A look at the headlines in the sector right now:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.