Press release on need to issue Quality Control Orders (QCOs)
The press release has urged larger companies to support and handhold smaller companies to develop quality consciousness by making them realize that quality would help them grow, get better markets and better prices.
RBI introduces measures to enable all in-bound travellors visiting India to make local payments using UPI
Travellers visiting India can now experience the convenience of UPI payments at over five crore merchant outlets across India, that accept QR Code-based UPI payments.
Consultation Paper on Proposed IFSCA (Management Control, Administrative Control and Market conduct of Insurance Business) Regulations, 2023
Every IIO shall ensure that it shall prevent any entity, from exercising control over it, directly or indirectly, by acquiring significant ownership or interest in the IIO, through portfolio transfers and altered shareholding pattern.
RBI issues notification on Implementation of Indian Accounting Standards (Ind AS)
RBI has been decided that Asset Reconstruction Companies preparing their financial statements as per Indian Accounting Standards, shall reduce the specified amounts from their net owned funds while calculating the Capital Adequacy Ratio and the amount available for payment of dividend.
Incentive scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M)
The scheme will provide financial incentive to acquiring banks for promoting point-of-sale (PoS) and e-commerce transactions using RuPay Debit Cards and person-to-merchant (P2M) transactions of low value (i.e., up to ₹ 2,000) on the BHIM-UPI platform, as per the incentive rates.
Govt. of Delhi notifies the manner of filing an application for refund by unregistered persons
A new functionality has been made available on the common portal which allows unregistered persons to take a temporary registration and apply for a refund under the category ‘Refund for Unregistered person’’.
Delhi Goods and Services Tax (Third Amendment) Rules, 2022
The Amendment Rules seek to revise instruction relating to FORM GSTR-9. GSTR-9 (annual returns) is now amended to mention the period after the FY 2021-22 as ‘April 2022 to October 2022 filed up to 30th November 2022’ instead of ‘April 2022 to September 2022’ in various tables.
TRAI releases recommendations on ‘Rating of Buildings or Areas for Digital Connectivity’
The emphasis of these recommendations is on providing a framework for creation of an ecosystem for Digital Connectivity Infrastructure (DCI). This DCI will be an intrinsic part of building development plan similar to other building services such as water, electricity or Fire Safety System.
IRDAI clarification regarding co-insurance
Where insurers undertake Co-insurance arrangement as part of risk sharing program, it is clarified that the inward co-insurance shall not be considered for the purpose of compliance of minimal coverage of third party risks of motor vehicles.
SEBI Consultation Paper on Streamlining Disclosures by Listed Entities and Strengthening Compliance with SEBI (LODR) Regulations, 2015
Comments may be sent by email to consultationcfd@sebi.gov.inno later than March 06, 2023.
