SUPREME COURT 

Google set to challenge CCI antitrust ruling at Supreme Court (JAN 5, 2023)

The Competition Commission of India (CCI) in October fined the Alphabet Inc unit $161 million for exploiting its dominant position in the market for Android which powers 97% of smartphones in India, a key growth region for the U.S. giant.

Google licenses its Android system to smartphone makers, but critics say it imposes restrictions like mandatory pre-installation of its own apps that are anti-competitive. The company argues such agreements help keep the operating system free.

NEWS REPORT : Google News: Google set to challenge CCI antitrust ruling at Supreme Court - The Economic Times (indiatimes.com)

RBI

M&M Financial: RBI lifts ban on recovery via 3rd-party agents (JAN 5, 2023)

The Reserve Bank of India (RBI) on Wednesday allowed Mahindra and Mahindra Financial Services (M&M Financial) to resume loan recovery and repossession activities through third parties.

In September, the central bank prevented the lender from using third-party services for recovering loans after media reports that a 27-year-old pregnant woman was crushed to death, trying to stop a loan recovery agent working on behalf of M&M Financial. The woman had reportedly been trying to stop the recovery agent from seizing her father’s tractor over loan dues. 

M&M Financial’s shares had plunged over 20% following the order in September, before recouping those losses by December.

M&M Financial: RBI lifts ban on recovery via 3rd-party agents | The Financial Express

NEWS AT GLANCE 

  • Communications Minister Ashwini Vaishnaw launches high-speed 5G telecom services in Odisha.  
  • India and France hold 36th Strategic Dialogue in New Delhi.
  • Union government clears National Green Hydrogen Mission with initial outlay of 19 thousand 744 crore rupees.  
  • Second National Conference of State Chief Secretaries begins in New Delhi today.

WORD OF THE DAY 

Heir Apparent is the person who is expected to receive a share of the estate of a family member if he/she lives longer, or is not specifically disinherited by will.

MARKET TODAY (as on 5.01.2023)

BSE SENSEX                60,353.27 INR▼ -304.18 (-0.50%)

NIFTY 50                      17,992.15 INR▼ -50.80 (-0.28%)

1 US Dollar = 82.56 Indian Rupee (Last updated · 5 January at 2:47 pm UTC)

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