The Indian securities market regulator – Securities and Exchange Board of India (SEBI), in its much awaited 206th board meeting held on June 27, 2024 (Board Meeting), has approved several key changes to various SEBI regulations (which can be viewed by clicking on this link). The specific proposals approved by SEBI vide the Board Meeting…
Introduction As corporate India pivots toward a sustainable future, the importance of Environmental, Social, and Governance (ESG) standards is escalating. Currently, in India, ESG reporting is primarily shaped by Securities and Exchange Board of India’s (SEBI) requirements for major listed companies. Existing Regime & Developments In May 2021, SEBI introduced a significant…
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 …
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).…
The Reserve Bank of India (RBI) had published the omnibus framework for recognition of Self -Regulatory Organisations (SROs) for Regulated Entities (REs) of the RBI (Omnibus Framework) in March 2024. The Omnibus Framework was issued pursuant to the announcement made by the RBI in its Statement on Developmental and Regulatory Policies dated October 06, 2023.…
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,…
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…
The Department of Telecommunications (DoT), under the Ministry of Communications, has notified that sections 1, 2, 10 to 30, 42 to 44, 46, 47, 50 to 58, 61, and 62 of the Telecommunications Act 2023 (Telecom Act) shall come into force from June 26, 2024. The provisions that will be effective from June 26,…
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…
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…