CAalley Newsletter dated February 8, 2023
Latest additions to CAalley:
News:
Exposure Drafts:
Legal Updates:
News Update:
No more penal interest: How RBI decision will help home, personal, car and other loan borrowers
FinMin issues draft scheme for settling disputes related to govt contracts
Digital currency has 50,000 users, 5,000 merchants: RBI
RBI to issue norms to boost green finance, mitigate climate risks
RBI announces pilot for QR code-based Coin Vending Machine
RBI proposes to expand scope of TReDS to improve cash flows for MSMEs
RBI to allow lending, borrowing of govt bonds: Shaktikanta Das
Travellers to India from G20 nations can use UPI for merchant payments: RBI
RBI MPC increases repo rate by 25 bps, pegs FY24 inflation at 5.3%
Key highlights of RBI policy statement
SEBI burdens stock brokers with more compliance
Will get fitment panel to look into 28% GST for cement: FM Sitharaman
Artificial Intelligence to be a game changer in govt audit space: CAG
Leave encashment received at retirement will be tax-free under new I-T regime: Revenue Secretary
FinMin asks depts, CPSEs to refund 95% of MSMEs securities till March 2022
Foreign tourists not exempt from GST
Govt to come out with discussion paper on contractual disputes: Somanathan
16-member panel set up to draft Digital Competition Act within 3 months
CAG call to combat cyber security threats to auditing
SEBI gets strict on beneficial owners hiding behind FPIs
Govt streamlines rules for settlement of disputes among CPSEs
PPO number: How to download PPO (Pension Payment Order) number from Digilocker
No provision to refund accumulated corpus under NPS to state govt: FinMin
The IIA Opposes New PCAOB Standard Proposal's Anti-Internal Auditor Language in Comment Letter
Proposed crypto accounting rules won’t cover self issued tokens
GASB Proposes New Guidance for Subscription-Based IT Services
Exposure Drafts:
Guidance Note on Financial Statements of Limited Liability Partnerships
[Last date for Comments: March 8, 2023]
Guidance Note on Financial Statements of Non-Corporate Entities
[Last date for Comments: March 8, 2023]
Consultation paper on review of Corporate Governance norms for a High Value Debt Listed Entity
[Last date for Comments: February 22, 2023]
Consultation paper on institutional mechanism for Stock Brokers to ensure prevention and detection of fraud or market abuse
[Last date for Comments: February 21, 2023]
Consultation paper on Investor consent for buying/selling investments from/to associates of AIFs
[Last date for Comments: February 18, 2023]
Consultation paper on review of eligibility criteria for the key investment team and prescribing qualification for compliance officer of Manager of an Alternative Investment Fund
[Last date for Comments: February 18, 2023]
Consultation paper on dematerialisation of units of AIFs
[Last date for Comments: February 18, 2023]
Consultation paper on safeguarding clients’ funds placed with stock brokers/ Clearing Members (CMs): Upstreaming of clients’ funds to Clearing Corporations (CCs)
[Last date for Comments: February 17, 2023]
Consultation paper on direct plan for schemes of Alternative Investment Funds (AIFs) and trail model for distribution commission in AIFs
[Last date for Comments: February 18, 2023]
Legal Updates:
The Centralised Processing of Equalisation Levy Statement Scheme, 2023 [No.3]
Liquidity Adjustment Facility - Change in rates
Standing Liquidity Facility for Primary Dealers
Instruction regarding Import of High risk food products at specific ports [Instruction No.5]