SEBI extends two-factor authentication for transactions in units of Mutual Funds.
In case of subscription and redemption of units, Two-Factor Authentication (for online transactions) and signature method (for offline transactions) shall be used for authentication. One of the Factors for such Two-Factor Authentication for non-demat transaction shall be a One-Time Password sent to the unit holder at his/her email/ phone number registered with the AMC/RTA. In case of demat transaction, process of Two-Factor authentication as laid down by the Depositories shall be followed.
RBI hikes Repo Rate by another 50 basis points to 5.9%
Consequently, the standing deposit facility (SDF) rate stands adjusted to 5.65 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.15 per cent. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
The Legal Metrology (Packaged Commodities) (Amendment) Rules, 2022
As per the Legal Metrology (Packaged Commodities) Amendment Rules, 2022, the unit sale price in rupees, rounded off to the nearest two decimal place, shall be declared on every pre-packaged commodities in the following manner.
SEBI issues circular for portfolio managers.
Portfolio Managers with assets under management of INR 1000 crores or more under discretionary and non-discretionary services, shall have in place an automated system with minimal manual intervention for ensuring effective funds and securities management including order management and allocation of securities to each client.
SEBI extends the timeline for implementation of Standardized industry classification by Credit Rating Agencies (CRAs).
Further, as the standardized industry classification will be reviewed and published by Stock Exchanges on periodical basis, in view of same, the Annexure A of Circular No. SEBI/HO/MIRSD/CRADT/CIR/P/2022/42 dated April 01, 2022 stands deleted and CRAs are directed to follow the standardized industry classification published by Stock Exchanges from time to time.
SEBI permits participation of Foreign Portfolio Investors in Exchange Traded Commodity Derivatives in India
The participation of FPIs including individuals, family offices and corporates shall be subject to compliance with the provisions of SEBI(Foreign Portfolio Investors)Regulations, 2019, SEBI (Custodian) Regulations, 1996 and other applicable SEBI circulars on ETCDs.
Revised scheme for flexibility in generation and scheduling of thermal/hydro power stations through bundling with renewable energy and storage power
The requirement to annex with the power purchase agreement the standard terms and conditions for renewable energy bundling for facilitating operation of the scheme is removed by the amendment.
CBIC commences CGST amendments provided under Finance Act, 2022
CBIC commences CGST amendments provided under Finance Act, 2022 w.e.f 1st October, 2022.
Karnataka Protection of Interest of Depositors in Financial Establishments (Amendment) Act, 2022
When trying an offence under this Act, the Special Court may also try an offence, other than an offence under this Act, with which the accused may, under the Code of Criminal Procedure, 1973, be charged at the same trial.
Draft Electrical Equipment Safety (Omnibus Technical Regulation) Order, 2022
Each machine and electrical equipment specified in the order shall conform to the labeling and marking requirements, comply with the safety instructions or symbols, if any required to be labeled or marked on the machinery or electrical equipment and shall also bear the standard mark under a license from the Bureau.
