Economy News-Daily Digest: 4 Key updates

1. Berlin based online food takeaway service delivery Hero Holding GmbH has acquired online market place for food delivery Foodpanda.
2. The Union Government will amend the Reserve Bank of India (RBI), Act 1934 to extinguish the validity of old Rs 500 and Rs 1000. Reference to this effect would be made in the upcoming Budget in February 2017.

3. The SBI Cards & Payment Services (SBI Cards) will soon launch a credit card with a cap of Rs 25,000 for those at the lower strata of the society, who have the capacity to pay but don’t have cards.

4. State-run Oil and Natural Gas Corporation (ONGC) will set up a new ‘basin’ in Agartala by the end of 2017 to explore more oil and gas in the North-East region. ONGC’s North East operations are divided into two areas namely Assam Fold Belt from Silchar to Agartala and Assam Shelf from Jorhat to Duliajan.

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