The government has changed its stance on the fit needed for RBI governorship, now saying that it would prefer an economist in the role. An announcement is imminent and Panagariya, who holds a PhD from Princeton, is according to officials a well-liked option. BS
The Coal India board has approved a proposal to buy back 108.9 million shares for Rs 335 each. The price offered for the buyback represents a 4.5% premium over Monday’s closing price. LiveMint
The Karnataka government now wants to revoke the cab aggregator licence it had issued Ola, saying that the company has violated its rules by implementing surge pricing and shuttle services. This comes a couple of weeks after Ola's public comments about Uber not following India's rules and regulations. FE
The rural customer, whose budget has been stretched in the last year, has chosen to buy mobile internet recharges over cola and sweets. The mobile internet base has doubled as a result in rural India, with the main use being for entertainment. ET
Photo of the Day: A deserted street during a Srinagar curfew. Reuters
