Consultation Paper on review of the Securities and Exchange Board of India (Informal Guidance) Scheme, 2003
This consultation paper solicits comments and inputs from the public with respect to the proposed changes in the Securities and Exchange Board of India (Informal Guidance) Scheme, 2003 including changes with respect to expanding the scope of the scheme, enhancing the fee levied and rationalizing various processes.
Self-Regulatory Organization(s) recognized in the FinTech Sector
The Reserve Bank had issued the ‘Framework for Self-Regulatory Organisation(s) in the FinTech Sector’ (Framework) and invited applications for recognition as Self-Regulatory Organisation in the FinTech Sector (SRO-FT). The SRO-FT should guide the conduct of its members, ensure that they adhere to industry standards, comply with relevant laws and regulations, and maintain high ethical standards.
Scheme for Trading and Settlement of Sovereign Green Bonds in the International Financial Services Centre in India
The Scheme shall apply to investments in Sovereign Green Bonds issued by the Government of India by eligible investors in the IFSC in India.
Department of Economic Affairs amends Securities Contracts Regulation Rules (SCRR), 1956, facilitating direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC
The Department of Economic Affairs, Ministry of Finance, has amended the Securities Contracts Regulation Rules (SCRR), 1956 to ease the listing requirements for Indian companies seeking to list on international exchanges within International Financial Service Centres (IFSCs) at par with global standards.
Introducing Bulk Upload and API Integration features in electronic Bank Realisation Certificate (eBRC) system
In the pilot phase, the DGFT introduced an online platform where banks could automatically transmit Inward Remittance Messages (IRMs) for Trade Account transactions to the DGFT’s eBRC system. Exporters could then log in to the DGFT website, review these IRMs, and self-certify their eBRCs by matching them with the relevant invoice or Shipping Bill details. DGFT has now rolled out two new features: Bulk Upload and API Integration, effective from August 20, 2024.
Non-Preferential Certificate of Origin (eCoO) system – eCoO 2.0
This upgraded system offers several new and user-friendly features aimed at streamlining the certification process for exporters. The eCoO 2.0 system will be hosted on the following web-domain: https://www.trade.gov.in.
Draft Modalities for Pilot Launch of E-Commerce Export Hubs (ECEH)
Detailed proposal(s) for setting up ECEH may be submitted to DGFT, for examination, support and hand-holding. Based on the said proposal(s), further details including software requirements for ECEH, to facilitate seamless and expeditious export clearances shall be firmed up.
UGC framework for universities to conduct exams for SWAYAM courses
For conducting the end-term examination, the University shall be responsible for setting the Question Papers, evaluation of answer scripts and declaration of examination results.
The Ministry of Road Transport and Highways launches the Voluntary Vehicle Modernization Program or Vehicle Scrapping Policy
To promote the scrapping of privately owned Commercial & Passenger Vehicles and replace the old polluting fleet with the less polluting newer fleet, commercial vehicle and passenger vehicle manufacturers have shown a willingness to offer discounts for a limited period of two years and one year respectively.
Cabinet approves BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Biomanufacturing
The salient features of BioE3 policy include innovation-driven support to R&D and entrepreneurship across thematic sectors. This will accelerate technology development and commercialization by establishing Biomanufacturing & Bio-AI hubs and Biofoundry. Along with prioritizing regenerative bioeconomy models of green growth, this policy will facilitate expansion of India’s skilled workforce and provide a surge in job creation.
