RBI notifies eligibility norms for Small Finance Banks for Authorised Dealer Category-I.
The eligible SFBs may approach Foreign Exchange Department, Central Office, Reserve Bank of India with their applications along with the supporting documents with regard to their eligibility and a copy of applicant’s banking license and Necessary Board resolution for conducting the activities permitted to an Authorised Dealer Category-I and for obtaining necessary authorisation from the Reserve Bank under section 10(1) of FEMA 1999 for grant of Authorised Dealer Category-I license.
The Passenger Name Record Information Regulations, 2022.
In the event of technical failure, passenger name record information shall be transferred by any other appropriate means, as may be directed by the National Customs Targeting Centre-Passenger, ensuring an appropriate level of information security. Every aircraft operator shall transfer passenger name record information not later than twenty four hours before the departure time; or at the departure time – wheels off.
The City of Panaji Corporation (Amendment) Bill, 2022.
As per the new section 242A, If any person without obtaining a licence from the Commissioner carries on any trade or occupation in any premises within the limits of the Corporation area, the Commissioner shall, after giving an opportunity of being heard to such person, pass an order to seal such premises.
The Goa Electronic Delivery of Notices Bill, 2022.
As per the bill, a notice served in electronic form shall be deemed to have been duly served when the electronic device used for such notice clearly indicates that such notice is viewed by such person or his authorized representative.
RBI reviews Rupee Interest Rate Derivatives Directions.
Banks in India were permitted, in February 2022, to undertake transactions in the offshore Foreign Currency Settled Overnight Indexed Swap (FCS-OIS) market with non-residents and other market makers with a view to removing the segmentation between onshore and offshore OIS markets and improving the efficiency of price discovery. Standalone Primary Dealers (SPDs) are also market-makers, like banks, in the onshore OIS market. It has now been decided that SPDs authorized under section 10(1) of FEMA,1999 will also be permitted to undertake FCS-OIS transactions directly with non-residents and other market-makers. Necessary directions will be issued shortly.
Measures taken by the Government to protect the interest of investors/account holders in the bank.
The deposit insurance cover of ₹5 lakh is applicable uniformly to all insured banks and their depositors, and is payable to any depositor in respect of deposits held by him/ her in the same right and same capacity at all the branches of an insured bank taken together, in case of liquidation/ failure of a bank.
New provisions implemented through Social Security Code to enhance coverage of social security
This information was given by the Minister of State for Labour & Employment, Shri Rameswar Teli in a written reply in Lok Sabha today.
BSE mandates submission and scrutiny of identity and address proof of all the newly onboarded clients with permanent address ‘Sikkim’
The documents should be sent vide email on bse.reports@bseindia.com.
Revised Export Policy for Wheat Flour (Atta), Maida, Samolina (Rava / Sirgi)
Export of all the shipments approved by IMC shall be allowed subject to issuance of Quality Certificate by Export Inspection Council (EIC) or its EIAs at Delhi, Mumbai, Chennai and Kolkata.
Use of Indigenous 5G Test Beds made free of cost to Indian Government recognized start-ups and MSMEs
This Test Bed is providing the Indigenous capability for testing and validation of 5G products being developed and manufactured by Indian start-ups, MSME, R&D, Academia and industry users.
