1.The Uttarakhand High Court declared the entire animal kingdom including birds and aquatic animals a legal entity with rights of a living person.“The entity acts like a natural person but only through a designated person, whose acts are processed within the ambit of law,” said HC.Hence, the animal kingdom could be represented by a custodian.
2.The Competition Commission of India (CCI) launched an Online Guidance System for determining notifiability of merger & acquisitions.The Guidance System has been named as “Do It Yourself (DIY): A notifiability check for mergers & acquisitions under the Competition Act, 2002”.It is a part of CCI’s outreach initiatives and measures to simplify compliance requirements regarding combinations.
3.Private lender YES Bank announced that it has received final regulatory approval from the Securities & Exchange Board of India (SEBI) to start mutual fund business.This approval is subsequent to the Reserve Bank of India’s (RBI) approval.YES Asset Management (India), a wholly owned subsidiary of YES Bank, will launch fund offerings across the spectrum in both debt and equity markets.
4.China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as “high-risk jurisdictions” by global banks acting as custodians for foreign funds.It comprises the largest group of investors in the Indian stock market.Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny.
5.No transactions in cryptocurrencies will be made by the commercial banks from 6th July onwards as per the RBI directive.RBI had already barred all its regulated entities in order to curb money laundering and other financial irregularities and protect consumers.All the regulated entities have been given 3 months to exit their relationship with businesses and individuals.
6.Tata Projects has bagged an Rs. 3,057 crore project of optical fiber cable network of Bharat Net in Chhattisgarh.Important services such as 102, 108, and PDS would be effectively executed at the Gram Panchayat level and around 2.6 crore people would be benefited through the project.It will strengthen the state’s economy and enable local people to lead an easy life.
7.The Law commission headed by Justice B.S Chauhan (rtd.) submitted a report suggesting that gambling in sports should be regulated as it can not be stopped.Law Commission recommended the classification of ‘Proper gambling’ and ‘Small gambling’ in terms of stakes involved are high or low.It also recommended gambling to be ‘Cashless’ and linking of ‘Aadhar’ and ‘Pan’ cards of gamblers.
8.Union Minister of State for Culture Dr. Mahesh Sharma inaugurated exhibition titled “Arth – art for earth” at IGNCA, New Delhi.It consists of “Excavations in Hymns of Clay” – a suite of environmental art installations by Manav Gupta weaving all of them with a storyline and poetry.The exhibition is available for public viewing until the 22nd of October 2018.
9.A two-judge bench, comprising Justices A K Sikri and Ashok Bhushan upheld the CJI’s role as “Master of Roster”.The bench further held that CJI’s role cannot be interpreted to include the Collegium in allocation for cases as it will make day-to-day functioning difficult.In January this year, four senior-most judges in a press conference said that the situation in the sc was “not in order”.
10.Nasscom opened a Center of Excellence for Data Science and Artificial Intelligence with an aim to strengthen the country’s AI ecosystem.It also signed a MoU with Niti Aayog to foster privacy, security, applied research, and accelerate ethics.The CoE initiative is a nationwide programme which is based on innovation and would focus on solutions.
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