RBI Revises investment by foreign portfolio investors (FPI) in Debt.
The Reserve Bank of India has eased the investment norms for foreign portfolio investors in debt. FPIs cap on investment in government security and corporate bonds is raised from 20% to 30% outstanding stock of that security, .
RBI raises investment limit for foreign portfolio investor’s investment in debt.
The Reserve Bank of India vide notification dated 23rd January 2020 has raised the investment limit for FPIs investment through the Voluntary Retention Route. Only those FPI registered with SEBI are eligible to participate in this Voluntary Retention Route. Further the FPIs are also allowed to invest in exchange-traded funds that invest only in debt instruments.
GST Taxpayers shall now file their GSTR-3B return in staggered manner.
The finance ministry has staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers, in a moved aimed at de-stressing the system. The taxpayers are categorized on basis of both annual turnover and state of residence.
Mumbai to be awake 24X7 from January 27
The Government of Maharashtra on the meeting held on 16 January 2020 has directed that the Shops and Establishments are to be allowed to function 24/7 with the exception of sale of alcohol, to implement `vibrant nightlife’ proposal for Mumbai with the prime intention of promoting tourism. The BMC and Mumbai police chiefs expressed their willingness to allow such establishments to stay open 24X7 without selling alcohol beyond the current cut-off of 1:30 am. The commercial establishments has responded that they would be in a position to operate 24X7 from January 27.
SEBI Proposes to reduce time for right issue process.
The Securities and Exchange Board of India, vide Circular dated 22nd January 2020, has simplified the rights issue process to make it more efficient and effective, by amending the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”)and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). This circular shall be applicable for all rights issues and fast track rights issue where Letter of Offer (LoF) is filed with the stock exchanges on or after February 14, 2020.
SEBI has has specified the uniform structure for imposing fines as a first resort for non-compliance with LODR regulations
SEBI in its recent circular has specified a uniform structure for imposing fines as a first resort for non-compliance with certain provisions of the Act.
SEBI notifies new norms for portfolio manager.
The Securities and Exchange Board of India has notified its norms for portfolio managers by doubling the minimum investment amount to be taken from clients to Rs 50 lakh
RBI Issues Operational Guidance for UCB Large Exposure Reporting.
The Reserve Bank of India in its Notification dated 16 January 2020 has directed the Primary (Urban) Co-operative Banks (UCBs) having total assets of ₹500 crore to report to the central repository, within a month of end-of-quarter. The Guidelines stipulates the banks to submit the data on large exposures through XBRL reporting platform.
Contractual employees entitled to get Employee provident fund.
the Supreme Court has held in a recent judgment, that the benefits of the provident fund should be extended to contractual employees.
FSSAI Issues clarification on Rectification process for cases of minor labeling defects.
FSSAI has issued a clarification on the process to be followed by the food safety authority while perceiving a need for rectifying minor labelling defects on food products. The labeling has been categorized into exceptions (minor labeling defect of insignificant nature and without any food safety concern) and mandatory cases (against which adjudication action would be taken).
