RBI extends the timeline for implementing certain provisions related to credit and debit cards.

Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance. If no consent is received for activating the card, card-issuers shall close the credit card account without any cost to the customer within seven working days from date of seeking confirmation from the customer.

Income-tax (19th Amendment) Rules, 2022

Every specified person responsible for deduction of tax at source @1% on the payment of purchase consideration to a resident person, on transfer of a virtual digital asset under section 194S shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorized by the Principal Director General of Income-tax (Systems) or the Director General of Income tax (Systems), a challan-cum-statement in Form No. 26QE electronically within thirty days from the end of the month in which the deduction is made.

The Surrogacy (Regulation) Rules, 2022.

Surrogacy clinics shall have at least one gynaecologist, one anesthetist, one embryologist and one counselor. The clinic may employ additional staff by the Assisted Reproductive Technology Level 2 clinics; normally Director, Andrologist and shall appoint such staff as may be necessary to assist the clinic into day-to-day work.

MeitY invites feedbacks and comments on the Draft Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.

The Draft Amendment has proposed to create an appellate body called ‘Grievance Appellate Committee’ under rule 3(3) of the IT Rules 2021 having regard to additional guidelines as may be prescribed by the Central Government. Users will have the option to appeal against the grievance redressal process of the intermediaries before this new appellate body. The Committee will endeavor to address the user’s appeal within a period of 30 days. This is made necessary because currently there is no appellate mechanism provided by intermediaries nor is there any credible self-regulatory mechanism in place.