Ministry of Commerce and Industry revises SIPP Scheme
The revised scheme has increased the facilitation fees by at least 100%. This revised scheme is applicable from 2nd November 2022. In addition to this revision, start-ups are provided an 80% fee rebate in filing patent applications and a 50% fee rebate in filing trademark applications under respective IP legislations. In addition, there are also provisions for fast-track examination of patent applications.
NSE Issues Advisory and Member Guide on Market Data Broadcasts
NSE recommends that its members build resilience and redundancy in their subscription to market data broadcast provided by the National Stock Exchange of India Limited (NSEIL), to ensure continuity of their business operations. NSEIL has made enabling provisions for members to implement redundancies by providing two sources of data broadcast parameters. Members can configure both sources in active and passive manner as per their business requirement.
CCIL issues consultation paper: ‘ Transitioning Outstanding MIFOR Swaps Post Index Cessation – Proposed Cash Computation Methodology and Operational Aspects of Transition’
The consultation paper details CCIL’s proposed conversion process, feedback to CCIL’s consultation paper, proposed cash compensation methodology, operational aspects of transition, etc. Members are requested to send their comments and feedback on the proposal, specifically to the Consultation Questions in Section 8 of this paper. The feedback may be sent by email to the Chief Risk Officer, CCIL, latest by 15th December, 2022, at rmd@ccilindia.co.in
NPCI Clarifies on the Implementation of Its Guidelines on volume cap for TPAPs in UPI
The present Circular extends the timeline for compliance by existing TPAPs who exceed the volume cap. The extension is for a period of two years, i.e. up to 31st December 2024. Thereafter the TPAPs will have to comply with the volume cap.
DoT Issues Clarifications on Removal of Export Requirements and Extension in Timelines for IMEIs of Locally Manufactured Phones
The Department of Telecommunication (DoT) has examined the requests of various industry associations and has conceded that the requirement of registration of IMEIs of mobile phones being manufactured in India for export is kept in abeyance till further orders. However it has stated that rule 4 (1) of the Prevention of Tampering of the Mobile Device Equipment Identification Number (Amendment) Rules, 2022 shall come into force with effect from January 1, 2023.
NSE directions regarding Submission of VAPT report
The detailed VAPT report along with summary of report needs to be uploaded as single document. The VAPT report shall be digitally signed by CERT-In empaneled entity as appointed by the Member for conducting the VAPT.
RBI clarification regarding Redemption Price for premature redemption under Sovereign Gold Bond (SGB) Scheme
Premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the first due date of premature redemption of the above tranche shall be December 03, 2022 (December 04, 2022 being a Sunday).
Central Motor Vehicles (Twenty-second Amendment) Rules, 2022
The amendment provides that every armored vehicle shall comply with the standards in these rules, subject to the exemptions specified in AIS-194:2022, as amended from time to time.
Guidelines on settlement of Life Insurance Claims to the victims of Flood in Maharashtra
The Progress report on the claims settled shall be submitted to and hemant.mourya@irdai.gov.in and life@irda.gov.in on a weekly basis every Monday before 12.00 PM (first such report to be received on 9th August 2021) for data up to last working day of the previous week.
