From UP train derailment to Tata Power board meeting: 5 key developments

In other news, Prime Minister Narendra Modi says cheaper bank loans soon

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

Indore-Patna Express derailment

At least 120 people were killed and more than 200 injured on Sunday when 14 coaches of the Indore-Patna Express derailed near Pukhrayan area in Kanpur Dehat district, Uttar Pradesh, with railways officials saying the number of casualties could rise.

Demonetisation: Modi says banks will provide loans at cheaper rates

Prime Minister Narendra Modi claimed banks had received deposits worth Rs 5 lakh crore since he announced the demonetisation scheme on November 8, and would soon give loans at cheaper interest rates.

 

Gold import rises after demonetisation  

The demonetisation move seems to have brightened jewellers’ fortunes with many of them selling gold at 40-60% premium against accepting the banned currency notes. Even after the note ban, gold imports have been strong. According to estimates by GFMS Thomson Reuters, gold worth $2.8 billion has been imported in the first 17 days of November. Of this, $2.1 billion worth of gold was imported nine days after demonetisation.

GST faces deadlock

Most issues related to the proposed Goods and Services Tax (GST) taken up by the GST Council have been resolved. But administrative control over assesses has become a prickly matter, dividing the Centre and states. Even an informal meeting between Finance Minister Arun Jaitley and state finance ministers failed to resolve the matter on Sunday, five days ahead of when the GST Council is slated to take up the issue.
 

Tata Power board will meet on  November 29

Prominent chartered accountant Nawshir H Mirza is known for his involvement in corporate governance. Mirza, who has been a speaker on the topic at conferences across the world for years, is among the 12 directors on the board of Tata Power. He, along with several other independent directors, may make it a stormy affair when the Tata Power board meets on November 29, sources indicated.