REGULATIONS


Moneylife Digital Team 28 December 2023
Holding a chartered account (CA), Shyam Malpani, who worked as an engagement partner (EP), responsible for professional misconduct and conflict of interest while conducting the statutory audit of S Kumars Nationwide Ltd (SKNL) for FY13-14, the national financial reporting authority (NFRA)...

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IANS 28 December 2023
The Directorate General of Civil Aviation (DGCA) has issued an order aimed at enhancing the integrity of investigation reports submitted for medical examination of licence holders.   The order released on December 22, effective immediately, stated that any investigation report lacking...

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IANS 27 December 2023
The Centre on Wednesday said that it has directed social media subsidiaries and online platforms to actively prohibit and remove illegal loan and betting apps under the existing IT Rules.   On Tuesday, the Ministry of Electronics and Information Technology (MeitY) issued an advisory...

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IANS 27 December 2023
The Reserve Bank of India (RBI) has come out with a set of new draft norms aimed to simplify and rationalise the authorisation of money changers for facilitating foreign exchange-related services.   The review of the extant licensing framework aims to meet the emerging requirements of...

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Moneylife Digital Team 22 December 2023
Coming down heavily on National Securities Depositaries Ltd (NSDL) and the Securities and Exchange Board of India (SEBI) for transferring, without any authority of law, fungible shares pledged by Karvy Stock Broking Ltd with four banks and one non-banking finance company (NBFC), the...

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Moneylife Digital Team 22 December 2023
While upholding an order passed by the member and core settlement guarantee fund committee (Committee) of NSE Clearing Ltd (NCL), the securities appellate tribunal (SAT) directed Edelweiss Custodial Services Ltd (now known as Nuvama Clearing Services Ltd) to reinstate shares belonging to...

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Updated at 7pm on 18 December 2023 to include clarification submitted by JSW Steel to exchanges JSW Steel Ltd is the 34th most valuable company listed on our bourses. The chairman and managing director (CMD) of the company is the subject of a first information report (FIR) lodged at the...

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IANS 22 December 2023
The Rajya Sabha on Thursday passed the Telecommunications Bill 2023 through a voice vote, just a day after it was passed in the Lok Sabha.    According to TechCrunch, the new bill allows spectrum allocation for satellite-based services without the need to participate in auctions -- a...

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IANS 22 December 2023
Government-owned Life Insurance Corporation of India (LIC) said on Thursday that the Finance Ministry has granted it a one-time exemption from the minimum 25 per cent public shareholding rule.   The rule states that an entity with a market cap of more than Rs 1 lakh crore must have a...

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From Basel Committee to RBI   The Basel committee on the banking supervision document (April 2005) focused on, among others, the compliance system in banks as a defence against certain risks. It defined compliance risk as "the risk of legal or regulatory sanctions, material financial...

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In recent years, the Reserve Bank of India (RBI) has been in the news for slapping monetary penalties on regulated financial entities (REs) like banks, non-bank finance companies (NBFCs) and cooperative banks for various violations and non-compliance with guidelines issued by the...

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IANS 21 December 2023
The RBI has issued a circular to all banks for introducing the Card-on-File (CoF) token facility at the level of banks and other institutions to provide convenience for cardholders to get tokens created and linked to their existing accounts with various e-commerce...

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Moneylife Digital Team 21 December 2023
Google has suspended or removed over 2,500 fraudulent loan apps from its Play Store between April 2021 and July 2022 as the Indian government and Reserve Bank of India (RBI) are keeping a close watch to maintain cyber security, Union finance minister (FM)Nirmala Sitharman informed the...

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Moneylife Digital Team 20 December 2023
Margins applicable in the derivatives segment are uniform across clearing corporations as per the framework of the Securities and Exchange Board of India (SEBI) and there are no additional margins proposed from 1 January 2024, BSE says.   Clarifying on media reports, BSE says, "The...

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IANS 20 December 2023
Digital payment startups Razorpay and Cashfree on Tuesday announced that they received final authorisation from the Reserve Bank of India (RBI) to operate as payments aggregators (PA).   "Razorpay has now received the final authorisation from the Reserve Bank of India @RBI to operate...

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Moneylife Digital Team 19 December 2023
Expressing concerns over the evergreening of loans by regulated entities (RE) like banks and non-banking finance companies (NBFCs) through alternative investment funds (AIFs), the Reserve Bank of India (RBI) directed them to reduce their loan exposure by selling loans of borrowers who have...

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IANS 19 December 2023
The Telecommunications Bill 2023 has excluded over the top (OTT) services in its definition of telecom services which comes as a sigh of relief for such players.   The new version of the Bill excludes OTT services, such as online messaging players like WhatsApp, video-streaming...

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Moneylife Digital Team 19 December 2023
Reserve Bank of India (RBI) has imposed monetary penalties on five cooperative banks for violating various rules and regulations prescribed by RBI. Of these, three banks are from Maharashtra, while others belong to West Bengal and Gujarat. RBI levied a penalty of Rs3 lakh, the highest among...

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IANS 19 December 2023
Google has agreed to pay $700 million to the US consumers and states in a settlement over Play Store reached in September.   The company will pay $630 million to consumers and $70 to a fund used by states.   "Google will pay $630 million into a settlement fund to be...

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Moneylife Digital Team 18 December 2023
Reserve Bank of India (RBI) has imposed a penalty of Rs14.04 crore on as many as 176 cooperative banks during fiscal year (FY)22-23, while seven banks from the private sector paid a fine of Rs12.17 crore for non-compliance with the guidelines, rules and regulations issued by RBI, the Lok...

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