FSSAI amends the scheme for testing and inspection to be followed by Diary Processing plants.
The Food Safety and Standards Authority of India in its notification dated 10th January, 2020 has amended its earlier notification on guidelines on Scheme of Testing and Inspection which was to be adopted by dairy processing plants for the purpose of self-monitoring and strengthening of internal controls.
SEBI prescribes format to file statement of deviation or in use of fund raised by NCRPs and NCDs
The Securities Exchange Board of India vide Notification dated 17 January 2020 has issued a format for filing statement indicating deviation or variation in use of fund raised by NCRPs. The statement indicating deviation report shall be placed before the Audit Committee, or in its absence, the Board of Directors, of the listed entity for review on half-yearly basis and after such review, the comments of Audit Committee along with the report shall be disclosed/submitted to the stock exchange, as part of the format.
The Government of West Bengal has issued new minimum wages
The Government of West Bengal vide circulars issued by labor department dated 27/12/2019 has issued new minimum wages for employees of factories, restaurants, hotels, boarding houses, eating houses, canteens, clubs and guest houses. The new rates shall be effective from 1st January 2020 to 30th June 2020.
SEBI Permits stock exchanges to launch “options in goods” in commodities.
The Securities and Exchange Board of India vide Notification dated 16th January 2020 has permitted option in goods in commodity derivatives segment. It has also notified the product design and risk management framework for the option.
SEBI exempts certain entities from clubbing of investment limit.
The Securities and Exchange Board of India vide Notification dated 16th January 2020 has exempted certain overseas government agencies and their related entities from clubbing of investment limit and other investment conditions either by way of an agreement or treaty with other sovereign governments or by an order of the Central Government.
RBI permits Authorized Dealers Category – I banks to voluntarily undertake user and Inter-Bank transactions beyond onshore market hours.
The Reserve Bank of India(RBI) has vide Notification dated January 6, 2020, has issued amendment to Master Direction on Risk Management and Inter Bank Dealings. The amendment seeks to Permit Authorized Dealers Category – I banks to voluntarily undertake user and Inter-Bank transactions beyond onshore market hours.
RBI allows Financial Institutions to Conduct Business in Indian National Rupee in IFSC.
The Reserve bank of India vide Foreign Exchange Management (International Financial Services Centre) (Amendment)
Regulations, 2020 permits the financial institutions or a branch of a financial institution to, with express permission of RBI, conduct such business in Indian Rupee with such persons whether resident or otherwise as it may determine.
ESIC directs the regional authorities to carry out inspection only in certain cases
The Employees State Insurance Corporation in its notification dated 13th January 2020 has informed the authorities that there is no need to make inspection visits in all cases of late registration of employees by employers. Inspection needs to be undertaken only in case of super specialty treatment/Death/Accident where the RO/SRO has sufficient cause to believe that the delay was not for obtaining any undue benefits.
RBI directs card issuers to enhance security for card transactions.
The Reserve Bank of India in its Notification dated 15th January, 2020 has issued compliance directions to enhance security of card transactions under the Payment and Settlement Systems Act, 2007 and this Notification shall be effective from 16th March, 2020.
SEBI Issues guidelines pertaining to rights issue of units by listed real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).
SEBI Issues guidelines on issuance of units under the rights issue by listed real estate investment trust (REIT) and infrastructure investment trust (InvIT)
