The Reserve Bank of India (RBI) on October 19, 2018 issued a set of guidelines for Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs). Such a framework was issued by the RBI as a measure to enhance security
The Competition Commission of India (“Commission”), with the main objective of simplifying the procedures relating to combinations provided under the Competition Act, 2002 (“Competition Act”), has recently amended the Competition Commission of India (Procedure in regard to the transaction of
The Reserve Bank of India (RBI) on October 16, 2018 issued a set of guidelines for interoperability of PPIs. The guidelines are issued under Section 18 read with Section 10(2) of the Payment and Settlements Act, 2007. PPI issuers who
TRAI vide its direction no F. No 123-1/2018 NSL-II dated 7 September 2018 has withdrawn the Direction No. 101-41/2006-MN dated 21 August 2006 which had directed all the telecom service providers to furnish a certificate of compliance to TRAI by 31 July every
Regulatory Update: Ministry of Health and Family Welfare The Ministry of Health and Family Welfare vide its notification G.S.R. 817 (E) dated 28th August, 2018 introduced a draft to amend the Drugs and Cosmetics Rules,1945 (“Rules”). These rules have been
The Ministry of Civil Aviation on 27 August 2018 by way of a Press Note released the Drone Regulations 1.0 in the furtherance of enabling safe, commercial usage of drones effective from 1 December 2018. The Press Note provides for
The Ministry of Electronics and Information Technology (MEITY) vide notification dated 22nd May, 2018 has notified the Information Technology (Information Security Practices and Procedures for Protected System) Rules, 2018 (“Rules”) which shall come into force on the date of publication
The Insolvency Bankruptcy Code (Second Amendment) Bill, 2018 was introduced in the Parliament on July 23, 2018 to amend the Insolvency and Bankruptcy Code, 2016 and replace the Insolvency and Bankruptcy (Amendment) Ordinance, 2018 that was released on June 6,
The Ministry of Corporate Affairs(“MCA”) on 31 July 2018 published the Companies (Accounts) Amendment Rules 2018. With the amendment coming into effect, the MCA has mandated few insertions to be made by a Company while preparing its Board Report and
The Ministry of Corporate Affairs(“MCA”) on 3 January 2018 notified the Companies Amendment Act 2018 (the “Act”). The Sections 5 & 6 of the Act relaxed the timelines provided under section 12 of the Companies Act 2013 (The “Principal Act”).
SEBI (Foreign Portfolio investors) Regulations, 2014 (“Regulation”) mandated that the purchase of equity shares of each company by a single portfolio investor or an investor group shall be below 10 (ten) percent of the total issued capital of the company.
SEBI vide circular no. SEBI/HO/IMD/DF1/CIR/2018/103/2018 dated 3 July 2018 with the consultation of the Reserve Bank of India (RBI) has decided to enhance the limit from USD 500 (five hundred) million to USD 750 (Seven Hundred Fifty) million, in terms
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