Business Standard News Digest: Jio beats Facebook & WhatsApp and more

Your daily dose of handpicked news from Business Standard and elsewhere

The government has clarified that gold inherited or purchased out of disclosed income will not be taxed. No seizure of gold jewellery to extent of 500 gms per married lady, 250 gms per unmarried lady and 100 gms per male, Finance Ministry said. Read about it here

RIL Chairman, Mukesh Ambani announced that Reliance Jio has acquired 50 million subscribers in the last three months, beating Facebook, WhatsApp and Skype in growth. He also announced the big Jio move of extending free calls and data services to new users till 31st March 2017. Existing users will also get the same benefits. Read more here

The cyberworld has been abuzz with the Twitter accounts of Indian National Congress and its vice president Rahul Gandhi being hacked. How could someone do it? Read this report to find out.

On payday today, there was chaos at banks and ATMs with people struggling to find some cash. Banks ran out of cash within hours of opening. Read about it here

How is the regional press reporting on demonetisation? There are reports about a bank manager being taken hostage and old notes being converted to new ones using fake Rs 2,000 notes. More details in this report here

Demonetisation has hurt business in the city famous for its brassware, Moradabad. Artisans and craftsmen struggle as drop in sales has been severe. Detailed report in Business Standard here

More stories from the internet

To fight the shortage of cash and to help smoothen toll booth operations on national highways, the road ministry may issue coupons of value between Rs 5 and Rs 100 that would work exclusively at toll booths. Read this Indian Express report for more

The Supreme Court’s ruling on playing the National Anthem before every film in theatres follows on from a similar case involving the same judge and petitioner who had first got involved in this case 13 years ago in Madhya Pradesh. Indian Express has the detail here

Pakistan’s Prime Minister Nawaz Sharif had a conversation on the phone with President-Elect Trump and the conversation is a riot in itself. To read more about the fantastic conversation between the fantastic leaders of the fantastic countries read this report in Washington Post

Economists have predicted a bleak outlook for the economy thanks to demonetisation. Are they right? Are the signs visible? Answers in this Business Standard report here

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