SEBI constitutes ‘FPI Advisory Committee (FAC)’ (AUG 5, 2022)

In order to provide recommendations and advise SEBI on policy matters relating to Foreign Portfolio Investors (‘FPIs’), SEBI has constituted a Standing Committee for facilitation of FPI investments.

The terms of reference of the Committee include to advise on issues related to investments and operations of FPIs in the Indian financial markets, including measures to facilitate ease of doing business by FPIs in India.

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Supreme Court Directs SEBI To Provide Documents Sought By Reliance Industries In Share Acquisition Probe (AUG 5, 2022)

In a major relief to RIL, a bench headed by Chief Justice NV Ramana said the market regulator has a "duty to act fairly" and asked it to share relied upon documents to the private firm, which claimed that these papers exonerate it.

SEBI alleged irregularities in its own share acquisition by RIL during 1994 to 2000 and the case had arisen following a complaint by one S Gurumurthy to the market regulator.

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Court can act as parent of a child to ensure they are not deprived of education: Delhi High Court (AUG 5, 2022)

The Court thus directed the Delhi Police to facilitate the school admission of an eight-year-old child whose parents have been in judicial custody on allegations of murder.  

Justice Swarana Kanta Sharma said that in the present case, the Court has to become the voice of the voiceless child and interfere to uphold the rights envisaged under the Constitution to protect her future.

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No GST applicable on rental of 'sarais' under religious or charitable trust: CBDT (AUG 4, 2022)

Certain 'sarais' managed by the Shiromani Gurdwara Parbandhak Committee (SGPC) on their own started collecting GST for rents up to ₹1,000 per day after the decisions on the recommendations of the 47th GST Council meeting came into effect from July 18, 2022.  

As per the recommendation, hotel rooms having room rents up to ₹1,000 per day were brought under the GST rate slab of 12 per cent from the earlier exempt category.

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Iran bans women from appearing in ads after controversial ice cream commercial (AUG 5, 2022)

MinisAtry of Culture, Iran and Islamic Guidance has banned women from featuring in ads under the state's strict chastity rules after a "sexy" commercial featured a woman in a loose-fitting hijab biting a Magnum ice cream.

The advertisement enraged Iranian clerics who urged officials to sue the local ice cream manufacturer Domino. Officials ruled that the advert went "against public decency" and was an "insult" to "women's values".

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  • Home Minister Amit Shah, launches Doordarshan's serial 'Swaraj - Bharat Ke Swatantrata Sangram ki Samagra Gatha' in New Delhi; Urges the youth to take pride in country's ancient culture and history.  
  • RBI increases repo rate by 0.5 per cent to 5.4 per cent;  Repo Rate is now back to pre-pandemic level highest since August 2019, says Governor Shaktikanta Das.  
  • Indian Navy's all women crew creates history by completing first independent maritime surveillance mission over Arabian Sea.  
  • ISRO to launch its smallest rocket on Sunday to unfurl Tricolour in Space. 
  • Bank of England warns country will fall into recession as it raised interest rates by the most in 27 years.


A centrally planned economy, also known as a command economy, is an economic system where a government body makes economic decisions regarding the production and distribution of goods. Centrally planned economies are different from market economies, where these decisions are the result of thousands of choices by producers and consumers.

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