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Bank Board Bureau was constituted as one of the components of Mission Indradhanush which is based on recommendations of P J Nayak Committee.

The Consumer Protection Act, 2019 (New Act) received the assent of the President of India and was published in the official gazette on 9 August, 2019. The New Act seeks to replace the more than three decades old Consumer Protection Act, 1986.

To give a fillip to the medical device sector, which is a sunrise sector, government announced setting up of a National Medical Devices Promotion Council under the Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce & Industry.

In the Interim Budget 2019-20, government announced that a Rashtriya Kamdhenu Aayog will be set up for the welfare of cows in the country.

On 2nd September 2019, the Steering Committee on Financial technology (Fintech) has submitted its report to the Finance Ministry.

RBI on 26th August 2019 approved the transfer of Rs 1.76 lakh crore dividend and surplus reserves to the government.

The Economic Advisory Council to the Prime Minister constituted a Logistics Development Committee under the Chairmanship of Dr. Bibek Debroy. The committee was tasked to assess key challenges in logistics development and associated commerce and suggest policy reforms for ease of doing trade in India.

It refers to the pooling of the assets and liabilities of two or more banks. Starting from M Narasimhan Committee, various committees and experts have advised that India should have few but big banks.

High corporate tax was responsible for slow progress of Indian economy due to less incentive for capacity generation and less exports which was an outcome of less competitive international prices.

Recently, American multinational corporation PepsiCo sued 11 Gujarati farmers for ‘infringing its Intellectual Property Right by growing the potato variety, FL 2027, which is used in its Lay’s chips.