Lok Sabha passes the Finance Bill, 2021
The collected revenue from Agriculture Infrastructure and Development Cess will go to the States for creating a robust agriculture infrastructure in the country.
IRDAI relaxes requirement to issue policy documents for Electronic Policies
IRDAI has allowed exemption for further six months to insurers from the requirement to issue policy document, copy of proposal form in physical form.
The Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2021
A recognized stock exchange shall maintain such registers and furnish such returns or information to the Board in respect of its annual turnover, the listing fees collected by it and the fee paid or payable under these regulations, as may be specified by the Board.
The Drugs and Cosmetics (Amendment) Rules, 2021
Central Drugs Laboratory of Indian Medicine and Homoeopathy to function as Central Drugs Laboratory for the purpose of testing or analysis of Ayurveda, Siddha, Unani and Homoeopathy Drugs.
Narcotic Drugs and Psychotropic Substances (Amendment) Rules, 2021
The amendment has added to the list of Psychotropic substances the substance with nonproprietary name DOC and Chemical name 4-Chloro-2,5-dimethoxyamfetamine.
IRDAI extends the facility of dispensation for physical signature of life covers till 30th September.
IRDAI has allowed the Life Insurers to obtain the customer’s consent through electronic means, i.e., without requiring wet signature on the proposal form, for the business solicited by Individual Agents and Insurance Intermediaries, under all products, till 30th September 2021.
IRDAI modifies Guidelines on Standard Personal Accident Insurance product.
The insured will be allowed a period of fifteen days from date of receipt of the Policy to review the terms and conditions of the Policy, and to return the same if not acceptable.
The Motor Spirit and High Speed Diesel (Regulation of Supply, Distribution and Prevention of Malpractices) (Amendment) Order, 2021.
The Amendment notifies new clause 6B in which the Central Government permits the direct sale of bioethanol (E100) by an oil company for use as standalone fuel or blending with motor spirit, for compatible automobiles to all consumers, in accordance with the standards specified by the Bureau of Indian Standards.
SEBI advises registered entities including MIIs to comply with TRAI’s TCCCP Regulations, 2018.
These new regulations have a provision for Principal Entities to register with the telecom service providers and are also required to register the template of the message.
SEBI reviews Delivery Default Norms in the derivatives segment.
The Clearing Corporations/Exchanges shall have the flexibility to increase/decrease penalty for specific commodities depending on situation, in consultation with SEBI.
