News and Updates Issue 16 Duration June 16-30, 2019

ISSUE16

Common sense often makes a good law.

William O. Douglas, Supreme Court Justice of the United States

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a notification RBI/2018-19/217 dated June 20, 2019 in relation to rollout of the ‘foreign exchange trading platform for retail participants – FX-Retail’.
    “The platform, FX- Retail, is ready for rollout by the Clearing Corporation of India Limited (CCIL) on August 05, 2019. Such a mechanism will provide transparency while enhancing competition and lead to better pricing for retail customers. Banks may charge their retail customers a pre-agreed flat fee towards administrative expenses, which should be publicly declared. Overall, this would bring down the total cost faced by the retail customer in the foreign exchange market.”
    For more information, please access –
    https://rbidocs.rbi.org.in/rdocs/notification/PDFs/217FXPLRP8E60A698FFCA4C3A8A4D1E4642825594.PDF
  • The Reserve Bank of India (RBI) has vide notification RBI/FIDD/2016-17/34 dated June 18, 2019 issued Master Direction for Regional Rural Banks - Priority Sector Lending – Targets and Classification.
    For more information, please access –
    https://rbidocs.rbi.org.in/rdocs/notification/PDFs/34MD270620192D9457BD2EDB4B2985313D105513ACAF.PDF

LABOUR LAW

  • Ministry of Labour & Employment has on June 24, 2019 issued a draft National Policy on Domestic Workers. The salient features of the draft policy are as under;
    a. Inclusion of Domestic Workers  in the existing legislations
    b. Domestic workers will have the right to register as workers. Such registration will facilitate their access to rights an benefits accruing to them as workers.
    c. Right to form their own associations, trade unions.
    d. Right to have minimum wages, access to social security, protection from abuse, harassment, violence.
    e. Right to enhance their professional skills.
    f. Protection of Domestic Workers  from abuse and exploitation.
    g. Domestic Workers to have access to courts, tribunals, etc.
    h. Establishment of a mechanism for regulation of concerned placement agencies.
    For more information, please access –
    http://pib.nic.in/newsite/pmreleases.aspx?mincode=21

COMPETITION LAW

  • Competition Commission of India (CCI) market study in E-Commerce in India: Interim findings to be presented at a Workshop to be held in the end of August 2019. The Competition Commission of India (‘Commission’) is conducting a Market Study on E- commerce in India (‘Study’). In view of the rapid growth of electronic commerce (‘e- commerce’) and the rising importance of online trade in a large number of goods and services in India, the study will allow the Commission to develop a better understanding of the functioning of e-commerce in the country and its implications for markets and competition.
    For more information, please access – https://www.cci.gov.in/sites/default/files/press_release/ccipress.pdf
  • The Federal Trade Commission (FTC) to hold workshop tomorrow regarding the impact of certificates of public advantage
    For more information, please access –
    https://www.ftc.gov/news-events/press-releases/2019/06/ftc-hold-workshop-tomorrow-regarding-impact-certificates-public
  • Antitrust: Commission opens investigation into Broadcom and sends Statement of Objections seeking to impose interim measures in TV and modem chipsets markets [June 26, 2019]
    For more information, please access –
    http://europa.eu/rapid/press-release_IP-19-3410_en.pdf

ENERGY

NEWS

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