From RBI keeping rates unchanged to AirAsia coming under ED lens: 5 key developments

In other news, Arvind Panagariya has said that the economy could return to 8% growth by end of 2017-18

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

Demonetisation, US rate hike make RBI press pause button on rates

The monetary policy committee headed by Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday unanimously decided to keep the policy rate unchanged at 6.25 per cent, considering financial volatility related to an interest rate hike in the US and demonetisation at home.

Ratan Tata seeks shareholder support for removing Mistry

Seeking support of minority shareholders to remove his former protégé, Cyrus Mistry, Tata Sons Interim Chairman, Ratan Tata on Wednesday said the former chairman’s presence on the boards of various Tata group companies was a serious disruptive influence.

FEMA trouble: ED lens on AirAsia India

The Enforcement Directorate (ED) has issued summons to AirAsia India in connection with alleged violations of Rs 22 crore under Foreign Exchange Management Act (FEMA).

Economy to return to 8% growth by end of 2017-18, says Arvind Panagariya

Economic growth in the third quarter of the current financial year (2016-17) — and the fourth quarter, to a lesser extent — would be impacted by demonetisation, according to National Institution for Transforming India (NITI) Aayog Vice-Chairman Arvind Panagariya. In a conversation with Indivjal Dhasmana & Sanjeeb Mukherjee, he said the economy could return to 8% growth by the end of 2017-18. Edited excerpts:

SoftBank founder pledges $50-bn investment in US

The brash and outspoken founder of SoftBank, Masayoshi Son, has long been known for his outsize ambitions, from taking on the United States’ biggest telephone companies to creating a $100 billion fund for technology deals.