From Bharat bandh to Nabha jailbreak: 5 key developments

In other news, Urjit Patel says RBI taking steps to ease citizens' pain due to demonetisation

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

Bharat bandh against demonetisation

The demonetisation exercise by the Modi government has brought a rarely seen unity among opposition parties, but they stand divided over the way they would protest against the measure on Monday. While the Left parties, including the Communist Party of India (Marxist) and CPI have called a 12-hour bandh to protest against demonetisation of old high-value currency notes in West Bengal, Mamata Banerjee's Trinamool Congress will not join it and only hold protests. The Congress too has decided not to go for a bandh.

 

Urjit Patel says RBI taking steps to ease citizens’ pain due to demonetisation

Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible. Patel also said the RBI has announced an incremental CRR (Cash Reserve Ratio) of 100 per cent "because of the large increase in deposits of banks on account of the return of Rs 1,000 and Rs 500 notes" and the decision would be reviewed immediately once the government issues adequate quantum of MSS (Market Stablisation Scheme) bonds which they have promised to do.

Tata Global initiates a second legal process to oust Mistry 

Tata Global Beverages has initiated a second legal process to oust Cyrus Mistry as chairman, by moving a circular resolution among its board of directors. Dated November 25, it is being initiated “for abundant caution”, within days of TGB formally removing Mistry as chairman by voting – seven of the 10 directors had voted against Mistry.

 

Crash test safety norms for cars

Carmakers might have to meet frontal crash test norms a year before the deadline of October 2018 for existing car models. A draft notification proposes to make frontal air bags mandatory in models manufactured after October 2018, while companies had been preparing to offer it from October 2019. All new models launched from October 2017 need to meet these norms. Advancement in case of existing models will create additional challenges for carmakers who are already under pressure of meeting BSVI emission norms from April 2020 against an earlier deadline of April 2023.

Nabha jailbreak

UP Police claimed to have arrested 1 of the armed men involved in the sensational jailbreak in Patiala in which a Khalistani militant outfit chief and 5 other prisoners escaped. Parminder alias Penda was travelling in an SUV when his vehicle was intercepted by police at a check post in Kairana in Shamli district in western Uttar Pradesh, police said.