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FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA
Food Safety and Standards (Ayurveda Aahara) Regulations, 2022 ( MAY 5, 2022 )
In exercise of the powers conferred by clause (v) of sub- section (2) of section 92 of the said Act, the Food Safety and Standards Authority of India with the previous approval of Central Government, hereby makes the following regulations, namely: -
- Food Business Operators shall formulate Ayurveda Aahara in accordance with the categories and requirements specified in Schedule B of these regulations.
- No person shall manufacture or sell Ayurveda Aahara intended for administration to infants up to the age of twenty-four months.
- The Food Business Operator shall manufacture Ayurveda Aahara in accordance with the Schedule 4 of the Food Safety and Standards (Licensing and Registration of Food Businesses) Regulation, 2011.
- No person shall add vitamins, minerals and amino acids to Ayurveda Aahara: Provided that natural vitamins and minerals if present in the Ayurveda Aahara may be declared on the label.
SUPREME COURT
Supreme Court Seeks Response From Ola In "Predatory Pricing" Case ( MAY 9, 2022 )
The Supreme Court on Monday issued notice on a plea filed by Meru Cabs challenging the Competition Commission of India (CCI) order that rejected the plea alleging Ola Cabs abused its dominant position and indulged in predatory pricing in country's cab-hailing market. A bench of Justices L Nageswara Rao and BR Gavai sought a response from the CCI and company-owned Ola Cabs on Mumbai-based Meru Cabs' appeal.
Meru Cabs had approached the top court challenging the order of the CCI which dismissed its complaint alleging abuse of dominant position by Ola Cabs. It has accused Ola of abusing its dominant position in the Bengaluru market by indulging in predatory pricing and violating the competition law.
Supreme Court stays proceedings on new IT rules in High Courts ( MAY 9, 2022 )
The Supreme Court on Monday put a stay on the proceedings pending before various High Courts on petitions against the new Information Technology Rules, notified by the Centre last year, Live Law reported. A bench of Justices AM Khanwilkar and Abhay Oka passed the order while hearing a bunch of petitions challenging the rules. However, the judges said that they will not interfere with any interim orders about the rules passed by the High Courts, according to Bar and Bench.
The stay order will be applicable till the next hearing on the petitions in the Supreme Court on May 19.
ECONOMY
Indian Rupee plummets 60 paise to close at all-time low of 77.50 against USD ( MAY 9, 2022 )
The Indian rupee extended its losses on Monday and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.
The rupee opened lower at 77.17 against the greenback at the interbank foreign exchange market today to finally settle for the day at 77.50, down 60 paise over its previous close. The rupee touched its lifetime low of 77.52 during the trading session on Monday. On Friday, the rupee had slumped 55 paise to close at 76.90. In the last two trading sessions, the rupee has lost 115 paise against the greenback.
WORD OF THE DAY
The January Effect is a perceived seasonal increase in stock prices during the month of January. Analysts generally attribute this rally to an increase in buying, which follows the drop in price that typically happens in December when investors, engaging in tax-loss harvesting to offset realized capital gains, prompt a sell-off.
MARKET TODAY ( as on 09.05.2022 )
BSE SENSEX 54,470.67 ▼ 364.91 (0.67%)
NIFTY 50 16,301.85 ▼ 109.40 (0.67%)
DOLLAR VS RUPEE
1 US Dollar = 77.32 Indian Rupee ( May 9, 4:30 PM UTC )
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