Cuts in the lending rates across the board by banks is set to lower borrowing cost for customers, in a boost to auto and real estate, both of which have been reeling after demonetization. ICICI Bank cut its rate by 0.90%, SBI by 0.70%, and other banks cut rates at levels ranging from 0.15-0.70%.A revival in lending and credit could boost the economy amid worries that people are curbing back spending towards a new, lower normal, as manufacturing contracts overall and new investment falls.

The government has said that service charge is not mandatory for customers to pay in hotels and restaurants; restauranters have responded that this will impact the earnings of restaurant employees, who depend on the service charge for their pay. The Association has said that diners dissatisfied with their dining experience can have the service charges waived off their bill.

The BSE has detected unusual trading volumes for Hindustan Copper and the shipping company Dredging Corporation, and has sought an explanation from the firms.  

Stock in spotlight: Suven LifeSciences, which has landed two new patents from Eurasia and Norway for the treatment of degenerative diseases including Alzheimer's, Parkinsons and schizophrenia. 

Photo of the day: Seven year old Ashima plays with her unusual-colored pet chick in Mumbai. Shailesh Andrade/Reuters