Intellectual Property rules amended
The Union Ministry of Finance has amended Intellectual Property rules to revoke the power vested with Customs authorities to seize imported products based on complaints of patent infringement.
Court notice on vacancies in information panels
The Supreme Court directed the Centre and eight State governments to respond to a petition highlighting that a large number of vacancies in the Central Information Commission and the State Information Commissions have crippled the Right to Information Act and resulted in a huge backlog.
Infrastructure sector growth at 10-month low
Affected by decline in production of crude oil and natural gas, the growth in eight infrastructure industries dropped to a 10-month low of 3.6% in May.
Manufacturing PMI strongest in June
According to the Nikkei India Manufacturing Purchasing Managers survey, India’s manufacturing sector activity in June grew at the strongest pace in 2018, aided by a rise in domestic and export orders .
Mehta panel for stressed assets
The Sunil Mehta Committee, set up to look into the faster resolution of stressed assets, has recommended the creation of an asset management company for the resolution of stressed loans worth more than Rs.500 crore
Rupee hits record low
The rupee plunged to an all-time low of 69.09 against the US dollar intra-day, as fears over rising crude oil prices, portfolio outflows and tariff wars.
India among least vulnerable to currency pressures: Moody’s
Even as the rupee fell below the 69 level intra-day against the dollar, global rating firm Moody’s has said India is among the least vulnerable to currency pressures because of its low reliance on external capital inflows.
Indian money in Swiss banks rises 50%
Money parked by Indians in Swiss banks rose over 50% to 1.01 billion swiss francs (Rs7,000 crore) in 2017, reversing a three-year downward trend amid India’s clampdown on suspected black money stashed there.
Rupee crashes to 19-month low
The rupee slipped to a 19-month low against the dollar as concern that rising crude oil prices, with fears of a trade war that could spur capital outflows to weigh the Indian currency down.
Government increased the price of ethanol
In order to cut India’s oil import dependence as well as to give higher price for sugarcane, the government increased the price of ethanol, used for blending in petrol, to Rs 43.70 from Rs 40.85 per litre.