Five must-read stories—December 30

₹4 lakh crore of cash deposits so far may be suspect, estimates IT

Based on initial estimates that as much as ₹4 lakh crore of undisclosed funds may have flown into bank accounts post-demonetisation, the Income Tax department is gearing up to serve notices on those who cannot explain the source of the money, reports The Times of India.

Demonetisation blues: Only 40℅ ATMs have cash

Fifty days after Prime Minister Narendra Modi announced the demonetisation policy, an acute shortage of currency persists at ATMs across the country with only 35-40% of the 2.2 lakh machines dispensing cash, reports The Indian Express, quoting leading deployers.

UP CM Akhilesh Yadav circulates own list of candidates

Uttar Pradesh Chief Minister Akhilesh Yadav on Thursday circulated a list of more than 200 candidates preferred by him, a day after his father and Samajwadi Party chief Mulayam Singh formally released a list of 325 candidates that omitted many Akhilesh loyalists, reports The Hindu.

PPA suspends Arunachal CM, Deputy CM from primary membership

In a fast-paced development, the Peoples’ Party of Arunachal (PPA) late on Thursday night suspended Chief Minister Pema Khandu, Deputy Chief Minister Chowna Mein and five other party MLAs from the primary membership of the party temporarily with immediate effect for alleged anti-party activities. A PTI report in The Hindu.

Obama slaps sanctions on Russia, expels 35 agents over election hacks

The Obama administration hit Russia with sanctions on Thursday and expelled 35 Russian intelligence agents over suspected cyber attacks aimed at influencing the US presidential election. This move highlighted another rift between President Obama and President-elect Donald Trump, who urged the administration to move on from the episode, reports The Washington Times.