Ministry of Chemicals and Fertilizers notifies the scheme for Promotion of Medical Devices Parks.

In order to attract investments in this sector, the Government has allowed 100% foreign direct investments (FDI) in medical devices sector. Similarly, the Government has allowed 100% FDI in pharma sector for greenfield projects under automatic route. For the brownfield projects, upto 74%, FDI investments are allowed under automatic route and beyond 74% to 100%, FDI investments are allowed under government approval route.

The Central Motor Vehicles (Eleventh Amendment) Rules, 2022.

Every vehicle of categories N2 and N3, manufactured on and after the 1st Day of September, 2022, in the case of new models, and 1st day of January, 2023, in the case of existing models, carrying dangerous or hazardous goods, shall be fitted with a vehicle tracking system device as per AIS 140

RBI increases policy Repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis.

Consequently, the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate stand adjusted to 5.15 per cent and 5.65 per cent respectively which was decided by the Monetary Policy Committee (MPC). The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting

RBI notifies statement on developmental and regulatory policies.

RBI proposes to issue draft Reserve Bank of India (Managing Risks and Code of Conduct in Outsourcing of Financial Services) Directions, 2022, for public comments shortly. The scope of these Directions is being expanded to also include RRBs, Local Area Banks (LABs), All India Financial Institutions, Credit Information Companies, and non-scheduled Payments Banks.