As part of Government’s efforts to make India a startup hub and continuous efforts of ease of doing business in India, the Ministry of Corporate Affairs (the MCA) has issued notification dated 6 March 2019. With this notification following changes
The Ministry of Health and Family Welfare vide its notification dated 26th February 2019 has introduced the draft amendment rules to amend the Drugs and Cosmetics Rules 1945 inviting suggestions/comments from the public. The changes proposed are summarised below. An
Regulatory update: RBI’s Bi-Monthly Monetary Policy Statement grants important relaxations to FPIs and Companies under bankruptcy with respect to ECB The Reserve Bank of India (RBI) on 7 February 2019 has issued its Sixth Bi-monthly Monetary Policy Statement (Monetary Policy
Reserve Bank of India (“RBI”) vide its press release on January 21, 2019 has invited comments on the Policy Paper on Authorisation of New Retail Payment Systems (“Policy Paper”). Earlier in June 26, 2018 RBI had released a Statement on
The Securities Exchange Board of India (SEBI) in its meeting dated December 12, 2018, had decided that Beneficial Ownership (BO) criteria in Prevention of Money laundering (Maintenance of Records) Rules, 2005 should be made applicable for the purpose of KYC
SEBI vide its circular number SEBI/HO/CFD/CMD1/CIR/P/2018/0000000149 dated December 7, 2018 issued this circular in exercise of the powers conferred under Section 11 and Section 11A of the Securities and Exchange Board of India Act, 1992 read with Regulation 31 and
Considering the instances where the Stockbrokers have diverted client securities, observed that these diversions were coming to light on failure of these stockbrokers to meet margin and/ or settlement obligations to Stock Exchange/ Clearing Corporation. In this regard, the Securities
The Ministry of Information and Broadcasting (“Ministry”) vide a public notice has invited comments from the public regarding the proposed Cinematograph Act (Amendment) Bill. The Ministry proposes stringent penalties for recording, attempting to record or abetting the recording or transmission
RBI vide its notification no. RBI/2018-19/103 dated 8 January 2019 has permitted authorised card payment networks to offer card tokenisation services to any token requestor i.e. a third party application subject to certain conditions. Conditions to be fulfilled Tokenisation and
RBI issues directive limiting the liability of customers in unauthorised electronic payment transactions in Prepaid Payment Instruments issued by authorised Non-Bank Issuers. The Reserve Bank of India (RBI) vide its Notification No. DPSS.CO.PD.No.1417/02.14.006/2018-19 dated 4 January 2019 (“the Directive”) has
The Union Minister of Commerce and Industry and Civil Aviation, Suresh Prabhu, on 14 December 2018, announced the setting up of a National Medical Devices Promotion Council (“Council”). Though the medical devices industry has been growing steadily, it is primarily
A benevolent measure has been introduced by the Government to support the unemployed for certain periods. The Employees’ State Insurance Corporation (“ESIC”) in furtherance of the Employees’ State Insurance Act, 1948 (“Act”), has provided a welfare measure for qualified employees
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