Top headlines: Airtel hikes tariffs by 20%-25%; RIL m-cap erodes Rs 72k cr

Business Standard brings you the top stories this evening

Airtel prepaid plans to cost 20%-25% more from Nov 26: Here are the details

Telecom operator Bharti Airtel on Monday announced 20-25 per cent tariff hikes for various prepaid offerings, including tariffed voice plans, unlimited voice bundles and data top-ups, and said the new rates will come into effect from November 26. 

The entry-level tariffed voice plan has been raised by about 25 per cent, while for unlimited voice bundles, the increase in most cases is about 20 per cent. Read here

Aramco deal collapse hits RIL shares, market cap loss at Rs 72,000 cr

Shares of Reliance Industries fell by 4.42 per cent on Monday after the company announced during the weekend that its plans to sell stake in its oil to chemicals business to Saudi Aramco has collapsed. The company lost Rs 72,000 crore of investors’ wealth on Monday as its shares closed at Rs 2,363 a share and total market capitalisation fell to Rs 14.99 trillion. Read here

RBI issues draft scheme for PMC Bank's takeover by Unity Small Finance Bank

The Reserve Bank on Monday came up with a draft scheme for the acquisition of Punjab and Maharashtra Cooperative (PMC) Bank by Delhi-based Unity Small Finance Bank (USFB).

The draft scheme of amalgamation envisages the takeover of the assets and liabilities of PMC Bank, including deposits, by the USFB, thus giving a greater degree of protection for the depositors, the Reserve Bank of India said. Read here

AP Assembly passes bill to repeal Act intending 3 capitals for the state

The Andhra Pradesh Legislative Assembly on Monday passed a Bill to repeal the controversial AP Decentralisation and Inclusive Development of All Regions Act, 2020, that was intended to establish three capitals for the state.

Chief Minister Y S Jagan Mohan Reddy, however, told the Assembly his government would bring a "comprehensive, complete and better" Decentralisation Bill. Read more