves formation of Rail Development Authority to look into rail fares: Tariffs are expected to go higher in the coming months as the committee will charge tickets based on current market prices. 
  7. YouTube unveils new application specially designed for Indian users with slow internet connectivity: Users will be allowed to preview videos before they choose to watch any content in order to save data.