New notes are issued by the Reserve Bank of India (RBI)’s department of currency management.

It gets the notes from four presses. The Security Printing and Minting Corporation of India (SPMCIL) has presses at Nashik in Maharashtra and Dewas in Madhya Pradesh. The other two are owned by RBI, through a subsidiary, Bharatiya Reserve Bank Note Mudran (BRBNML), at Mysuru, Karnataka, and Salboni in Bengal.

German luxury car maker Mercedes-Benz, largest player in this segment in India, has expanded its product offering with the launch of 11 products this year, to maintain its lead over competitors Audi and BMW.

On Wednesday, it launched two new convertibles, priced (ex-showroom, Delhi) at Rs 60 lakh and Rs 2.25 crore, respectively.

To avoid long queues at toll plazas Pan India, the government today asked them to accept the old Rs 500 and Rs 1,000 currency notes till November 11 midnight.

The decision was taken after National Highways Authority of India (NHAI) Chairman Raghav Chandra took up the matter with the Prime Minister's Office after being flooded by calls from states over the grim situation at toll plazas.

The benchmark Sensex opened with a negative gap of more than 800 points on Wednesday amidst a global fall as report pour in of Donald Trump leading the U.S. presidential polls.

During the pre-open session, the benchmark Sensex fell 1,339 points or 4.86 per cent at 9:15 a.m., mirroring the massive fall in all other equity markets.

The nation’s largest lender SBI today said it is gearing up to make available “adequate number” of Rs 100 notes at all its ATMs and branches within the next two days to help reduce the inconvenience to the public after the government last night scrapped Rs 500 and Rs 1,000 banknotes.

SBI Group which includes all its five subsidiaries has 55,000 ATMs and 7,000 cash deposit machines (CDMs). SBI alone has close to 17,000 branches and serves tens of millions of customers.

A colourful billionaire businessman with a propensity to court controversies, Donald Trump single-handedly ran one of the most unconventional presidential campaigns in which political correctness was tossed out of the window.

Upending the 162-year old Republican Party, the 70-year-old real estate mogul from New York tapped into the disillusionment of the average American against the establishment, moulding it into vicious anti-immigrant rhetoric which proved to be an electoral gold mine.

The country’s second-largest private-sector lender, HDFC Bank, has reduced the interest rate on one-year fixed deposits by 25 basis points (bps) to 7%, lower than the 7.05% offered by the State Bank of India (SBI) on deposits of the same tenure. SBI had effected a 10-basis point cut on its one-year deposits, effective October 24, to push the rate down to a six-year low.

HDFC Bank has also slashed rates on its two-year and three-year fixed deposits by 25 bps each to 7%. SBI pays interest at the rate of 7% and 6.5% on its two- and three-year deposits, respectively.

The share price of real estate companies crashed on the BSE and the National Stock Exchanges on Wednesday a day after Prime Minister Narendra Modi announced the eradication of Rs 500 and Rs 1000 banknotes from the system effective November 8 midnight in a swift move to clamp down on black money in the system and against terror financing.

Market regulator Securities and Exchange Board of India (Sebi) has directed stock exchanges to look into the disclosures made by listed Tata group companies, particularly Tata Motors and Tata Steel to ensure compliance with the listing regulations.

The move comes following Cyrus Mistry's allegations about losses incurred by the Tata group due to various projects like Nano car, European steel business and Mundra power project.

The demonetising of the existing Rs 500 and Rs 1,000 notes will be a tough task for the banks to handle in the short-term as people will be queuing up to exchange the notes.

However, top bankers are unfazed by the decision. Top bankers said they would work round the clock to ensure that customers do not suffer and the situation is handled smoothly. Arundhati Bhattacharya, chairman of country’s largest lender State Bank of India said demonetisation of high value notes won’t be a problem as the bank has done it before.

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