The Electricity (Late Payment Surcharge and Related Matters) Rules, 2022.
As per the rule, Late Payment Surcharge shall be payable on the payment outstanding after the due date at the base rate of Late Payment Surcharge applicable for the period for the first month of default. The rate of Late Payment Surcharge for the successive months of default shall increase by 0.5 per. cent for every month of delay provided that the Late Payment Surcharge shall not be more than three per. cent higher than the base rate at anytime.
Reserve Bank of India (Variation Margin) Directions, 2022.
The Non-resident financial entities having an AANA of outstanding NCCDs of USD 3 billion and above, on a consolidated group wide basis and Other non-resident entities having an AANA of outstanding NCCDs of USD 8 billion and above, on a consolidated group wide basis shall be classified as Foreign Covered Entities under these Directions.
SEBI strengthens Investor Grievance Redressal Mechanism.
A complainant/member, who is not satisfied with the recommendation of the IGRC shall avail the arbitration mechanism of the Stock Exchange for settlement of complaints within three months from the date of IGRC recommendation.
The Chartered Accountants (2nd Amendment) Draft Regulations, 2022.
The Amendment is brought under regulation 5 which deals with “application for membership”in which if a person, desires to have his name entered in the Register shall submit to the Secretary an application, in the appropriate Form, together with documentary evidence about his eligibility for membership and such fee as may be determined by the Council.
IRDAI eases Capital requirements under PMJJBY to encourage more insurers to participate.
The easing of capital requirement by IRDAI will accelerate the penetration of life insurance in India, and will support the life insurers in achieving the target set by the Government.
UGC issues circular regarding youth parliament program.
The UGC has been running the Youth Parliament programme in various educational institutions of the country since 1966 with an objective to strengthen the roots of Parliamentary democracy, inculcate healthy habits of discipline.
SEBI notifies procedure for seeking prior approval for change in control of Portfolio Managers.
According to the new procedure, online application shall be made by Portfolio Manager to SEBI for prior approval through the SEBI Intermediary Portal (https://siportal.sebi.gov.in). The prior approval granted by SEBI shall be valid for a period of six months from the date of such approval.
NSE introduces new module to update NSEIL CDS instruments on ENIT.
The details of the existing instruments given in CD segment shall be available to the member on the ENIT portal. Therefore members are requested to submit all requests for addition, renewal, substitution of instruments given toward NSEIL IFSD in CD segment through the said module only.
NMC issues advisory on usage of khadi products in medical colleges/institutions.
The khadi products are not only beneficial for health but also eco-friendly, therefore doctors are mandatorily advised to wear white coat made of khadi during their duty hours.
SEBI extends facility for conducting AGM of unitholders of REITs and InvITs through VC or OAVM.
SEBI has decided to extend the facility to conduct annual meetings of unitholders in terms of Regulation 22(3) of SEBI (REIT) Regulations, 2014 and Regulation 22(3)(a) of SEBI (InvIT) Regulations, 2014 and meetings other than annual meeting, through VC or OAVM till December 31, 2022.