SEBI issues Circular on Maintenance of websites by Stock Brokers & Depository Participants
The Securities and Exchange Board of India (SEBI) has issued a Circular on maintenance of websites by stock brokers and depository participants. A designated website brings in transparency and helps the investors to keep themselves well informed about the various activities of the SB/DP. Hence, the stock exchanges and depositories are directed to comply with specified instructions.
Cabinet approves Strengthening Cooperative Movement
The Ministry of Cooperation has formulated a plan to establish viable Primary Agricultural Credit Societies (PACS) in each uncovered Panchayat, viable dairy cooperatives in each uncovered Panchayat/village and viable fishery cooperatives in each coastal Panchayat/village as well as Panchayat/village having large water bodies. It will also strengthen the existing PACS/dairy/fishery cooperatives through convergence of various schemes of Ministry of Fisheries, Animal Husbandry & Dairying.
Measures for Adoption of Indian Standard on ‘Online Consumer Reviews — Principles and Requirements for their Collection, Moderation and Publication’ by Startups & MSME’s
The scheme- Conformity Assessment Scheme on IS 19000:2022, was formulated with the objective of certifying the processes related to the collection, moderation and publication of online customer reviews. This was intended to restrict the publication of fake or misleading reviews.
TRAI directs Access Providers to stop misuse of Headers and Message Templates, and curb unauthorized promotions
The Telecom Regulatory Authority of India (TRAI) has issued directions to Access Providers to stop misuse of Headers and Message Templates. It also seeks to curb unauthorized promotions using Telecom Resources. Ministry of Communications has issued a press release on both these directions. This release was issued on 15th February, 2023.
SEBI issues Master Circular on Takeover Regulations
The Securities and Exchange Board of India (SEBI) has issued a Master Circular for Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations). This Circular was issued on 16th February 2023. Master Circular for Takeover Regulations will enable stakeholders to have access to the provisions of the applicable circulars at one place.
ESI Act shall be applicable to establishments irrespective of the number of employees
The apex court Judgement dated 20.1.2023 has ordered that on and after 20.10.1989, irrespective of the number of employees working in a factory or establishment, it shall be governed by the ESI ACT.
RBI Introduces Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems
Member banks are advised to incorporate necessary changes in their core banking / middleware solutions to capture the requisite details while forwarding the foreign donations through NEFT and RTGS systems to SBI
RBI Working Paper on Competitiveness and Determinants of Agricultural Exports
India needs to expand its trading partners by shaping alliances through bilateral and free trade agreements. There is a need to increase the value addition and product differentiation through promotion of processed and organic commodity exports. In addition to forming agri-clusters through the scheme ‘One District One Product’, there is also a need to develop organic or pesticide-free clusters through farmer producer organizations to boost the export of organic products to high-income countries.
