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Biz EOD: Rs 2,000 note mystery, Singh brothers in jail, FM invites global firms

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Biz EOD: Rs 2,000 note mystery, Singh brothers in jail, FM invites global firms
Top stories from the world of business and economy.

Going by the RBI's annual report for 2018-19 and a recent RTI query, the printing of new Rs 2,000 notes has halted altogether in the last 18 months. Delhi's Saket court on Thursday sent former Religare promoters Malvinder Singh, Shivinder Singh and 3 others to judicial custody till October 31 in a fund misappropriation case related to Religare Finvest Ltd. Union Minister of Finance Nirmala Sitharaman, while speaking at the IMF's headquarters in Washington DC, said there would be no better place to invest in the world than India. Read for more top stories from the world of business and economy:

1. Rs 2,000 note controversy: What is forcing RBI to stop printing fresh notes?

While the RBI has not specified any reason, the market is attributing it to hoarding of high value notes or the optimal size of Rs 2000 notes in the system

2. Religare fraud: Delhi court sends Singh brothers, Godhwani, 2 others to 14-day judicial custody

While Shivinder Singh and Sunil Godhwani were arrested on October 10, Malvinder Singh was arrested on October 11 over alleged misappropriation of Religare Finvest Ltd funds and causing losses of Rs 2,397 crore

3. FM Nirmala Sitharaman woos global firms; says no better place to invest than India

Taking a dig at China while making a pitch for India, the FM said though India's court system is a bit delayed, it's a "transparent and open society" where rule of law works

4. Ola announces big foray into self-drive car rental business, aims for fleet of 20,000 by 2020

Ola said it plans to offer more flexibility to users by giving them freedom to design their own package, and control everything from the number of kilometres and hours, to fuel inclusion

5. SBI launches contactless mobile payment facility for credit card holders

The contactless payment facility through mobile is built as part of the SBI Card mobile app providing ease to customers to use just one app to manage their credit card accounts

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