From Trump's inauguration to Jallikattu ordinance: 5 key developments

In other news, RBI Governor Urjit Patel has been asked by the PAC to appear before it again

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

The era of Trump begins

Donald Trump was sworn in as the 45th president of the United States on Friday. During his inauguration, he delivered a fiery attack on the Washington establishment in which he vowed to return power to the American public and deliver on the pledges he had made in his campaign. "Today we are not merely transferring power from one administration to another or from one party to another,” Trump said in his inauguration speech, adding, “We are transferring power from Washington, DC, and giving it back to you, the people.”

After 4 days of protests, Centre clears Jallikattu ordinance

Moving swiftly, the Centre on Friday night cleared an ordinance on the ancient bull taming sport of Jallikattu. With this, the Tamil Nadu government can promulgate it in an effort to end the protests that have paralysed the state for the past four days. Officials said that the Home Ministry cleared the ordinance after the Law Ministry approved the draft ordinance proposed by the Tamil Nadu government to enable resumption of Jallikattu. 

Urjit Patel to give written reply, appear before PAC again

Unsatisfied with his responses to specific queries on demonetisation, the Public Accounts Committee (PAC) of Parliament on Friday asked Reserve Bank of India (RBI) Governor Urjit Patel to furnish written replies to the concerns expressed by the members within two weeks and appear before the panel again. Patel, along with Deputy Governor R Gandhi and other senior functionaries, appeared before PAC for oral evidence on “Review of Monetary Policy”. According to sources, Patel did not give specific answers on who initiated the note ban, how much cash had come back into the banks and when the cash supply situation would normalise.

Motherson's latest acquisition puts it on path to realise $18-bn annual revenue target by 2020

The country's biggest automobile component maker, Motherson Sumi, on Friday announced the acquisition of Finland-based PKC Group for $609 million, or Rs 4,150 crore. PKC Group, a wiring harness maker, would be Motherson's largest overseas acquisition. Aside from being one of the biggest acquisitions by any Indian automobile company, it puts Motherson Sumi firmly on the path to realising its annual revenue target of $18 billion by 2020. In FY16, its revenue grew to $5.7 billion, through overseas acquisition. 

Sebi refuses to step into Mistry-Tata affair

In a blow to ousted Tata Sons chairman Cyrus Mistry, the Securities and Exchange Board of India (Sebi) has taken a view that the allegations of corporate governance lapses made by him might not warrant the regulator’s intervention. According to Sebi, the boards of companies are “the best decision makers” and are supposed to “exercise their power of decision making in good faith”.