The RBI has announced a monthly withdrawal limit of Rs. 10,000 from Jan Dhan accounts. Any additional amount required, the Central Bank said, will be issued and documented by banks on a case by case basis. Finance Minister Jaitley noted that the step was taken because the government suspected these accounts were being used to launder money. In the meantime Sensex began to show hints of recovery, rising for the fourth day in a row. Analysts say that they are expecting the cash situation to fully stabilize in four to six weeks. However salary payouts and withdrawals starting beginning of December is likely to lengthen queues at banks and ATMs. 

A senior engineering head at Flipkart is departing the startup to join Airbnb, while the head of Flipkart's yet to begin private label business has also departed the company, in the wake of seven high-profile exits previously in 2016. Flipkart saw better festival sales compared to Amazon, but Morgan Stanley once again cut its Flipkart share valuation this week. 

Stock in spotlight: Essel Propack, which has hit a new 52 week high. The company's recent Q2 results announced end October showed net profits up 27%.

Photo of the day: Hindus in Kathmandu, Nepal light oil lamps in honor of the recently departed at the Bagmati River. Narendra Shrestha/The Guardian