From winter session of Parliament to petrol price cut: 5 key developments

In other news, Tata Global Beverages removes Cyrus Mistry as chairman

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

Demonetisation set to rock winter session

The winter session of Parliament beginning on Wednesday is likely to see a united opposition confront the Narendra Modi government over the problems faced by people following the move to demonetise Rs 500 and Rs 1,000 currency notes, with issues concerning farmers and one rank one pension (OROP) also likely to be taken up.

  

Tata Global replaces Mistry as chairman, appoints Harish Bhat

Amidst escalating stand-off between Ratan Tata and his estranged successor, group firm Tata Global Beverages on Tuesday replaced Cyrus Mistry with group veteran Harish Bhat as its chairman. This is the second Tata group firm where Mistry has been removed from the post of chairman since he was ousted as the chairman of group holding firm Tata Sons on October 24.

Indelible ink to track cash depositors

The government decided to introduce a system of marking customers exchanging defunct currency notes with indelible ink in a bid to tackle long queues and chaos in banks and ATMs and also check the operation of ‘money mules’ said to be bringing in cash to exchange for other people.

Vodafone hit by $5.5-bn India write-down

Mobile telecoms group Vodafone reported a first-half net loss of Euro 5 billion ($5.5 billion) on Tuesday, after writing down the value of its Indian business by the same amount due to the start of a price war sparked by a powerful new rival.

Petrol, diesel prices cut

In response to global prices and currency fluctuations, the three state-owned oil marketing companies (OMCs) have decided to lower the prices of petrol and diesel from midnight Tuesday. According to the Indian Oil Corporation (IOC), retail petrol price will be decreased by Rs 1.46 per litre and diesel would become cheaper by Rs 1.53 per litre, excluding state levies.