LEAD NEWS
AADHAR: The Supreme Court on Tuesday transferred to itself all cases related to linkage of social media profiles with Aadhaar pending in different High Courts. A bench of justices Deepak Gupta and Aniruddha Bose, while allowing the transfer petition of Facebook, asked the registry to place all connected matters before the chief justice of India for listing before an appropriate bench in last week of January 2020. The Supreme Court previously allowed the Madras High Court to continue hearing a plea which seeks linking of Aadhaar numbers to social media profiles such as Facebook and Twitter, but barred it from passing final orders in the case.
NATIONAL
Ayodhya case: Muslims should give up their claim on all disputed sites and also hand over the places to Hindus to “correct the mistakes of ancestors,” Uttar Pradesh Shia Waqf Board chairman Waseem Rizvi said on 21ST October. Rizvi said the need for such an appeal arose after reports of Sunnis seeking permission to offer namaz on disputed structures. He added that if all such issues were not resolved, some other similar dispute may crop up even after the Ayodhya issue is resolved. In his appeal, Rizvi claimed that there were 11 such major disputed sites across the country, including those in Mathura, Varanasi, and Jaunpur.
Assam: Two years after the 126-member Assam Assembly adopted a population policy, the State Cabinet on 21st October decided to make government jobs out of bounds for people with more than two children. The policy will come into effect from January 1, 2021.
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The Supreme Court granted P Chidambaram bail in INX Media case.He is currently in ED’s custody in connection with a separate money laundering case.
- Army jawan killed in heavy shelling by Pakistan along LoC in J&K
INTERNATIONAL
Jammu and Kashmir: US administration said today that it supports India’s development agenda behind the abrogation of Jammu and Kashmir’s special status under Article 370, but it was concerned over the current situation in the Valley. It said it was closely monitoring the situation in the state following India’s August 5 decision.
U.S: U.S. President Donald Trump will celebrate Diwali at the White House on October 24; three days ahead of the formal celebrations of the festival of lights in India. This would be Trump’s third Diwali celebrations at the White House, a tradition that began with his predecessor Barack Obama in 2009.
Biofuels: Malaysia and Indonesia will challenge at the World Trade Organisation (WTO) a European Union law that will limit palm oil use in biofuels, at the end of 2019, a Malaysian minister said today.
ECONOMY
Infosys : Ethical Employees, a whistleblower group, has allegedly complained to the U.S. Securities and Exchange Commission (SEC) and the Infosys’ board that CEO Salil Parekh was indulging in “unethical practices” to boost short-term revenue and profit.
Infosys: Infosys saw its American Depositary Receipts (ADRs) on the NYSE sink by 12.91 per cent today after the revelation that a group describing itself as ‘whistle-blower staffers’ had accused the management of hiding the true financial picture.
Vivo: Ad agency Brand David, part of the WPP-owned Ogilvy group, has taken Smartphone manufacturer Vivo to court over a campaign it claims resembles a piece of work it presented to the company earlier. The ad in question is for V17 Pro, featuring actor Aamir Khan and a child at an amusement park. The ad is still on the air. The next hearing is on November 22.
Tata Steel: Tata Steel Europe has decided to cut 2,500 jobs, or 25 per cent of its workforce, in Europe to save $930 million in costs, Dutch media outlet NH Nieuws reported on 21st October.
Statutory due: The Union government’s statutory due has risen up to Rs 9,115 crore, reflecting the rising pressure on government finances. The cumulative arrears to the Employees’ Provident Fund Organisation (EPFO) are only till the end of March and have increased since then, a senior government official said.
Bank strike: The operations of public sector banks (PSBs) are likely to be affected today as some of the employees’ unions have decided a nation-wide strike to protest against the merger of 10 nationalised banks . However, officers and private sector banks are not part of the call for strike given by All India Bank Employees Association and Bank Employees Federation of India.
Assam: The Cabinet adopted a new land policy that will make the landless indigenous people eligible for 3 bighas (43,200 sq. ft.) of land for farming and half a bigha for constructing a house. This will come with a rider: a beneficiary can sell the land only after 15 years of use.
- Jio, Vodafone Idea, Airtel pay govt over Rs 4500 crore in spectrum dues
MARKET TODAY
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E-COMMERCE
DATA PRIVACY: Walmart CEO Doug McMillon has written to Prime Minister Narendra Modi on issues related to data privacy and regulatory stability for the e-commerce sector and has urged him to reduce the number of licences and permits for the opening of new stores. The global retail giant Walmart, which has invested $16 billion in Flipkart, is facing challenges after the Foreign direct investment rules for e-commerce marketplaces were changed by the government through a revised policy on FDI in online retail.
- Consolidated FDI Policy Circular of 2017
- Consolidated FDI Policy Circular of 2016
- Sectors Under Automatic Route with Conditions
- Sectors Where Government Approval is Required
- Consolidated FDI Policy Circular of 2015