On August 20, 2024, the Ministry of Finance’s Department of Financial Services issued a significant notification addressing the accessibility needs of persons with disabilities within the insurance sector. This action aligns with the Rights of Persons with Disabilities Act, 2016, which mandates the Central Government to establish accessibility standards across various domains, including physical environments, transportation, and communication systems, in consultation with the Chief Commissioner for Persons with Disabilities. The newly released “Accessibility Standards and Guidelines for Infrastructure and Services in the Insurance Sector” were crafted after thorough consultations with relevant stakeholders and the office of the Chief Commissioner. These guidelines aim to ensure that insurance facilities and services are accessible to individuals with disabilities in both urban and rural areas. The complete guidelines can be accessed on the Ministry’s official website at https://financialservices.gov.in.
Foreign Currency Accounts by Resident Individuals: Fifth Amendment
22 January 2025
A new sub-regulation (CA) under Regulation 5 now permits Indian exporters to open, hold, and maintain Foreign Currency Accounts with banks outside India. This allows
