500 Rupees and 1000 Rupees Banned from 9th Nov 2016

 *Summary of the important announcement :

 1. Black money issue, 500 rupees and 1000 rupees banned from Midnight.

 2. ATM's wouldn't wouldn't work on 9th and 10th November. Rather the withdrawal limit is Rs. 2000 only.

 3. All Residents have option till 30th December 2016, to deposit their existing cash balance of 500 and 1000 rupees in their bank accounts.

 4. ATM withdrawal is limited post 11th Nov to 10000 per day, but initial few days it would be 2000 Rs. Only.

 5. Emergency periods like hospitals and chemist, train ticket booking and airline ticket booking, petrol pumps may accept the old notes to 11th November.

 6. No changes in online, card, cheque or any other plastic money transactions.

 7. 9th November, banks wouldn't be available for public banking services.

 8. New notes of 500 rupees and 2000 rupees would bring in circulation, mostly from 31st March 2017.

 9. This one is not clear, but old notes can be exchanged with rbi till 31st March 2017. I guess post 30th December.

News Snippets
8th Nov 2016

Economic Times
Business Standard

Ø  Tata-Mistry feud: Cos may suffer debt blow if Tata guarantees expire

Ø  'UK eager to have free trade agreement with India'

Ø  Indian cos eyeing to raise money through masala bonds

Ø  UK wants India to speed up Vodafone, Cairn arbitration

Ø  'Clinton win may pose pricing challenges for pharma'

Ø  Hotel Industry warns tourism will suffer at 18% GST

Ø  4G expansion to take tower cos to new heights

Ø  Barack Obama leaves behind a legacy & debt burden

Ø  3 Tata directors hired minutes before AGM

Ø  Rural economy to be 2017-18 Budget's highlight

Ø  $1.55 bn penalty sought from RIL exaggerated, say analysts

Ø  Theresa May visit: India, UK to sign over Rs 8,300 crore business deals

Ø  Cabinet to take final callI on listing of PSU insurers this month

Ø  ICICI Bank Q2 net up 2.37% at Rs 3,102 crore

Business Line
Mint

Ø  Cognizant Q3 net up 12% at $444.4 mn

Ø  MCX aluminium hovers at crucial resistance

Ø  Nifty 50 futures listed on Taiwan Futures Exchange

Ø  Britannia Q2 consolidated net up 5.80% at Rs 234 cr

Ø  4% price fluctuation limit in pepper futures irks traders

Ø  Defence Ministry approves new blacklising policy

Ø  Rupee closes marginally lower against US dollar

Ø  Cairn-ONGC deal: Delhi HC gives Centre one last chance

Ø  Cognizant finds ‘improper payments' of $5 mn made in India

Ø  United Bank of India’s Q2 net profit falls 30% to Rs43.53 crore on bad loans

Ø  Cyrus Mistry said to have proposed doubling dividend to Tata’s owners

Financial Express
Financial Chronicle

Ø  BSE Sensex ends over 95 points down at 27,430.28, NSE Nifty settles at 8,484.95

Ø  Delhi High Court asks Hotel Leela Venture to pay Rs 258 crore royalty to AAI

Ø  India hopes early extradition of Vijay Mallya after May-Modi talks

Ø  Farmers stage protest at WHO tobacco conference venue

Ø  Central govt may opt for fiscal deficit band

Ø  Gold falls most in a month as FBI's late twist favours Clinton

Ø  Future Group signs pact to acquire Heritage Foods biz

Ø  Foreign investors seek speedy resolution of Tata-Mistry feud

Ø  High imported coal price may hit power sector

Ø  Britain's exit from EU a 'positive' for India.