Top BJP leaders, including Prime Minister Narendra Modi and Home Minister Amit Shah greeted party veteran L K Advani on his 92nd birthday, recalling his contribution to national politics, and also in building the party and propagating its ideology.

Prime Minister Narendra Modi on Friday met veteran Bharatiya Janata Party (BJP) leader LK Advani at his residence here and wished him on his 92nd birthday. Vice President Venkaiah Naidu, BJP President Amit Shah and BJP working President JP Nadda were also present.

On November 8, 2016, Prime Minister Narendra Modi announced to the nation that Rs 500 and Rs 1,000 currency notes — 86 per cent of all currency notes in circulation in value — would cease to be legal tender. The stated objectives were unearthing black money, cracking down on counterfeit currency, and choking terror financing.

Unsurprisingly, there were strong reactions both in favour of and against the unprecedented move, which would come to be known as ‘Demonetisation’ or ‘note ban’. While some hailed it as a courageous step against impropriety that was hurting the economy, others saw the move itself as disastrous for the economy.

India’s credit ratings outlook was cut to negative by Moody’s Investors Service, the first step toward a downgrade, as concerns mount the economic slowdown will be prolonged and debt will rise.

Moody’s projects a budget deficit of 3.7% of gross domestic product in the year through March 2020, a breach of the government’s target of 3.3%, as slower growth and a surprise corporate-tax cut curbs revenue. The foreign currency rating was retained at Baa2, the second-lowest investment grade score.

Demonetising the country’s highest-valued note is among the many suggestions made by former Finance Secretary Subhash Chandra Garg in a note to the government on Thursday. The 72-page note also talks about how the government needs to have an active policy of de-nationalising public sector undertakings (PSUs) and promoting privatisation, manage its own debt instead of falling back on RBI, and discontinue off-Budget borrowing, besides demonetising Rs 2,000 notes.

Bajaj Finserv, India’s second-most valuable non-banking finance company (NBFC), has intensified competition in the already cut-throat broking space. Its fully-owned subsidiary Bajaj Financial Securities (BFSL) has joined the zero-brokerage bandwagon for an annual subscription fee of Rs 500.

Apart from zero brokerage, the brokerage is offering multi-platform trading, call and trade facility and leverage of up to 20 times.

Chief Justice of India (CJI) Ranjan Gogoi is likely to meet Uttar Pradesh Chief Secretary, Director General of Police and other senior police officials today over preparedness ahead of probable Ayodhya verdict.

The verdict in the Ram Janmabhoomi-Babri Masjid land dispute case is expected to come by November 17, before the retirement of Ranjan Gogoi as CJI.

Real estate major DLF reported a 19.8 per cent year-on-year drop in consolidated operating revenue for the July-September quarter, to Rs 1,716 crore. Expenses towards cost of land, plots, constructed properties and developmental rights dropped 28 per cent, to Rs 885 crore.

During the quarter, it utilised Rs 1,036 crore (of the Rs 2,250 crore it had got against exercise of warrants in June) towards repayment of bank loans. And, another Rs 149.5 crore for working capital requirement, including loans to subsidiaries.

PNB Housing Finance on Thursday said that LIC has invested Rs 2,500 crore in the company by subscribing to its secured redeemable non-convertible debentures (NCDs).

This issuance is through private placement basis with a door-to-door tenure of 10 years, and the proceeds will be utilised by the company for its normal course of business operations, the company said.

Shares of Jindal Steel & Power (JSPL) hit an over four-month high of Rs 150, up 11 per cent on the BSE on Thursday on expectation of raw material benefits led by lower coking coal costs to offset the decline in steel prices in the near term.

The stock of the steel company was trading at its highest level since June 27, 2019. It has rallied 60 per cent in the past one month.

Top Indian airline IndiGo said on Thursday it signed a one-way codeshare agreement with Qatar Airways, letting the Middle Eastern airline get more access to the fast-growing Indian market.

The agreement will enable Qatar Airways to place its code on IndiGo flights between Doha and Delhi, Mumbai and Hyderabad, the companies said.

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