RBI imposes penalty amounting to Rs. 1 Crore on HDFC Bank Limited for non-compliance with directions
The penalty imposed was based on deficiencies in statutory and regulatory compliance on behalf of HDFC bank.
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Notifications issued by various government departments, government bodies etc.
RBI imposes penalty amounting to Rs. 1.91 crores on Axis bank Limited for failure to comply with Banking Regulation Act, 1949 and RBI Directions
Axis bank contravened S. 19(1)(a) of the Banking Regulation Act as one of its wholly owned subsidiaries was engaged in an impermissible business as per S. 6 of the Act.
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SEBI introduces Chapter on ‘Restriction in Dealing with Unregulated/Other Entities’ in Regulations for Securities Contracts, Depositories and Participants, and Intermediaries
The provision made vide 2024 Amendment Regulations would not apply to associations through a specified digital platform.
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Uttar Pradesh Digital Media Policy, 2024
Policies, Schemes and achievements will be publicized on social media by digital influencers.
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SEBI bans Reliance Home Finance Limited and 23 other entities for 5 years; imposes penalty of Rs. 25 crores on each entity
SEBI penalizes Anil Ambani for siphoning of funds from public listed companies, RHFL
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Directorate of Family Welfare notifies constitution of Medical Boards in the NCT of Delhi
The Medical Boards will be constituted in addition to the existing PMBs in different hospitals.
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SEBI issues Master Circular for Stockbrokers to increase accessibility by consolidating all relevant circulars
To enable the users to have access to the provisions of all applicable circulars in one place, SEBI has previously issued a Master Circular dated 22-05-2024 for Stockbrokers.
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Intellectual Property laws decriminalized and amended vide Jan Vishwas (Amendment of Provisions) Act, 2023 w.e.f. 01-08-2024
The amendments mentioned in the Schedule to the Jan Vishwas (Amendment of Provisions) Act, 2023 have either decriminalized, omitted, or revised the penalties for certain offences in Intellectual Property laws.
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Government notifies Constitution of GSTAT Principal Bench and State Benches
Government establishes Goods and Services Tax Appellate Tribunal.
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RBI imposes penalty of Rs. 1.9 Lakh on Muthoot Finance Ltd. for non-compliance with KYC Directions, 2016
Muthoot Finance had been allotting more than one UCIC to its individual customers in contradiction to the 2016 KYC Directions issued by the RBI.
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RBI revises Master Directions on Fraud Risk Management in Regulated Entities; rescinds 36 Circulars
The 2024 Master Directions are principle-based and have been issued to strengthen the role of the Board in overall governance as well as oversight of fraud risk management in Regulated Entities.
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SEBI lays down ‘Framework for Unit Based Employee Benefit Scheme’ vide SEBI (REIT) (Second Amendment) Regulations, 2024
As per the Regulations, the manager may offer unit-based employee benefit scheme based on the units of Real Estate Investment Trusts subject to compliance with Chapter IVA.
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SEBI widens scope of ‘liquid asset’ for ESG Rating Providers vide SEBI (Credit Rating Agencies) (Amendment) Regulations, 2024
Previously, ‘liquid asset’ included low-risk assets such as cash, fixed deposits, government securities, treasury bills, and repo on government securities.
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SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2024
The 2024 Regulations amend the obligations of the issuers to include fixing a record date for payment of interests, dividends, etc.
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SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2024
The 2024 Regulations have been notified to modify Regulation 52 of the 2015 Listing Obligations and Disclosure Requirements issued by SEBI.
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SEBI issues Master Circular to consolidate all relevant circulars for Surveillance of Securities Market; rescinds 15 circulars
A Master Circular in the form of a compilation of provisions of all relevant circulars for surveillance of securities market was last issued on 23-03-2023.
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RBI imposes penalty of Rs. 1.31 Crore on Punjab National Bank for non-compliance of directions on ‘Loans and Advances’ and ‘KYC’
The Reserve Bank of India imposed monetary penalty on Punjab National Bank due to deficiencies in regulatory compliance.
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SEBI issues Master Circular for Mutual Funds rescinding 16 circulars
This Master Circular for Mutual Funds includes all previous guidelines/directions that were included in the Master Circular dated 19-05-2023.
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Certain provisions of Telecommunications Act, 2023, notified
The Telecommunications Act, 2023 aims to replace the 138-year-old Indian Telegraph Act, 1885.
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53rd GST Council Meeting | Aadhaar-Based Biometric Authentication to roll out; Railways and Hostels remains exempted from GST
Read all the recommendations and updates on the 53rd GST Council Meeting held on 22-06-2024, under the Chairmanship of Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs.
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