From Amma's legacy to RBI monetary policy: 5 key developments

In other news, guidelines issued for cross-border electricity transactions

Business Standard brings to you a list of five key developments across the country.

Jayalalithaa’s legacy

Tamil Nadu’s 19th chief minister (she was also the 11th, 14th, 16th and 18th) J Jayalalithaa, who died on Monday, was known for gifting her 72 million people a record set of freebies, but she also leaves behind a state that ranks among India’s top five in many social, crime and industrial indicators.

Minting money (Part– 1): Salboni

Business Standard reporters have attempted to piece together stories of how new currencies are being printed after demonetisation at the  four presses — Salboni  (West Bengal), Dewas (Madhya Pradesh), Nashik (Maharashtra) and Mysuru (Karnataka) — which make the notes.

 

Tata vs Mistry

Alleging that individuals prone to “impulsive control” have exposed the Tata Group to perilous violation of regulatory requirements, ousted Tata Sons Chairman Cyrus Mistry on Tuesday said his fight is to protect the conglomerate from “capricious” decision-making by Interim Chairman Ratan Tata.

 

Cross-border trade of electricity

The power ministry late on Monday issued guidelines to facilitate cross-border trade of electricity. The Central Electricity Regulatory Commission will frame appropriate regulations binding on all participating entities. According to the guidelines, a participating entity will be eligible for cross-border trading on Indian power exchanges, including Indian Energy Exchange and Power Exchange India, in term-ahead contracts, intra-day contracts and contingency contracts.

 

RBI Monetary Policy

The Reserve Bank of India (RBI) imposed a temporary cash reserve ratio (CRR) over the weekend, on the incremental rise in bank deposits following the government’s demonetisation move. The measure, which will be reviewed on December 9 and was largely expected by analysts, aims to suck out excess liquidity in the system; though banks will not be able to earn any income on these deposits.