US SC upholds 5:4, the Patient Protection and Affordable Care Act 2010 enacted by Obama administration; Act makes insurance mandatory for more than 30 million uninsured Americans, makes cover prices affordable; Court modifies extent of state-run Medicaid program open to 17 million Americans: says federal gov’t can’t withhold money from states who don’t fully comply with Medicaid expansion [CNBC] [Full judgement]
New York federal court absolves Union Carbide Corporation of all liability in the Bhopal gas leak of 1984: Says the Indian subsidiary was alone responsible for damage, since the US parent had sold it’s holding in the Indian unit directly causing the leak [Wall Street Journal]
Madras HC’s division bench takes suo motu notice of newspaper pictures depicting unhygienic manner of waste disposal in Madurai; Issues notice to Tamil Nadu Pollution Control Board, Madurai municipal corporation commissioner and to the municipality of a nearby district [The Hindu]
Central Information Commission directs external affairs ministry to answer RTI applicant; Applicant asked if before justice Dalveer Bhandari’s nomination to ICJ election candidature, the ministry had sought PM’s approval to nominate it’s own member to the council which nominates ICJ candidates [Deccan Herald]
Former solicitor general of India K Parasaran gets appointed to the Rajya Sabha for six years, under article 80 of the constitution [Press Information Bureau]
RBI changes FDI policy to allow FIIs to invest up to 23 per cent in commodity bourses through automatic route [ET]
Women and Child Development Ministry proposes amendments to Juvenile Justice (Care and Protection) Act to penalize school teachers and administration guilty of corporal punishment, including physical and verbal abuse, with a jail sentence of up to seven years [Firstpost]
Ministry of Finance issues circular to chairmen of all public sector banks (PSBs), encouraging them to reduce cheque usage and resort to online banking; Each cheque’s lifecycle costs Rs 25-40; The total cost of cheque-handling by PSBs is estimated at Rs 4000-5000 crore [Medianama]
The RBI and gov’t plan to create a bail-out fund for companies facing liquidation from FCCB redemptions; $4-5bn FCCB redemptions line up this financial year, immensely pressurizing the rupee [Money Control]
SEBI to pitch for tax deductions to individuals investing up to Rs 50,000 in equity schemes; For new retail investors with taxable income up to Rs 10 lakh, the gov’t has allowed up to 50 per cent tax deduction for investment of up to Rs 50,000 [TOI]
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