RBI liberalizes Overseas Investment Directions

On June 7, 2024, the Reserve Bank of India (RBI) released a highly anticipated circular (Circular) introducing two significant amendments to the Foreign Exchange Management (Overseas Investment) Directions, 2022 (OI Directions). These changes mark a notable shift in the regulations governing investments by resident Indians in overseas funds.   Earlier restrictions to Overseas Investment  …

RBI releases Draft Directions to enhance regulation of Payment Aggregators

The Reserve Bank of India (RBI) has released certain draft directions in relation to the regulation of payment aggregators inviting public comments: (i) New draft circular on regulation of Payment Aggregators – Physical Point of Sale (PA-P) (Draft Circular); and (ii) Proposed amendments to the existing guidelines on regulation of Payment Aggregators (PAs) (Draft Amendment).…

RBI introduces certain amendments pertaining to Overseas Listing of Eligible Indian Companies in IFSC

By way of background, the regulatory authorities in India had notified certain amendments and undertaken steps to permit direct overseas listing of Indian entities on ‘International Exchanges’ – which have been notified by the Government of India. The ‘International Exchanges’ are the permitted stock exchanges wherein overseas listing of eligible Indian companies is permitted. Currently,…

IBBI efforts towards refinement of the insolvency resolution framework

In the preceding quarter, the following efforts were undertaken by the Insolvency and Bankruptcy Board of India (IBBI) towards refining the insolvency resolution framework under the Insolvency and Bankruptcy Code (IBC):   Heading Date Particulars Remark IBBI issues circular directing uploading of judicial orders related to insolvency proceedings by Insolvency Professionals May 9, 2024 In…

DoCA releases draft Guidelines for the Prevention and Regulation of Unsolicited and Unwarranted Business Communication, 2024

The Department of Consumer Affairs, under the Ministry of Consumer Affairs, Food and Public Distribution (DoCA), issued the draft Guidelines for the Prevention and Regulation of Unsolicited and Unwarranted Business Communication, 2024 (Draft Guidelines).   The Draft Guidelines have been developed in collaboration with the Telecom Regulatory Authority of India (TRAI), and telecom service providers. It is…

MoP publishes Revised Guidelines for Electronic Vehicle Charging Infrastructure

The Ministry of Power (MoP) has issued the draft “Guidelines for Installation and Operation of Electric Vehicle Charging Infrastructure 2024” which has come into effect from July 1, 2024, superseding all previous versions released between January 2018 and April 2023. These guidelines aim to enhance the adoption of electronic vehicles (EVs) by providing safe, reliable…