RBI directs banks to reclassify MSMEs as per the revised criteria
The Reserve Bank of India vide its notification dated 2nd July 2020 has directed banks, financial institutions, and NBFCs to reclassify micro, small and medium enterprises on the basis of the new criteria.
RBI extends timeline for the finalization of audited accounts by NBFC
Every applicable NBFC shall finalize its balance sheet within a period of 3 months from the date to which it pertains or any date as notified by SEBI for submission of financial results by listed entities.
Government of Karnataka issues direction to laboratories for entering COVID-19 reports in ICMR portal
The State Government of Karnataka has issued instructions to COVID-19 testing laboratories to mark the sample as “under process” till the final report is uploaded. The government has proposed to send the test result through SMS to the suspect based on the negative result uploaded by the testing lab on the ICMR portal and directs the laboratories to discontinue the practice of uploading all samples received as negative.
The Government of Haryana extends the timelimit for one-time settlement scheme for milk cess
The State Government of Haryana has extended the allowed period for opting the one-time-settlement scheme for Milk cess dues up to 30th September 2020 and 31st December 2020 due to the COVID-19 pandemic.
Punjab government seeks to provide Fixed Term Employees same benefits as provided to permanent employees
The draft amendment to Industrial Employment (Standing Orders) Punjab Rules, 1978. defines Fixed Term Employment Workman and they shall be provided same hours of work, wages, allowances and benefits as permanent employees. No permanent employee can be converted into a Fixed Term employment Workman.
