Weekly Newsletter - May 8, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
Acts & Regulations:
Legal Updates:
News Update:
RBI lifts restrictions on Bank of Baroda's 'Bob World' mobile app, allows onboarding customers
NPCI issues guidelines for merchant acquisition on BHIM Aadhar Pay
Sebi extends settlement scheme period till Jun 10 in stock option cases
RBI asks NBFCs to stick to loan cash payout cap of Rs 20,000: Report
NPCI likely to extend UPI market cap deadline for payment platforms
NSE to run special trading session on May 18 with disaster recovery switch
ITAT: Redemption of unlisted NCDs will not result in cap gains, but interest income
'Permanent deletion of transactions can anonymise e-rupee like cash'
Sebi rejects NSE proposal to extend trading hours as brokers protest
HC relief for holding companies facing GST notices over corporate guarantees
RBI to make digital currency available offline, says Governor Das
Centre may push for 12% GST for health insurance; lower rate seen to widen cover
Big 4's dominance: Local companies call for level playing field
FPSB India, IFSCA sign pact to promote GIFT IFSC as 'global finance hub'
Data sharing among authorities, taxpayers can help improve I-T dept AIS functionality: Deloitte
Financial Intelligence Unit arms itself with AI to check money laundering
Five GST officials arrested in refund fraud cases
Sebi eases e-onboarding for portfolio managers
ICAI defends action against EY affiliates, says move in sync with its statutory power
CBI arrests income tax officer for accepting Rs 4 lakh bribe
RBI proposes tighter rules for under-construction infra project financing
RBI revises banks' capital market exposure norms for T+1 settlement
MSMEs protest 45-day payment rule, file appeal in apex court: Report
RBI allows standalone primary dealers to borrow in foreign currency
Supreme Court asks Centre to furnish data on notices, arrests done under GST Act
Adani Group faces Sebi scrutiny; show-cause notices issued to 6 firms
Regulatory tightening creates demand for senior roles in forensic functions
Manpasand Beverages scam: How Sebi exposed the Rs 40-crore GST fraud
Foreign funds can issue P notes to investors: What is it, why this matters
Sebi makes mandatory registration of PMS distributor with APMI
CFA bats for enhanced climate accountability measures in RBI's draft norms
Rs 10,000 cr transactions, bogus firms: How police busted multi-cr GST scam
Small finance banks to seek RBI clarification on loan book diversification
FRC fines PwC, EY for London Capital & Finance audit failings
PCAOB sanctions auditors over audit evidence
UK: Deloitte further strengthens governance
Why don’t auditors find fraud?
CFOs must lead on establishing trust in AI for financial reporting
IFRS and EFRAG release interoperability guidance for companies
US: IRS aims to more than double its audit rate for wealthiest taxpayers in strategic plan update
Exposure Drafts:
Consultation Paper on proposed IFSCA (Listing) Regulations, 2024
[Last date for Comments: May 25, 2024]
Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation
[Last date for Comments: June 15, 2024]
Acts & Regulations:
Master Circular for Registrars to an Issue and Share Transfer Agents
SEBI (Alternative Investment Funds) Regulations, 2012 [Last amended on April 25, 2024]
Guidance Note on Operational Risk Management and Operational Resilience
Legal Updates:
Import of UAEGD Gold through IIBX by valid India-UAE TRQ holders
Facilitating investments by NRIs and OCIs into Indian securities through Schemes / Funds in an IFSC
Issuance of Derivative Instruments against Indian securities by non-bank entities in GIFT-IFSC
Periodic reporting format for Investment Advisers
SEBI (Employees' Service) (Second Amendment) Regulations, 2024
Framework for administration and supervision of Research Analysts and Investment Advisers
Margin for Derivative Contracts
Master Direction – Risk Management and Inter-Bank Dealings: Amendments
Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs)
Export of food commodities through National Cooperative Exports Limited (NCEL) [Notification No.11]
Amendment in the Export Policy of Onions [Notification No.10]
Suspension of inoperative SIONs [Public Notice No.3]
Amendments to the All Industry Rates of Duty Drawback effective from 03.05.2024 [Circular No.4]
Exchange Rate Notification No. 34/2024-Cus (NT) dated 02.05.2024 [Notification No.34(NT)]