FSSAI permits Instant Renewal of Food Licence or Registration

The Food Safety and Standards Authority of India (FSSAI) has issued an order on instant renewal of license/ registration. The Order was issued on 11th January 2023. The Order seeks to streamline the licensing and renewal process. Hence renewals of licence/ registration will be granted instantly.

RBI issues Press Release on Periodic Updation of KYC details of Customers

The Reserve Bank (RBI) has taken several measures to rationalise the KYC related instructions taking into account the available technological options for enhancing customers’ convenience). The process for the periodic updation of KYC (re-KYC) was simplified in May 2021. The RBI has now issued a press release dated 6th June 2022 encouraging individual customers get more information on the different options available to them from their bank for completing re-KYC or fresh KYC.

Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations, 2023

The Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations, 2023. These Regulations will amend the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993. The Amended Regulations were notified by SEBI on 9th January, 2023 and are effective from that date. The amended regulations inter alia state that a registrar to an issue and share transfer agent who has been granted a certificate of registration will have to pay a fee to keep its registration in force.

GOI establishes Multi-state Cooperative Organic Society under Multi State Cooperative Societies (MSCS) Act, 2002

The Govt. of India has set up a national level cooperative society for organic products under the Multi State Cooperative Societies (MSCS) Act, 2002. This was publicised in a press bulletin issued by the Public Information Bureau dated 11th January, 2023. The establishment of the Committee aims at providing thrust to organic products from cooperative sector by acting as an umbrella organisation for managing various activities related to the organic sector.