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Cabinet approves Modification/addition of the features/ provisions in the ongoing Central Sector Scheme of Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS)
The fund will be utilized towards funding technological initiatives under the scheme namely, YES-TECH, WINDS, etc as well as Research and Development studies.
Cabinet approves extension of One-time Special Package on Di-Ammonium Phosphate (DAP) beyond the NBS subsidy for the period from 01.01.2025 till further orders
Implementation Strategy and targets: The Special package on DAP @ Rs 3,500 per MT will be provided for the period 01.01.2025 till further orders over and above the approved NBS subsidy to ensure smooth availability of DAP fertilizer to the farmers at affordable price.
SEBI Introduction of a Mutual Funds Lite (MF Lite) framework for passively managed schemes of Mutual Funds
The new “Mutual Funds Lite” (MF Lite) framework has been designed to cater specifically to passively managed mutual fund schemes, providing a relaxed and simplified regulatory framework compared to traditional actively managed funds. This move is part of SEBI’s broader strategy to encourage more players in the market, foster investment diversification, and enhance market liquidity.
Clarifications to Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities
SEBI’s decision to offer regulatory forbearance until March 31, 2025, and extend compliance timelines for certain entities demonstrates a flexible and supportive approach to the introduction of the CSCRF. This allows regulated entities to make meaningful progress toward compliance without facing the immediate consequences of non-compliance. With the added provision for further consultations on data localisation, SEBI is ensuring that the regulatory framework evolves in response to industry feedback. These measures should provide market participants with the time and space they need to align their operations with the new regulations, fostering a smoother and more effective transition into 2025.
SEBI circular for implementation of recommendations of the Expert Committee for facilitating ease of doing business for listed entities
SEBI’s recent circular on implementing the Expert Committee’s recommendations is a significant step towards making the regulatory environment more business-friendly for listed entities in India. The introduction of Integrated Filing is a crucial development in this process, aiming to reduce the compliance burden while ensuring that the necessary corporate governance and financial disclosures are met. As these amendments take effect in the coming months, listed entities are expected to benefit from a smoother, more streamlined filing process, promoting greater efficiency and transparency in India’s capital markets.
CBIC revises Procedure to locate e-payment challan
Central Board of Indirect Taxes and Customs vide circular has issued a Procedure to locate e-payment challan under ICEGATE portal.
RBI releases the Financial Stability Report, December 2024
Reserve Bank released the December 2024 issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system and risks to financial stability.
Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems
Banks which are participants of RTGS and NEFT Systems, shall make this facility available to their customers through Internet banking and Mobile banking. The facility shall also be available to remitters visiting branches for making transactions. Detailed requirements for the same are provided in the Annex.
SEBI withdraws recognition granted to the Indian Commodity Exchange Limited
The Securities and Exchange Board of India has now notified that, the recognition granted to the Indian Commodity Exchange Limited stands withdrawn.
