Top 10 biz headlines: Services PMI surges, economic fixes on cards & more

From retail investors forfeiting Rs 1.33 trn since Budget to govt pushing banks to cut rates in slowdown battle, here are the top 10 business headlines on Tuesday

1) India's services PMI hits a year's high in July on new business orders

Services sector activities in July not only returned to growth territory from contraction in the previous month but expanded to a 12-month high on new business orders, showed the widely-tracked Nikkei purchasing managers’ index (PMI).

PMI rose to 53.8 in July from 49.6 in June. In PMI parlance, a print above 50 means expansion while a score below that denotes contraction. (Read more here)

2) Sector-specific steps to tackle slump on cards, says Nirmala Sitharaman

As the government looks for ways to tackle the