Guidelines on treatment of Dividend Equalisation Fund (DEF)- Primary (Urban) Co-operative Banks (UCBs)
“Declaration of Dividends by UCBs” dated July 05, 2012 ibid prohibit dividend payments from previously accumulated profits or reserves and mandate that dividend can only be paid by the banks from net profit of the current year after making all statutory and other provisions and after adjustment for accumulated losses in full. It is also observed that UCBs have been considering the balances in DEF as part of Tier-II capital. In order to provide a better treatment of these balances for regulatory capital purposes, it has been decided, as a onetime measure, to permit UCBs to transfer the balances in the DEF to general reserves/free reserves. The credit balances in general reserves/free reserves, shall qualify as Tier-I capital.
Draft directions on Due Diligence of AePS Touchpoint Operators
Comments / feedback on the draft directions may be sent by email or by post to the Chief General Manager-in-Charge, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001, on or before August 31, 2024.
Framework on Alternative Authentication Mechanisms for Digital Payment Transactions
Comments / feedback on the draft framework may be sent by email or by post to the Chief General Manager-in-Charge, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001, on or before September 15, 2024.
New Kerala Motor Transport Workers (Amendment) Rules,2024
The Labour and Skill Department, Kerala on July 26, 2024, issued the Draft Kerala Motor Transport Workers (Amendment) Rules, 2024 to further amend the Kerala Motor Transport Workers Rules, 1962. This draft amendment aims to update and refine the regulations governing motor transport workers in the state.
New National Action Program to Combat Desertification
On July 29th, 2024, the Ministry of Environment, Forest and Climate Change (MoEF&CC) announced the National Action Programme to Combat Desertification. This ambitious plan aims to tackle land degradation and desertification through a range of sustainable strategies, with a focus on enhancing forest cover and implementing effective eco-restoration initiatives.
PM-KISAN Scheme: New Transformation for Farmer Welfare in India
The PM-KISAN scheme, along with MSP policies and procurement mechanisms, showcases the Indian government’s dedicated efforts to support and sustain the agricultural sector. By ensuring timely financial assistance, transparent transactions, and fair pricing, these initiatives aim to bolster the livelihoods of farmers and promote sustainable agricultural practices across the country.
New Insights into DPCO, 2013 and NPPA Oversight
The DPCO, 2013, is a cornerstone in India’s pharmaceutical regulation, balancing the interests of manufacturers and consumers by ensuring fair drug pricing. Through annual revisions, strict GMP compliance, and vigilant monitoring, the NPPA ensures that medications remain affordable and accessible, reflecting the government’s commitment to public health.
New Initiatives to Revamp Urban Transport System
On July 29th, 2024, the Ministry of Housing & Urban Affairs (MoHUA) issued a notification detailing new steps to revamp the urban transport system in India. These steps aim to improve the sustainability, efficiency, and integration of urban transport infrastructure.
Tea Board Revises List of NABL Accredited Laboratories Under Integrated Assessment Scheme
The Tea Board has updated its list of laboratories approved under the Integrated Assessment Scheme. This list was last updated on July 3, 2024. The list identifies 42 laboratories across India that meet the Tea Board’s stringent quality standards.
India’s First Prototype Fast Breeder Reactor Gets Green Signal
A significant milestone has been achieved in India’s nuclear energy program with the Atomic Energy Regulatory Board (AERB) granting permission for the “first approach to criticality” of the 500 MWe Prototype Fast Breeder Reactor (PFBR) at Kalpakkam.
