The opposition criticised the Narendra Modi government for the Reserve Bank of India’s (RBI’s) withdrawal of Rs 2,000 denomination currency notes on Friday evening, suggesting that the government might soon reintroduce Rs 1,000 notes as it did with the Rs 500 denomination notes in 2016.

Ruling party leaders, however, felt the step would check unaccounted money, which has grown over the last seven years, and help bring the focus back on the PM's efforts in his nine-year tenure at curbing corruption.

The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2,000 currency notes from circulation. The existing notes in circulation could either be deposited in bank accounts or exchanged by September 30, the RBI said in a statement.

The bank notes in Rs 2,000 denomination would continue to be a legal tender, the RBI statement said.

Japan's international payment brand JCB International Co will partner with National Payments Corporation of India (NPCI) and offer 40 per cent cashback to RuPay JCB cardholders on in-store purchases, the company said in an official release.

RuPay and JCB announced the third phase of a limited-time cashback campaign for all RuPay JCB Debit and Credit Cardholders. During the offer period, customers using a RuPay JCB Card will receive 40 per cent cashback on purchases made at retail stores in the UAE, Thailand, Malaysia, and Spain. In-store purchase means a face-to-face point of sale (PoS) transaction made at a merchant location.

Suzlon Energy Limited has secured an order to set up 23 wind turbines with a rated capacity of 3 MW each, the company informed the BSE in its filing dated May 19. Suzlon has received this order from a leading Nordic Energy Company.

This is Suzlon's fourth such order in less than a month. Previously, Suzlon had informed about the wind energy project orders it had received from Vibrant Energy, Juniper Green Energy, and First Energy.

Thomas Cook (India) Limited (TCIL)'s consolidated total income from operations for the March quarter of the previous financial year Q4FY23 grew by 150 per cent year-on-year (YoY) to Rs 1,320 crore, the company said in a media release.

The company's operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) at Rs 51.8 crore in Q4FY23 as aginst Rs 23.9 crore in Q4FY22. The standalone operating Ebitda for TCIL came at Rs 20.5 crore in Q4FY23 as against Rs 2.8 crore for Q4FY22.

Shares of Adani Total Gas were locked in the 5 per cent lower circuit for the fifth straight day, quoting at Rs 633.35 on the BSE on Friday, with no buyers seen on the counter. In the past six trading days, the stock has slipped 26 per cent. It is quoting at its lowest level since March 2021. Further. the stock has tanked 84 per cent from its 52-week high level of Rs 3,998.35, touched on January 23, 2023.

A combined 242,000 shares have changed hands, and there are pending sell orders for around 800,000 shares on the NSE and BSE, exchange data shows.

Amazon Web Services (AWS) WILL invest Rs 1.05 trillion into cloud infrastructure in India by 2030 as it looks to meet growing customer demand for cloud services in the country.

Amazon's cloud computing unit on Thursday said that the planned investment in data centre infrastructure in India will support an estimated average of 1,31,700 full-time equivalent (FTE) jobs in Indian businesses each year.

Elon Musk announced on Thursday that Twitter is launching a new feature which will help users who work with long-form video content.

He took to the social media network and said that Twitter Blue subscribers will now be able to upload two-hour-long videos. He said, "Twitter Blue Verified subscribers can now upload 2 hour videos (8GB)!"

Swiggy's food delivery business turned profitable in the March quarter of FY23 (Q4 FY23) after considering corporate costs and excluding employee stock options (ESOP), said its CEO in a blog post on Thursday.

Sriharsha Majety wrote about Swiggy's finances days after two US investors marked down their valuation of the company. A fund managed by asset management firm Baron Capital Group slashed the Swiggy’s valuation by 34 per cent to $7.1 billion as of December 2022, according to filings with USA's Securities and Exchange Commission (SEC).

As the government is moving to impose a price ceiling on essential medicines, the pharmaceutical industry is looking for an exemption from ceiling price for all low-priced formulations up to Rs 5 per unit, The Economic Times (ET) reports.

Citing people aware of the developments, the newspaper reported that the industry lobby met government officials to request an exemption from the implementation of trade margin rationalisation (TMR) for formulations that cost less than Rs 10 per unit as well.

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