Manmeet Kaur
Section- I
STRICTER LAW TO LET CONSUMERS TAKE MANUFACTURERS TO COURT
National Consumer Production Court Authority to be set up
The government is creating a new law to amplify consumer rights. The idea is to empower consumers to sue manufacturers and service providers to dupe them by the conceiving information.
The new system is the brainchild of the consumer affairs, food and public distribution ministery. It will work on the US Federal Trade Commission(FTC).
The Consumer Protection (Ammendment) Bill will replace the Consumer Protection Act , 1956 which will help in faster disposal of the consumer cases.
There are 35 state consumer disputes redressal commissions and 610 district consumer forums in the country. There is 1 National Consumer Disputes redressal commission at the apex level. About 29000 cases were filed in these forums up to 2008.
PETROL DEREGULATION HELPS HALVE OMC's LOSSES IN Q2
Petrol price deregulation in June and a moderate fall in crude oil price since the beginning of the fiscal have helped fuel retailers to reduce their losses from selling products below cost in the second quarter of the fiscal by a nearly half,compared with the first quarter.
These under recovery losses of the firms IOC, HPCL and BPCL have fallen to about Rs. 11,000 crore in quarter ending September 2010, from the Rs.20,072 crore recorded in Q1.
The government on June 25, freed the pricing of petrol from its administrative control. It also hike the price of diesel Rs. 2 a liter, that of kerosene by Rs. 3/ litre and the price of LPG was upped Rs.3 per cylinder.
Petrol prices are deregulated now.
GOVT MULLS COMMON RATING SYSTEM ACROSS ALL PLATFORMS\
I & B(Information and Broadcasting) keen on tech-neutral measurement for mobile, DTH, IPTV & radio
Government is bringing a new common rating system for measuring the ratings across media platforms including mobiles, DTH, IPTV and radio and other future technologies.
The ministry is looking to put in place policy guidelines for the delivery of multimedia services through the wireless platform under the 3G mobile technology.
The I & B ministry will invite the stakeholders from the various industries including broadcasting, films, telecom, research agencies and others to work out an all-inclusive audience measurement solution.
Finally, in order to give a big push to the film industry I&B ministry converting Sri Fort Auditorium into a national film auditorium will look at ways and means to promote India as the soft power in the world through the films and broadcasting.
LALIT MODI LIKELY TO BE BOOKED BY ED(ENFORCEMENT DIRECTRATE) UNDER ANTI-MONEY LAUNDERING ACT
The FIR filed by BCCI secretary N Srinivasan against Modi under the Foreign Exchange Management Act(FEMA) for alleged misappropriation of funds to tune of Rs 470 crore.
The directorate had earlier also issued a blue notice against Modi for alleged “serious contraventions” of the foreign exchange law.
SENSEX IS 3 TIMES MORE VOLATILE IN FIRST 15 MINS
New call auction mechanism from today likely to tame volatility
According to Bloomberg data, around 9-9.15 am, the Sensex moves on an average by 0.17% every 15-20 seconds, as compared to 0.06% during the rest of the trading session.
From a hundred point gain, it is not uncommon to find Sensex sleeping into the red over the next few seconds. To do away with such fluctuations during the initial trading period, a call auction mechanism is being introduced on the NSE and BSE from October 18. this is expected to attract more institutional participation during the opening session and aid in better price discovery.
This price recovery system is already prevelant in major overseas stock exchange like Nasdaq, NYSE, LSE, Duetsche Bourse, Hong Kong and the Australian Stock Exchange.
National Consumer Production Court Authority to be set up
The government is creating a new law to amplify consumer rights. The idea is to empower consumers to sue manufacturers and service providers to dupe them by the conceiving information.
The new system is the brainchild of the consumer affairs, food and public distribution ministery. It will work on the US Federal Trade Commission(FTC).
The Consumer Protection (Ammendment) Bill will replace the Consumer Protection Act , 1956 which will help in faster disposal of the consumer cases.
There are 35 state consumer disputes redressal commissions and 610 district consumer forums in the country. There is 1 National Consumer Disputes redressal commission at the apex level. About 29000 cases were filed in these forums up to 2008.
PETROL DEREGULATION HELPS HALVE OMC's LOSSES IN Q2
Petrol price deregulation in June and a moderate fall in crude oil price since the beginning of the fiscal have helped fuel retailers to reduce their losses from selling products below cost in the second quarter of the fiscal by a nearly half,compared with the first quarter.
These under recovery losses of the firms IOC, HPCL and BPCL have fallen to about Rs. 11,000 crore in quarter ending September 2010, from the Rs.20,072 crore recorded in Q1.
The government on June 25, freed the pricing of petrol from its administrative control. It also hike the price of diesel Rs. 2 a liter, that of kerosene by Rs. 3/ litre and the price of LPG was upped Rs.3 per cylinder.
Petrol prices are deregulated now.
GOVT MULLS COMMON RATING SYSTEM ACROSS ALL PLATFORMS\
I & B(Information and Broadcasting) keen on tech-neutral measurement for mobile, DTH, IPTV & radio
Government is bringing a new common rating system for measuring the ratings across media platforms including mobiles, DTH, IPTV and radio and other future technologies.
The ministry is looking to put in place policy guidelines for the delivery of multimedia services through the wireless platform under the 3G mobile technology.
The I & B ministry will invite the stakeholders from the various industries including broadcasting, films, telecom, research agencies and others to work out an all-inclusive audience measurement solution.
Finally, in order to give a big push to the film industry I&B ministry converting Sri Fort Auditorium into a national film auditorium will look at ways and means to promote India as the soft power in the world through the films and broadcasting.
LALIT MODI LIKELY TO BE BOOKED BY ED(ENFORCEMENT DIRECTRATE) UNDER ANTI-MONEY LAUNDERING ACT
The FIR filed by BCCI secretary N Srinivasan against Modi under the Foreign Exchange Management Act(FEMA) for alleged misappropriation of funds to tune of Rs 470 crore.
The directorate had earlier also issued a blue notice against Modi for alleged “serious contraventions” of the foreign exchange law.
SENSEX IS 3 TIMES MORE VOLATILE IN FIRST 15 MINS
New call auction mechanism from today likely to tame volatility
According to Bloomberg data, around 9-9.15 am, the Sensex moves on an average by 0.17% every 15-20 seconds, as compared to 0.06% during the rest of the trading session.
From a hundred point gain, it is not uncommon to find Sensex sleeping into the red over the next few seconds. To do away with such fluctuations during the initial trading period, a call auction mechanism is being introduced on the NSE and BSE from October 18. this is expected to attract more institutional participation during the opening session and aid in better price discovery.
This price recovery system is already prevelant in major overseas stock exchange like Nasdaq, NYSE, LSE, Duetsche Bourse, Hong Kong and the Australian Stock Exchange.
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