SEBI Consultation paper on review of requirements of alignment of interest of the Designated Employees of the AMC with the interest of the unitholders
The Securities and Exchange Board of India (SEBI) is pushing forward requirements for Asset Management Companies (AMCs), aiming to align the interests of AMC employees with those of investors. SEBI’s latest consultation paper invites public feedback on these proposals, which impact different levels of AMC employees in terms of investment requirements, lock-in periods, and disclosure obligations.
PM Electric Drive Revolution in Innovative Vehicle Enhancement
The ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)’ Scheme was recently approved by the Cabinet, came into effect on October 1, 2024, and will remain in force until March 31, 2026. The primary goal of the scheme is to accelerate the adoption of electric vehicles (EVs), develop essential charging infrastructure, and establish a robust EV manufacturing ecosystem across the country.
PM-Vidyalaxmi scheme to provide financial support to meritorious students
The Department of Higher Education will have a unified portal “PM-Vidyalaxmi” on which students will be able to apply for the education loan as well as interest subvention, through a simplified application process to be used by all banks. Payment of interest subvention will be made through E-voucher and Central Bank Digital Currency (CBDC) wallets.
Market Infrastructure Institutions (Amendment) Regulations, 2024
These amendments aim to strengthen the governance, operational integrity, and risk management protocols of MIIs, including stock exchanges, clearing corporations, and depositories. Here’s a breakdown of the key updates and their implications.
Ayurveda Biology introduced as a subject in the UGC National Eligibility Test
Based on the expert committee’s recommendations, the Commission, in its 581st meeting held on 25th June, 2024, has decided to add “Ayurveda Biology” as an additional subject from December 2024 onwards to the existing list of subjects of UCC-NET.
Release Time for Consumer Price Index & Index of Industrial Production Revised
MoSPI has decided that CPI and IIP data will be released at 4:00 PM on the 12th of each month. If the 12th falls on a holiday, the release will be on the next working day for CPI and the previous working day for IIP. The new release time aligns with the closing hours of major financial markets in India. This ensures that the dissemination of CPI data does not disrupt active trading activity.
Revised Application of Hallmarking Standards for Gold Jewellery and Artefacts
The Central Government has issued a new order to amend the Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020. This amendment aims to further revise the list of states and districts to which the order will apply. The Order currently applies to 26 states in India.
Indian Nursing Council Launches Pilot DNP Program in India
The Indian Nursing Council (INC) has launched the Doctorate in Nursing Practice (DNP) program on a pilot basis. The program was launched at two universities: Mahatma Gandhi Mission Institute of Health Sciences (MGMIHS) in Navi Mumbai and Krishna Institute of Medical Sciences Deemed to be University (KIMSDU) in Karad. A press release on the launch was issued on November 6, 2024.
Medical Colleges Required to Submit Annual Declarations on NMC Portal by November 15th
The National Medical Commission (NMC) has issued a public notice reminding all medical colleges with valid permission for MBBS admissions to submit their annual declarations on the NMC portal. This is mandatory for the renewal of permission for undergraduate MBBS seats for the academic year 2025-26. The deadline for submitting this data is November 15, 2024.
Ministry of Agriculture Releases First Advance Estimates
The Ministry of Agriculture and Farmers’ Welfare (MoA&FW) has released its First Advance Estimates for the production of major agricultural crops during the 2024-25 Kharif season (monsoon season). These estimates predict a significant increase in overall food grain and oilseed production compared to the previous year.
