Reserve Bank of India releases Discussion Paper on Charges in Payment Systems.

The discussion paper covers all aspects relating to charges in payment systems [such as Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system and Unified Payments Interface (UPI)] and various payment instruments [such as debit cards, credit cards and Prepaid Payment Instruments (PPIs)], etc. The feedback received would be used to guide policies and intervention strategies.

Department of Consumer Affairs invites Public Consultation for declaring two or more prime constituents of the commodity on front side of the package with the Brand Name/ Logo.

It is observed that many manufacturers/ packers/ importers are not making important declarations prominently on the Front side of the Package which is necessary in the interest of consumers and also violate their consumer right of “Right to be informed”. The declaration of unique selling point / unique selling proposition (USP) of the product on the front side of the package without it’s percentage of composition is against the consumer rights.

SEBI notifies Guidelines for overseas investment by Alternative Investment Funds (AIFs) / Venture Capital Funds (VCFs)

As per the new guidelines, AIFs/VCFs shall file an application to SEBI for allocation of overseas investment limit in the notified format and they shall invest in an overseas investee company, which is incorporated in a country whose securities market regulator is a signatory to the International Organization of Securities Commission’s Multilateral Memorandum of Understanding or a signatory to the bilateral Memorandum of Understanding with SEBI.

Ministry of Port notifies Draft Indian Ports Bill, 2022.

The bill provides for adjudicatory mechanisms for redressal of port related disputes and to establish a national council for fostering structured growth and development of the port sector, and ensure optimum utilization of the coastline of India, as may be necessary, and to provide for matters ancillary and incidental thereto, or connected therewith.