The Electricity (Late Payment Surcharge and Related Matters) Rules, 2022.
As per the rule, Late Payment Surcharge shall be payable on the payment outstanding after the due date at the base rate of Late Payment Surcharge applicable for the period for the first month of default. The rate of Late Payment Surcharge for the successive months of default shall increase by 0.5 per. cent for every month of delay provided that the Late Payment Surcharge shall not be more than three per. cent higher than the base rate at anytime.
Reserve Bank of India (Variation Margin) Directions, 2022.
The Non-resident financial entities having an AANA of outstanding NCCDs of USD 3 billion and above, on a consolidated group wide basis and Other non-resident entities having an AANA of outstanding NCCDs of USD 8 billion and above, on a consolidated group wide basis shall be classified as Foreign Covered Entities under these Directions.
SEBI strengthens Investor Grievance Redressal Mechanism.
A complainant/member, who is not satisfied with the recommendation of the IGRC shall avail the arbitration mechanism of the Stock Exchange for settlement of complaints within three months from the date of IGRC recommendation.
The Chartered Accountants (2nd Amendment) Draft Regulations, 2022.
The Amendment is brought under regulation 5 which deals with “application for membership”in which if a person, desires to have his name entered in the Register shall submit to the Secretary an application, in the appropriate Form, together with documentary evidence about his eligibility for membership and such fee as may be determined by the Council.
IRDAI eases Capital requirements under PMJJBY to encourage more insurers to participate.
The easing of capital requirement by IRDAI will accelerate the penetration of life insurance in India, and will support the life insurers in achieving the target set by the Government.
UGC issues circular regarding youth parliament program.
The UGC has been running the Youth Parliament programme in various educational institutions of the country since 1966 with an objective to strengthen the roots of Parliamentary democracy, inculcate healthy habits of discipline.
