RBI guidelines concerning the process of changing the names of co-operative banks
Guidelines mandates that after obtaining the NOC from the relevant RBI office, cooperative banks must approach the Central Registrar of Co-operative Societies (CRCS) or Registrar of Co-operative Societies (RCS) for amendment in their bye-laws.
Draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services
Comments / Feedback, if any, may be sent by email with the subject line “Comments on draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services”, by November 28, 2023.
Credit Information Companies (CICs) and Credit Institutions (CIs) to implement a compensation framework
The compensation framework will come into effect six months from the date of this circular. CICs and CIs are directed to establish the necessary systems and processes to adhere to the framework within this period. Failure to comply with these guidelines can result in penal actions under the provisions of CICRA, 2005.
Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023
These new rules come into force upon their publication in the Official Gazette, signaling the government’s commitment to swift implementation. They aim to streamline the issuance and management of securities and are particularly relevant for public and private companies.
Additional directions regarding issuance of Customer Information Sheet (CIS) by insurance companies
Insurers, intermediaries and agents shall forward the Customer Information Sheet to all policyholders and acknowledgement, physical or digital, shall be duly obtained.
Customer Information Sheet template for insurance companies
CIS highlights the obligations of policyholders to make transparent and fair disclosures of relevant material information pertaining to their health, as non-disclosure of the same may affect the claim settlement. The insurers are also required to obtain signatures of the policyholders confirming that they have noted the details of CIS and received it.
Amendment of Arbitration Clause in General Insurance policies
All policies issued under the Commercial Lines of Business shall have an Arbitration Clause. All policies issued under the Retail Lines of Business shall not have any Arbitration Clause.
Ministries of Coal and New & Renewable Energy Join Forces to Boost Green Energy Initiatives
Under this cooperative framework, the MNRE will extend its support by providing technical expertise, policy guidance, and capacity-building assistance. Simultaneously, the Ministry of Coal will facilitate the availability of land and capital while actively participating in the implementation of solar energy, green hydrogen, and various other renewable energy projects.
Celebrating 60 Years of Codex Alimentarius: FSSAI and FICCI Organize Seminar
The seminar consisted of two panel discussions on the future of Codex and the imperative to enhance capacity for greater Codex participation in the coming decade. India’s engagement in Codex activities were also recognized, with achievements such as hosting the Codex committee on spices and culinary herbs, co-hosting various sessions on food hygiene and contaminants, and chairing and co-chairing working groups within the Codex system.
FSSAI publishes Updated List of Recognised Food Testing Laboratories
The present list includes the validity of the laboratories’ NABL accreditation, scope of testing as on 26th October, 2023 for the purpose of carrying out the analysis of food samples taken under the Food Safety and Standards Act, 2006 and Rules and Regulations made thereunder.
