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12th May, 2016
Economics

RBI cancelled Certificate of Registration of four
NBFCs
On 10 May 2016 the Reserve Bank of India (RBI) cancelled the
certificate of registration of the four Non-Banking Financial
Companies (NBFCs).
RBI cancelled their certificates in exercise of the powers conferred on
it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
Companies whose certificate of registration has been cancelled are;

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M/s Neelanjali Engineering Private Limited, M/s Novoflex Tradecom
Private Limited, M/s Guide Investments and Trading Co. Pvt. Ltd and
M/s Enol Ventures Private Limited.
Apart from this, seven other Maharashtra-based Non Banking
Financial Institutions have surrendered their registration certificates.

12th May, 2016
Economics

RBI to issue Rs 1000 Banknotes with inset letter
'R'
On 9 May 2016 the Reserve Bank of India (RBI) announced that it will
shortly issue Rs 1000 denomination banknotes with the inset letter 'R'
in both the number panels.
The banknotes will also have on the obverse, all the other security
features, including ascending size of numerals, bleed lines and
enlarged identification mark.
The design of these banknotes notes is similar in all respects to the
Rs 1000 banknotes in Mahatma Gandhi Series - 2005 issued earlier.

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The banknotes bearing signature of RBI Governor Dr. Raghuram G.
Rajan, will also have the year of printing '2016' printed on the reverse.
All the banknotes in the denomination of Rs 1000 issued by RBI in the
past, would continue to be legal tender.

12th May, 2016
Imp. days

May 11 observed as National Technology Day
On 11 May 2016 National Technology Day was celebrated
across India with the theme "Technology enablers of Startup
India".
The function on this regard was presided over by the President
Pranab Mukherjee in Vigyan Bhawan in New Delhi.

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Nation celebrates this day as a tribute to our scientists for their
numerous accomplishments and innovations that have
boosted National growth and identity.

12th May, 2016
National

Gilead gets patent for Hepatitis C drug Sovaldi
On 9 May 2016 the Controller General of Patents, Designs and
Trademark granted the patent to Gilead Sciences (an American
biopharmaceutical company) for its Hepatitis C drug
Sofosbuvir (brand name Sovaldi) in India.
The drug, which has a list price of 1000 US dollar a pill in the
United States, was rejected for a patent by the Indian patent
authority in January 2015.

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It was rejected on the basis that it represented only minor
changes to a previous formulation, and the company already
had licensing deals with manufacturers in India.

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