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  • TRAI issue direction to Access Providers to stop the misuse of Message Template

    TRAI issue direction to Access Providers to stop the misuse of Message Template

    The Telecom Regulatory Authority of India (“TRAI”) on May 12, 2023, issued a direction to all the Access Providers to stop the misuse of Message Templates, under THE TELECOM COMMERCIAL COMMUNICATIONS CUSTOMER PREFERENCE REGULATIONS, 2018 (“TCCCPR2018”). It is stated

  • BE-12 Benchmark Survey – Foreign Direct Investment in the United States

    BE-12 Benchmark Survey – Foreign Direct Investment in the United States

    BE-12 Benchmark Survey – Foreign Direct Investment in the United States Introduction The BE-12 report is a survey conducted by the United States Bureau of Economic Analysis (“BEA”). The survey is conducted every 5 years and is the most comprehensive

  • Digital Banking gets the nod of consumers and is shuttering bank branches in large numbers

    Digital Banking gets the nod of consumers and is shuttering bank branches in large numbers

    Lloyd Banking Group is joining in line with the current trend of bank branches being shuttered in UK. It has announced that it is closing 28 bank branches as customers are increasingly turning to digital banking. This comes two months

  • Prohibition of Import of Drones

    Prohibition of Import of Drones

    The government on 9th February, 2022 through a notification from the Directorate General of Foreign Trade of the Ministry of Commerce and Industry (“Ministry”), has banned the import of drones with immediate effect, except for research and development, defence and

  • SEBI amends the AIF Regulations to pave way for introduction of Special Situation Funds

    SEBI amends the AIF Regulations to pave way for introduction of Special Situation Funds

    SEBI has enacted the “Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2022”, vide a notification dated 24 January 2022, to amend the AIF regulations, which inter alia provides for a framework for Special Situation Funds (“SSFs”)

  • SEBI amends the regulatory regime governing Alternative Investment Funds (AIFs) to facilitate co-investment through the portfolio management route

    SEBI amends the regulatory regime governing Alternative Investment Funds (AIFs) to facilitate co-investment through the portfolio management route

    SEBI vide notification dated 09 November, 2021 has amended the provisions of SEBI (AIF) Regulations 2012 and SEBI (Portfolio Managers) Regulations 2020 to provide for co-investment by investors of AIF through a co-investment Portfolio Manager. It has been clarified that

  • AIFs to file Private Placement Memorandum (PPM) with SEBI through registered Merchant Bankers

    AIFs to file Private Placement Memorandum (PPM) with SEBI through registered Merchant Bankers

    SEBI vide its Circular no. SEBI/HO/IMD/IMD-I/DF6/P/CIR/2021/645 dated October 21,2021[1] have specified the Modalities for filing of placement memorandum through a Merchant Banker. Earlier on 13th August 2021 SEBI made amendment in the AIF regulations[2] to mandate that Placement memorandum shall

  • RBI Guidelines on E-mandates for recurring transaction

    RBI Guidelines on E-mandates for recurring transaction

    In August 2019, the RBI had issued a framework for processing of e-mandates on recurring online transactions. Initially applicable to cards and wallets, the framework was extended in January 2020 to cover UPI transactions as well. Effective 1st October, 2021,

  • Non-Bank entities now permitted by the RBI to avail Aadhar eKYC authentication licenses

    Non-Bank entities now permitted by the RBI to avail Aadhar eKYC authentication licenses

    In its efforts to promote digital usage across financial institutions, the Reserve Bank of India (RBI), on September 13, 2021, has now permitted entities other than banking companies to carry out authentication of a client’s Aadhar number through e-KYC facility

  • Relaxations from certain regulatory requirements in case of relocation of an offshore Fund to International Financial Services Centre (IFSC)

    Relaxations from certain regulatory requirements in case of relocation of an offshore Fund to International Financial Services Centre (IFSC)

    International Financial Services Centres Authority (IFSCA) upon receiving representations from various stakeholders has vide circular No. 81/IFSCA/AIFs/2020-21/03 dated June 25, 2021 amended the norms pertaining to relocation of funds outside India to IFSC. The amendments are summarised as follows:  

  • Enhancement in overseas investment limit of AIFs/VCF

    Enhancement in overseas investment limit of AIFs/VCF

    SEBI enhances the overseas investment limit of Alternative Investment Funds (AIFs), Venture Capital Funds (VCFs) to USD 1,500 million: SEBI on 21 May 2021 vide its circular no. SEBI/HO/IMD/DF6/CIR/P/2021/565 has enhanced the overseas investment limit of SEBI registered AIFs and

  • THE KARNATAKA SOCIETIES REGISTRATION (AMENDMENT) BILL, 2021

    THE KARNATAKA SOCIETIES REGISTRATION (AMENDMENT) BILL, 2021

    Karnataka Legislative Assembly has introduced a bill to amend the Karnataka Societies Registration Act, 1960 in its 15th Legislative Assembly. The bill has substituted section 27A of the Karnataka Societies Registration Act, 1960 which talks about the Appointment of an

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