The Indian government has announced a series of steps to ease the pain of demonetization. In addition to disbursing $3.07 billion worth of loans to farmers, the RBI has doubled the amount of money that can be kept in digital wallets to Rs. 20,000. This the bank says, would enable small merchants to accept more payments digitally, and merchants can also transfer up to Rs. 50,000 to their bank accounts per month. 

Mistry continues to cast doubt on Ratan Tata's ability and his business decisions, saying that Tata had acquired the Anglo-Dutch company Corus at a steep $12 billion price tag and at the peak of a price boom, when it had been available for half that amount a year earlier. The acquisition, Mistry challenges, took place over the doubts of board members and executives, hurting the health of the acquisition because Tata Steel was strapped for funds and unable to invest significantly in the company. As a result, the recession put the acquisition at risk. Tata Steel had said earlier this year that it was looking to sell the UK business of Corus.

The world's wealthiest 10% own 89% of all global assets, while in India the richest 1% owns 58.4% of India's wealth, according to the latest Credit Suisse report. Switzerland continues to be the richest country in the world - an average Swiss is eleven times wealthier than an average world citizen.   

Stock in spotlight: Vakrangee Limited, which leads the technical score gainers and has hit a new 52 week high this past week. 

Photo of the day: A recreation of the Titanic ship's sinking, made with Lego blocks. Dan Peled/AAP