News and Updates Issue 11 Duration July 1 to July 17 2021

“Stories of imagination tend to upset those without one.”

Terry Pratchett

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/65in relation to Extension of Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit. [July 1, 2021] Read More
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/66 in relation to Interest on overdue domestic deposits. [July 2, 2021] Read More
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-2022/67 in relation to addition of Retail and Wholesale Trade in the definition of Micro, Small and Medium Enterprises. [July 7, 2021] Read More
  • The Reserve Bank of India (RBI) has issued a press release RBI/2021-22/69 in relation to London Interbank Offered Rate (LIBOR) Transition. [July 8, 2021] Read More

COMPETITION LAW

  • Operators of online colouring book app ‘Recolour’ will notify parents and offer refunds to current underage subscribers to settle FTC allegations that they violated children’s privacy by collecting and disclosing their personal information without notifying their parents and obtaining their consent.[July 1, 2021] Read More
  • The operators of Digital Income System, Inc. falsely promised participants that they could earn large sums of money from memberships sold to other participants and have thus been prohibited from engaging in any future business and investment opportunity as part of a settlement with the FTC. [July 2, 2021] Read More
  • The owners of a company that sells septic tank cleaning products agreed to a permanent ban on telemarketing and will pay more than $1.6 million to settle FTC charges that the company and its telemarketer made illegal robocalls to consumers. The company will also turn over a residential property as part of the settlement.[July 16, 2021] Read More
  • CCI receives notice relating to acquisition of equity stake in JSW Cement by Synergy Metals Investments Holding Limited, under Green Channel and is deemed approved [July 14, 2021] Read More

ENERGY

  • Unions urge HPCL liquidator to disclose valuation of oil reserves in defunct Cachar Paper Mills land area. [July 4, 2021] Read More
  • Directorate General of Hydrocarbons overhauls oilfield approval processes, cuts down paperwork. [July 13, 2021] Read More
  • Royal Vopak, Aegis Logistics form new JV for LPG and chemical storage in India. [July 13, 2021] Read More

NEWS

  • Settlement has been agreed with the Suez Canal Authority and the Representatives of Owners and Insurers of the Ever Given container ship to allow the ship to be released. [July 4, 2021] Read More
  • Former US President Donald Trump files suit against Facebook, Twitter and YouTube for violation of the First Amendment despite the fact that the companies are private. [July 7, 2021] Read More
  • Inflation seen rising in India, China, other big Asian countries in 2022. [July 8, 2021] Read More
  • The European Commission has launched a big climate change plan to tackle climate change and to meet the collective goal to reduce greenhouse gas emissions. [July 14, 2021] Read More

Disclaimer “This information has been gathered from various sources. Nothing herein is or may be construed as legal advice”.