RBI revises Regulatory Framework for Urban Co-operative Banks (UCBs).
The Committee, inter alia, recommended a four-tiered regulatory framework based on size of deposits of the banks and their area of operations. The differentiated regulatory approach was mainly recommended for key parameters such as net worth, Capital to Risk-weighted Assets Ratio (CRAR), branch expansion and exposure limits. Membership in an Umbrella Organization (UO) also formed a vital part of the recommendations.
The Central Electricity Regulatory Commission (Connectivity and General Network Access to the inter-State Transmission System) Regulations, 2022.
Applications for grant of Connectivity or grant of General Network Access (GNA), as the case may be, shall be made online to the Nodal Agency and shall be digitally signed by the Applicant. Each application for grant of Connectivity shall be accompanied by an application fee of Rs.5 lakh along with applicable taxes.
IRDAI modifies guidelines on Standards and Benchmarks for the Hospitals in the Provider Network.
In order to enhance the scope for offering cashless facility across the length and breadth of the country, the insurers are now empowered to empanel the network providers that meet the standards and benchmarks criteria as specified by their respective boards.
MoRTH notifies Bharat New Car Assessment Programme.
BNCAP is applicable on Type Approved motor vehicles of category M1 [motor vehicles used for the carriage of passengers, comprising not more than eight seats, in addition to driver’s seat] with gross vehicle weight less than 3.5 Tonnes, manufactured or imported in the country, in accordance with the Automotive Industry Standard (AIS)-197. The standard is aligned with global benchmarks: it is beyond minimum regulatory requirements.
DGFT imposes ban on import of human embryo.
The Assisted Reproductive Technology (Regulation) Act, 2021, defines ART to include all techniques which tries to obtain pregnancy by handling sperm outside the human body and then transferring the embryo into reproductive system of a woman. Some of the ART services are- in-vitro-fertilization, gamete donation, and gestational surrogacy.
Clarification on holding of Pre-Show Cause Notice Consultation
It is clarified that Pre show cause notice consultation with assessee, prior to issuance of SCN in case of demands of duty is above Rupees 50 Lakhs (except for preventive/offence related SCN’s), is mandatory and shall be done by the Show Cause Notice issuing authority.
NMC directs common counseling for admission to MBBS course
Directorate General of Health services is designated to conduct the counseling for the 15% all india quota seats. State Governments are designated to conduct the counseling for the rest of the seats.
GST applicable to FSSAI services
It is notified to all stakeholders that GST at the prescribed rate would be applicable on all services provided by FSSAI commencing 18th July 2022. The rates for various services such as the issue of Central license, product approval fee, food safety mitra fee, import clearance fee, etc, will be revised accordingly.
CBDT issues exemption for SEZs
The exemption shall come into force on July 20,2022.
Clarification regarding composition of Audit, Nomination & Remuneration and Stakeholders Relationship Committee
If member(s) forming the part of the committee is not Board Member(s), it will be deemed that the composition is not in compliance with the provisions of LODR and accordingly the actions as prescribed shall be initiated from the date of admission of non-Board Member(s) into the committee.
