RBI announces the SAARC Currency Swap Framework for the period 2024 to 2027
Under the Framework for 2024-27, a separate INR Swap Window has been introduced with various concessions for swap support in Indian Rupee. The total corpus of the Rupee support is ₹250 billion. The RBI will continue to offer swap arrangement in US$ and Euro under a separate US Dollar/ Euro Swap Window with an overall corpus of US$ 2 billion.
Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024
The Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024, represent a significant update to India’s export-import regulatory framework. By emphasizing timely declarations, standardized payment receipts, and flexible yet stringent compliance measures, these regulations aim to facilitate smoother trade operations while safeguarding India’s foreign exchange interests. For exporters and importers, understanding and adhering to these regulations is crucial for seamless international trade and financial transactions.
Reserve Bank of India and ASEAN Countries to Create a Platform to Facilitate Instantaneous Cross-Border Retail Payments
The Reserve Bank of India has now joined the Project Nexus, a multilateral international initiative to enable instant cross-border retail payments by interlinking domestic FPSs. Nexus, conceptualized by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect the FPSs of four ASEAN countries (Malaysia, Philippines, Singapore, and Thailand); and India, who would be the founding members and first mover countries of this platform.
SEBI consultation paper to gather public and stakeholder input on the recommendations made by an Expert Committee
The Securities and Exchange Board of India (SEBI) has released a consultation paper to gather public and stakeholder input on the recommendations made by an Expert Committee. These recommendations aim to facilitate ease of doing business and harmonize the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations) and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations).
SEBI has introduced significant amendments to the Stock Brokers Regulations of 1992
Key managerial personnel and senior management, including Designated Directors, are required to implement robust systems for monitoring trading activities and internal controls to ensure regulatory compliance. These systems must be capable of detecting, preventing, and reporting potential fraud or market abuse by clients, employees, or Authorized Persons.
MIB warning against Violation of Policy Guidelines, 2022 by the permission holders by letting out the TV Channels
MIB has warned TV Channels misusing the permission and authorizing /enabling /contracting out the operations or other core functions/activities of the channel to any non- permitted entity/ person(s)/company/ LLP through any explicit or implicit agreement or arrangement, without the prior permission of this Ministry.
PFRDA allows Same Day Investment of NPS contributions (T+0) received by Trustee Bank
With advancements in technology and a robust system-level interface between TB and CRAs, contributions received by TB till 11 AM (T) on any settlement day will now be considered for same-day investment. Contributions received by TB after 11 AM will be invested on the next day (T+1).
SEBI consultation Paper for introduction of Mutual Funds Lite Regulations(MF LITE)for passively managed Mutual Funds Schemes
The objective of this consultation paper is to seek comments / views from the public on the proposals related to introduction of a relaxed regulatory framework in the Mutual Funds(MF) segment viz, “the MF Lite Regulations” for the passively managed MF schemes.
Central Consumer Protection Authority (CCPA) discusses warranty related issues with electronic appliance manufacturing companies
During the meeting, it was deliberated that electronic appliances are generally of two categories – ‘plug-n-play’ products such as iron press, microwave etc. which do not require any installation and products requiring installation such as air conditioners, refrigerators etc. The feasibility of having date of installation as the date from which warranty period should be calculated was discussed during the meeting. Further, it was discussed that measures may be explored to prevent abuse of this mechanism and to ensure that consumer interest is adequately safeguarded.
Press release to publicize the implications of Telecommunications Act, 2023
The Telecommunications Act, 2023 aims to amend and consolidate the law relating to development, expansion and operation of telecommunication services and telecommunication networks; assignment of spectrum and for matters connected therewith. The Telecommunications Act, 2023 also seeks to repeal existing legislative framework like Indian Telegraph Act,1885 and Indian Wireless Telegraph Act, 1933 owing to huge technical advancements in the telecom sector and technologies.
