SEBI signs MOU with CBDT for data exchange
The Securities and Exchange Board of India has signed a Memorandum of Understanding (MoU) with the Central Board of Direct Taxes to exchange data. A Data Exchange Steering Group has also been constituted for the initiative, which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data-sharing mechanism.
IRDAI issues instructions for rescheduling of payment towards term loans
The Insurance Regulatory and Development Authority of India has permitted insurers to grant a moratorium of three months towards payment of installments falling due between 1st June 2020 and 31st August 2020.
Ministry of Labour and Employment Invites Public Comments on Draft Code on Wages (Central) Rules, 2020
The Ministry of Labour & Employment has published the final draft on the Code on Wages (Central) Rules, 2020 by amalgamating all existing Labour Laws related to wages. Inputs / Comments / Suggestions are invited on the final Draft Rules which shall be addressed within 45 days from the date of publication of this notification.
Government of Kerala directs industrial disputes arising during lockdown to be resolved by mediation
Any industrial disputes related to non-payment of wages or salary by industries closed down by lockdown shall be resolved by negotiation between employer and employees failing which it shall be referred to the mediation of the labour department officials.
CPCB proposes more stringent penalty for violation of Noise Pollution (Regulation and Control) Rules 2000
The CPCB has proposed an increased fine of Rs. 10,000 for violation of norms regarding the use of loudspeakers/public address system, Rs 10,000 to Rs 100,000 for violation of noise pollution norms regarding the use of diesel generator sets and a fine of Rs 50,000 for the violation in cases of sound-emitting construction.
The Government of Tripura excludes small establishments from scope of Contract Labour (Regulation and Abolition) Act, 1970
In view of the pandemic situation, all class of establishments and contractors in Tripura with less than 50 employees are excluded from complying with all provisions of Contract Labour (Regulation and Abolition) Act 1970.
RBI extends timelines for submission of various supervisory returns to department of supervision
The timeline for returns to be filed by NBFCs monthly was extended for 10 days from due date and quarterly returns due date by 30 days. The extension in submission of returns will now be effective for the submissions which will become due from July 01, 2020 to July 31, 2020.
