RBI conference with Asset Reconstruction Companies
The conference emphasized that setting the right tone from the top is crucial in fostering a culture of integrity and ethical conduct. It highlighted several supervisory concerns in the functioning of ARCs. Conference urged the ARCs to adopt a regulation plus approach where there is compliance with both the letter of the regulation and also its spirit. Boards should accord due importance to assurance functions, namely, risk management, compliance and internal audit. These functions play a critical role in identifying and mitigating risks, ensuring compliance with laws and regulations as well as safeguarding the organization’s reputation.
DoT, MHA and State Police join hands to combat cyber fraudsters
DoT has issued directions to telecom service providers for pan India blocking of 28,200 mobile handsets and to carryout immediate reverification of 20 lakh mobile connections linked to these mobile handsets and disconnect failing re-verification.
CBDT releases new functionality in AIS for taxpayers to display status of information confirmation process in real-time
The Central Board of Direct Taxes (CBDT) has now rolled out a new functionality in AIS to display the status of information confirmation process. This will display, whether the feedback of the taxpayer has been acted upon by the Source, by either, partially or fully accepting or rejecting the same. In case of partial or full acceptance, the information is required to be corrected by filing a correction statement by the Source.
EPFO expands ‘Ease of Living’: Reducing service delivery time for claim settlement
To facilitate “Ease of living”, the auto claim solution has now been extended for all claims under para 68K (education & marriage purpose) and 68B (housing purpose) of EPF Scheme, 1952. In addition, the limit has been doubled from earlier Rs. 50,000/- to Rs.1,00,000/-. This move is expected to benefit lakhs of EPFO members.
NSE Reminder for Submission of Half Yearly Internal Audit Report by Clearing Members for the half year ended March 31, 2024
The clearing members shall comply with the regulatory requirements to avoid any penalties/disciplinary actions for late/non-submission of the Internal Audit Report.
MCA extends last date for filing of LLP BEN-2 and LLP Form No. 4D
Keeping in view of transition of MCA-21 from version-2 to version-3 and to promote compliance of reporting requirements by Limited Liability partnerships, it is decided by the competent authority that LLPs may file Form LLP BEN-2 and LLP Form No’ 4D, without payment of any further additional fees, up to 01.07.2024.
SEBI revises the process for validation of KYC records by KRAs under Risk Management Framework
It has been decided to simplify the risk management framework.
DoT advisory to citizens to not to take fake calls threatening disconnection
Department of Telecommunications (DoT), Ministry of Communications, has issued an advisory to citizens to not to take fake calls being received by the citizens wherein callers are threatening to disconnect their mobile numbers, or their mobile numbers are being misused in some illegal activities. Cyber criminals through such calls try to threaten or steal personal information to carry out cyber-crime/financial frauds.
Ministry of Home Affairs issues alert against incidents of ‘Blackmail’ and ‘Digital Arrest’ by Cyber Criminals Impersonating State/UT Police, NCB, CBI, RBI and other Law Enforcement Agencies
Citizens are advised to be alert and spread awareness about these types of frauds. On receipt of such calls, the citizens should immediately report the incident on cybercrime helpline number 1930 or www.cybercrime.gov.in for assistance.
DGFT has exempted notifications by Ministry of Mines on mandatory QCO for goods to be utilised/consumed in manufacture of export products
Import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by Advance Authorization holders, EOU and SEZ is also allowed.
