Morning News Bulletin: Check top stories

By: | Published: August 31, 2017 9:15 AM

RBI report on demonetisation: An astronomical Rs 15.28 lakh crore, or 99 per cent of the junked 500 and 1,000 rupee notes, have returned to the banking system, the RBI said yesterday, prompting the Opposition to question the efficacy of demonetisation in curbing black money

RBI report on demonetisation: An astronomical Rs 15.28 lakh crore, or 99 per cent of the junked 500 and 1,000 rupee notes, have returned to the banking system, the RBI said yesterday, prompting the Opposition to question the efficacy of demonetisation in curbing black money

RBI report on demonetisation: 99% of scrapped 500, 1,000 rupee notes back in system

An astronomical Rs 15.28 lakh crore, or 99 per cent of the junked 500 and 1,000 rupee notes, have returned to the banking system, the RBI said yesterday, prompting the Opposition to question the efficacy of demonetisation in curbing black money. The Reserve Bank, which has so far shied away from disclosing the actual number of junked currency deposited after the November 8, 2016, decision, said in its Annual Report for 2016-17 that only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned. While the counterfeit currency made up for a minuscule number, RBI post-demonetisation spent Rs 7,965 crore on printing new Rs 500 and Rs 2,000 and other denomination notes, more than double the Rs 3,421 crore spent in the previous year.

Mumbai Rains: Mumbai slowly getting back to normalcy

As Mumbaikars began picking up the pieces of their lives after Tuesday’s deluge that sank the city and its satellite towns in a sea of misery, at least 10 people were reported dead due to drowning and wall collapse, officials have said. Nine people were washed away in separate incidents in Mumbai, while two lost their lives due to drowning in adjoining districts of Palghar and Thane. Another man was killed when a wall came crashing down on him in Mumbai’s Ghatkopar. Renowned gastroenterologist of Bombay Hospital Dr Deepak Amrapurkar has gone missing from near the Elphinstone Road station, and eyewitnesses claimed he drowned in a manhole in a flood street, police said.

Soon you will be catching domestic flights from Ghaziabad

The Indian Air Force has agreed to allow the use of its Hindon airbase for civilian flights under the government’s regional connectivity scheme (RCS), civil aviation secretary R N Choubey has said. The move will help to take the load off Delhi’s Indira Gandhi International (IGI) airport which is facing slot constraints with Hindon serving as the “second” airport in the national capital region for flights operating under the scheme. “In the second round of bidding for RCS, we expect a significant demand for slots for Delhi airport. We recognise that it will be difficult for DIAL to provide all the slots and we have pre-emptively taken up the matter with the IAF, which has gone out of the way to co-operate with us and make their airbase available to us,” Choubey told reporters at an ASSOCHAM event.

Airfares soar up to a whopping 80 pct on popular routes for Durga Puja to Diwali festive season period

If you are planning a holiday during the upcoming festival season that starts in late September with Durga Puja and ends with Diwali on October 19, chances are that you will have to shell out more for air travel. This is because airlines have hiked fares by between 30% and 80% on the country’s six busiest routes — comprising 70-75% of total passengers flown in a month — compared with what it was during the festive season last year. According to data made available by online ticket and travel booking platform Ixigo, the average airfares on the metro routes and in the top 10 sectors have seen double-digit increases, which is the highest in recent years.

Jubilant Foodworks, operator of Domino’s Pizza, retrenches 1115 workers in FY17

Jubilant FoodWorks, which has exclusive rights to operate Domino’s Pizza and Dunkin Donuts brands in the country, is going slow on expansion and even considering shutting a few unprofitable stores and retrenching staff in FY18. At the end of June quarter, the company had 27,369 employees. The company downsized 1,115 employees in FY17, according to its 2016-17 annual report. The company has also cut down on its expansion plans and is likely to add only 40 to 50 new Domino’s stores this financial year, compared to 100 to 150 stores added in the previous years, said Hari S Bhartia, co-chairman, Jubilant FoodWorks, at a conference call. The company’s main focus is on profitable growth. Throughout FY17, Jubilant FoodWorks shut down 14 Domino’s Pizza and 20 Dunkin Donuts outlets.

Relief for homebuyers, Yogi Adityanath government orders crackdown against Amrapali in greater Noida

The Uttar Pradesh government has ordered an inquiry into the financial details of Amrapali group, senior state government officials said. “We have asked the Greater Noida Authority to conduct an official inquiry into the financial status of Amrapali group. The government will take every possible measure to solve the issues of the distressed home buyers,” a senior government official said. “The authorities have been asked to use every possible law and provisions to ensure relief to buyers,” the official added.Home buyers have been suffering for the last three to eight years due to late delivery of flats in housing projects and had urged the state government to order a forensic audit of each builders’ accounts.

Coolpad Cool Play 6 priced at Rs 14,999 is a stylish smartphone, quite a performer too

Almost every other week, there’s a new mobile device that gets introduced in the market. Barring a few, such as the high-end Samsung Galaxy S8, OnePlus 5 or Honor 6X—which stand out primarily due to their good design, high-end specs and exceptional performance—most of these so-called ‘mobile wonders’ quickly fade away from consumers’ memory. There is little differentiation among them in terms of technology that goes inside them; appearance-wise too, they look identical and become just boring slabs in due course to time.

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