RBI Regulatory measures towards consumer credit and bank credit to NBFCs
The commercial banks and NBFCs shall review their extant sectoral exposure limits for consumer credit and put in place, if not already there, Board approved limits in respect of various sub-segments under consumer credit as may be considered necessary by the Boards as part of prudent risk management. In particular, limits shall be prescribed for all unsecured consumer credit exposures. The limits so fixed shall be strictly adhered to and monitored on an ongoing basis by the Risk Management Committee. All top-up loans extended by REs against movable assets which are inherently depreciating in nature, such as vehicles, shall be treated as unsecured loans for credit appraisal, prudential limits and exposure purposes.
Guidelines for support in the mining and mineral sector
The Ministry of Mines has issued GUIDELINES FOR SUPPORT TO MINING RESEARCH to plan, support and coordinate mining, mineral and metal based research in public interest for enhancing the understanding of the mines and geology, and devising strategies and solutions for conservation and mining protection and management.
Draft IRDAI (Expenses of Management, including commission, of insurers) Regulations, 2023
The main objective of the proposed draft regulations is to enable and provide flexibility to the insurers to manage their expenses, including commissions, within the overall limits as specified by the Authority to optimally utilize their resources for enhancing benefits to policyholders and to improve insurance penetration.
IFSCA FAQ on Registration of a Fund Management Entity (FME) and Authorization of a Scheme or Fund under IFSCA (Fund Management) Regulations, 2022
The financial documents required for the FME application include the previous three years’ consolidated/standalone audited financial statements. For newly incorporated entities, Income Tax Returns (ITRs) and acknowledgments can be submitted. The Net Worth Certificate, a crucial component, must not be older than six months and should meet the requirements specified by IFSCA.
IFSCA Framework for Aircraft Lease
IFSCA framework for entities to get registered under Finance Company Regulations as a ‘Finance Company’ or a ‘Finance Unit’ for undertaking aircraft lease transactions.
SEBI organizes India International Trade Fair (14-27 November 2023)
During the exhibition at ITPO, SEBI, MIIs and Industry Associations will be organising activities such as talk shows by market experts, skits, muppet shows and other live activities to spread investor education and awareness.
Revisions in Ratio of MBBS Seats Deferred for Another Year
The Ministry of Health and Family Welfare (MOHFW) is re-examining the ratio of 100 MBBS seats for 10 lakh population in that state/ U.T. Hence, NMC has decided that this ratio shall be deferred until the academic year 2025-26.
Schedule For Special Stray Vacancy Round For PG MDS Seats 2023
The extended last date for admission to postgraduate courses is set for November 30, 2023. Moreover, the schedule for the opening of the portal for uploading joined candidates is extended until December 15, 2023.
National Pharmacy Commission Bill 2023 Proposes Big Changes
The National Pharmacy Commission Bill 2023 seeks to achieve national health goals and promote a robust pharmacy education system. It contemplates a system that aligns with the changing needs of the healthcare landscape.
India Discusses Trade in Food Products in Bilateral Meeting with Greece
Both sides acknowledged the strategic importance of each other to foster food security. India as one of the largest producer of Agri Food and Brazil as one the largest exporter of food can work towards ensuring food security for the world. Brazilian side highlighted that the bi-lateral trade between the two countries has expanded by 32% to US$15.2 billion in 2022.
The two sides discussed synergies and exploring possibilities in further collaboration and co-ordination in the food processing sector particularly in terms of exchange of goods and human resource. Both sides agreed to continue to work in partnership with each other to facilitate even greater exchange of goods and ideas.
