RBI publishes the report of Regulations Review Authority (RRA 2.0).
The report, inter alia, contains recommendations on ease of compliance and reduction in regulatory burden, streamlining of reporting mechanism and dissemination and ease of accessibility of regulatory instructions.
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2022.
In order to improve information availability, the amendment places a duty on corporate debtor, its promoters or any other person associated with the management of the corporate debtor to provide the information in such format and time as sought by the resolution profession
SEBI cautions investors against dealing with unregulated algo-trading platforms.
It has come to the notice of SEBI that many unregulated platforms are offering investors Algorithmic Trading services/facilities to automate their trades Strategies are being marketed with “claims” of huge return on investment along with “ratings” assigned to the strategies and claims that similar returns would be earned in the future. Investors are cautioned that these platforms are unregulated and thus there is no investor grievance redressal mechanism covering their activities.
Clarification regarding import of crude soya bean oil by Tariff Rate Quota Licensees
All imports of crude soya bean oil by Tariff Rate Quota Licensees shall be used for consumption or domestic processing. It cannot be exported before or after processing.
IRDAI discontinues certain returns
IRDAI discontinue certain online and offline returns.
Online portal open to apply for eligibility certificate for foreign medical graduate examination screening test
The complete online application shall be submitted during the period between 15 June, 2022 and 15 July, 2022 to be eligible to attend the test.
IRDAI notifies Use & file (U&F) procedure for life insurance products & riders.
The Product Management Committee (PMC) shall review and approve the products/riders in line with Board Approved Product Management & Pricing Policy (BAPMPP) before filing with the Authority under Use & File procedure. The PMC shall ensure that the Benefits reflecting in sales literature, Terms and Conditions reflecting in Policy document shall be consistent with the design approved.
Department of Consumer Affairs directs E-commerce food business operators to submit proposal on improving consumer grievance redressal mechanism within 15 days.
The National Restaurant Association of India (NRAI) raised the issue of customer information not being shared by the e-commerce FBOs with the restaurants which impacts their ability to serve the consumer needs better. Further, delivery charges are determined and levied by the latter. Further, a commission of around 20% is also charged by the online FBOs on each order.
IRDAI reduces solvency margin requirement for crop insurance business.
IRDAI has earlier granted relaxation on the period of admissibility of premium due from Government for solvency calculation purpose, from 180 days to 365 days which has now, been extended from FY 2022-23 onwards till further orders.
Central Electricity Regulatory Commission (Sharing of Inter-State Transmission Charges and Losses) (First Amendment) Draft Regulations, 2022.
Bills for transmission charges shall be raised on the buyer in terms of this clause notwithstanding any provisions in the PPA and the settlement of the transmission charges inter se between the buyer and the generating station or the seller, wherever necessary, shall be made in terms of the PPA or as per the mutual agreement.
