SEBI clarification on Valuation of Additional Tier- 1 Bonds
In order to align the valuation methodology with the recommendation of NFRA, it has been decided that the valuation of AT-1 Bonds by Mutual Funds shall be based on Yield to Call.
RBI releases draft circular on ‘Regulatory Principles for Management of Model Risks in Credit’
The Comments on the draft circular are invited from public/stakeholders by September 4, 2024.
RBI directions for Prudential Treatment of Bad and Doubtful Debt Reserve by Co-operative Banks
With effect from the FY 2024-25, all provisions as per Income Recognition, Asset Classification and Provisioning (IRACP) norms3, whether accounted for under the head “BDDR” or any other head of account, shall be charged as an expense to the P&L account in the accounting period in which they are recognised. The eligibility of such provisions for regulatory capital purposes shall continue to be as defined in the extant guidelines on capital adequacy.
New Punjab Agricultural Produce Markets (General) Amendments Rules 2024
The latest amendment aims to simplify processes for government purchase agencies involved in agricultural markets. By exempting these agencies from the requirements of KYC documentation and bank guarantees, the amendment is set to reduce bureaucratic hurdles and facilitate smoother operations.
New Extension of Public Utility Service Status
On July 30, 2024, the Ministry of Labour and Employment announced a significant update regarding the status of certain industrial undertakings under the Ministry of Finance. This move reflects the government’s ongoing commitment to maintaining essential services that are crucial for public welfare.
New Exemption from Annual Return Filing for Small Businesses
The Government of Assam’s latest notification provides relief to smaller businesses by exempting those with a turnover up to ₹2 crore from annual return filings for the financial year 2023-24
New Corrigendum on Minimum Wage Notification
The corrigendum issued by the Government of Meghalaya ensures clarity and accuracy in the implementation of minimum wage changes.
New Notification on Working Hours for Women Employees
The Government of Meghalaya has revised its notification concerning the working hours for female employees on 10th January 2024. The new guidelines emphasize safety and consent, reflecting a more nuanced approach to managing work hours for women.
New Extension For Public Utility Status for Critical Industries
The Ministry of Labour and Employment on August 2nd 2024 has extended the public utility service status for industries involved in the manufacturing of alumina and aluminium, as well as the mining of bauxite. This move comes as part of an effort to ensure uninterrupted service and stability in these critical sectors.
New Electronic Refund Process for CSD: A Step Towards Efficiency
The Government of Assam issued a circular detailing the procedure for processing refund applications filed by the Canteen Stores Department (CSD).
