Top headlines: India challenges Vodafone arbitration; Flipkart rejigs board

RBI stresses on the need to fight inflation, Automakers in India are bracing for a parts shortage, and more top headlines of the day

India challenges arbitration ruling in Vodafone case 
 

India has challenged in Singapore an international arbitration court's verdict against it over a $2 billion tax claim involving Vodafone Group Plc, a senior government official told Reuters on Thursday on condition of anonymity. Vodafone in September had won the case against India, ending one of the most high-profile disputes in the country that had caused concern among investors over retrospective tax claims on companies. Read here

RBI sees economy recovering faster

Indian economy is recovering faster than expected and may post minor positive growth in the third quarter, but efforts