A look at the headlines in the sector right now:

  1. RBI limits customer liability in online fraud cases, directs banks to register all for SMS alerts: The central bank said people cannot be made liable at all if they report unauthorised transactions within three working days.
  2. Manufacturers may go to jail for not printing revised MRP on unsold goods: The government amended the Legal Metrology Act, 2009, after consumers complained of arbitrary taxes on MRP.  
  3. IndiGo rules out joint venture with government in Air India deal: Founder Rakesh Gangwal said the airline will not be able to bring value to the proposal.
  4. Microsoft confirms thousands of layoffs, mostly outside the US: The tech giant is shifting its sales strategy to focus more on cloud services than on its traditional server and desktop business.
  5. Mercedes-Benz India records best ever sales in June quarter, reports 18% growth from last year: Between January and June this year, the German luxury carmaker sold a record 7,171 units.  
  6. France plans to ban petrol and diesel vehicles by 2040: Environment Minister Nicolas Hulot said the government aims to make the country carbon neutral by 2050. 
  7. UK court rejects Vijay Mallya’s request for extradition hearing date extension: The liquor baron’s defence team claimed they had received more material as ‘further evidence’ only on Wednesday, and should be allowed to examine it.