Today, RBI Governor Shaktikanta Das in his bi-monthly monetary statement said, the RTGS system will soon be made available 24×7 in the next few days. At present, real-time gross settlement (RTGS) is available for customers from 7.00 am to 6.00 pm on all working days of a week, except the second and fourth Saturdays of…
In continuation of the ongoing exercise of streamlining and structural reforms of debt funds, on Thursday (October 8, 2020) SEBI has issued a circular that seeks to tighten the norms relating to inter-scheme transfers. Inter scheme transfers (ISTs) involve shifting of debt papers from one mutual fund scheme to another scheme. As per existing rules…
The Capital market regulator SEBI has reviewed the guidelines for product labeling in mutual funds and has decided to introduce, ‘Very High Risk’ as the sixth risk profile for the MF schemes. According to SEBI notification, this new mutual fund rule shall be in force with effect from January 1, 2021, to all the existing…
Effective from October 1, 2020, a number of changes taken place in respect of rules relating to health insurance coverage, driving licence , and registration certificate of vehicles, debit card, and credit card rules, Foreign fund transfer, FSSAI orders on foods, Ujwala connections, and Tax collection policy, etc. Here’s a brief look at the new…
The Bilateral Netting of Qualified Financial Contracts Bill, 2020 (Netting Bill) was passed this week in both the houses of the Parliament. The Bill covers over the counter derivatives contracts which are entered into on bilateral basis outside clearing system. The Finance Minister Mrs.Nirmala Sitharaman while addressing the Rajya Sabha said that under existing laws,…
The Central board of direct tax (CBDT) in its press release said that “It may be noted that The Finance Act 2020 rationalised the procedure relating to approval/registration/notification of certain entities referred to the section 10(23C), 12AA, 35 and 80G of the act, with effect from 1st June 2020. As per the new procedure, the…
The Minimum Support Price or MSP is the rate at which the government buys grains from farmers. The aim of fixing MSP is to counter price volatility of agricultural commodities due to the factors like variation in their supply, lack of market integration and information asymmetry. It is fixed on the recommendations of the Commission…
The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020; The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 and The Essential Commodities (Amendment) Bill, 2020 – were introduced in the Parliament on September 14 to replace the ordinances issued during the lockdown. Lok Sabha has passed these bills…
Today (Tuesday), in a circular SEBI said, “National Stock Exchange of India Limited shall undertake Aadhaar authentication service of the UIDAI subject to compliance of the conditions as laid down in this regard”. In May 2020, the market regulator allowed eight entities viz. Central Depository Services (India) Ltd (CDSL), National Securities Depository Ltd (NSDL), BSE,…
The Reserve Bank of India (RBI) today (on Thursday) came out with a ‘5-Core Actions’ approach for promoting financial education, which among other things include development of relevant content for school children and adults, community participation and collaboration among various stakeholders. According to NSFE, the country has been one of the important developmental agendas of…