RBI announces the creation of Payments Infrastructure Development Fund
The Reserve Bank of India in its press release dated 5th June 2020 has announced the creation of a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centers and northeastern states.
Ministry of road transport mandates vehicles complying with BS-VI emission norms to display green sticker
The ministry has mandated Vehicles complying with Bharat Stage (BS) VI emission norms to have 1 cm green strip at the top in the third registration plate from 1st October.
MPCB issues format for submission of online application for NOC for the destruction of confiscated goods
The Maharashtra Pollution Control Board has prepared a format for submission of online application for NOC for the destruction of rejected and confiscated goods by the Customs Department/Police Department or any other Department.
IRDAI notifies the requirement to obtain a Legal Entity Identifier
The Insurance Regulatory and Development Authority of India in its circular dated 5th June 2020 has mandated the insurers to obtain legal entity identifier (LEI) on or before 31st July, 2020.
IRDAI has extended the time limit for public disclosures on the website
The Insurance Regulatory and Development Authority of India in its circular dated 4th June 2020 has extended the timeline for ensuring compliance with the directions regarding Public Disclosures on websites by insurers for the period ending 31st March 2020 for 30 days.
FSSAI notifies a new method for the detection of a specific marker for rice syrup
FSSAI has decided to reinstate the parameter specific marker for rice syrup under sub-regulation 2.8.3 of Food Safety and Standards (Food Products Standards and Food Additives) Regulations, 2011.
New Drugs and Clinical Trials(Draft Amendment) Rules, 2019
The Ministry of Health And Family Welfare vide notification dated 5th June, 2020 has issued The New Drugs and Clinical Trials(Amendment) Rules, 2019, to allow import of unapproved new drug for Compassionate use for treatment of patients by hospitals or/and medical institutions.
IBC (Amendment) Ordinance 2020 Suspends bankruptcy proceedings for further 6 months
The Central Government vide ordinance promulgated on 5th June 2020 has amended the Insolvency & bankruptcy Code, 2016 which has effectively suspended fresh bankruptcy proceedings against persons impacted by COVID-19 for at least six months, up to a maximum of one year. The new rules shall come into effect immediately.
