Banking Awareness 22nd November 2016 | Financial Affairs 22nd November 2016

Code of conduct for e-pharmacy sector launched


‘Self-regulation Code of Conduct’ for the e-pharmacy sector

  • The Indian Internet Pharmacy Association today released the ‘Self-regulation Code of Conduct’ for the e-pharmacy sector, an attempt to adhere to the highest professional standards and to have proper safeguards to ensure consumer’s health and safety.
  • Besides, e-pharmacy players must partner with government for any recall of medicines and collect adverse events of medicines (consumer reports) and comply to submit them to National Centre for Pharmacovigilance.

Arvind Gupta

Head of Digital India Foundation

India set to consume $80 billion worth of mobile components in five years


Close to a billion smartphones will be sold in this period: IIM-B/Counterpoint

  • India, the second largest global smartphone market in terms of users, is on track to consume $80 billion worth of mobile components by 2021, according to a joint study from IIM-Bangalore and Counterpoint Researchers.
  • Aruna Sundararajan, Secretary, Ministry of Electronics & IT, said the government would have to work with local industry and several partners to achieve this.


Percentage of domestically manufactured mobile phones.

Group-C govt employees get Rs.10,000 of salary in cash


Employees are given the salary advance in cash

  • As rush in banks and ATMs due to demonetisation continues, Government employees belonging to Group-C today started receiving Rs. 10,000 in cash as advance of their salary for the month of November.
  • Government employees of Group-C of all Ministries, Departments and associate organisations are given the salary advance in cash.

Rajnath Singh

Home minister of India.

‘Demonetisation move to checkmate counterfeit’


To create a nation of substance for future generations

  • Sadhguru Jaggi Vasudev, founder of Isha Foundation, with Raju Venkatraman, CEO and MD, Medall Healthcare, and Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds, at an interactive session organised by the Chennai International Centre
  • “To create a nation of substance for future generations, we have to go through some pain,” emphasised Sadhguru.

$4 trillion economy

Increased Indian economy

IIT-M report paints a healthy picture of start-up ecosystem


Raises concerns over ventures being restricted to a few States, and sustainable investments

An IIT-Madras report on the entrepreneurial ecosystem in the country reaffirms that the start-up world is active and buzzing — there are more individuals turning angel investors, the amount the angels invest is going up, more start-ups are being founded and many more of these are getting funded. However, the percentage of ventures that attract subsequent rounds of funding has dropped significantly.

RS.4.67 crore

The average investment in an angel round.

Demonetisation effect:


GDP to fall by up to 80 bps

Singaporean brokerage DBS has warned of major downside risks to growth due to the demonetisation exercise, and has estimated that the gross value added can come down by up to 0.80 per cent lower than its 7.6 per cent target.


Percentage of Inflation can be reduced to demonetization.

Bill to ban commercial surrogacy introduced in Lok Sabha


Ban on commercial surrogacy.

Amid an Opposition uproar demanding a discussion on demonetisation, the government on Monday introduced two Bills in the Lok Sabha on banning commercial surrogacy, and to consolidate existing laws relating to admiralty jurisdiction of courts with regard to maritime cases.

Mansukh L Mandaviya

Minister of shipping.

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