Administration and supervision of research analysts and investment advisers routed through recognised stock exchanges for enlistment and oversight.
Recognised stock exchanges will be designated as RAASB and IAASB to administer and supervise Research Analysts and Investment Advisers, subject to eligibility criteria and infrastructure requirements. Enlistment with RAASB/IAASB is mandatory for registration applicants; existing registered RAs/IAs are deemed enlisted or processed as specified. SEBI retains core functions of registration and enforcement while RAASB/IAASB will handle initial scrutiny, database maintenance, approvals, monitoring, grievance redressal, and periodic reporting to SEBI.

Portfolio managers must simplify digital onboarding, provide a fee calculator, show enhanced fee disclosures and deliver MITC document.
SEBI requires portfolio managers to simplify digital on boarding-allowing typed/electronically written fee acknowledgements for digital clients and handwritten for physical clients-and mandates a standard digital on boarding procedure. Managers must provide a fee calculation tool incorporating the high watermark, include illustrative one and multi year fee scenarios in the fees annexure where performance fees apply, add a fee calculation annexure to periodic reports, and deliver a Most Important Terms and Conditions (MITC) document to clients. No fees beyond the annexure are permitted; key formats will be issued by the industry association.

Portfolio Management Services distributors must obtain APMI registration and comply with APMI criteria to enable collective industry oversight.
SEBI mandates that all persons or entities distributing Portfolio Management Services obtain registration with the Association of Portfolio Managers in India (APMI), requiring portfolio managers to ensure their distributors are registered in accordance with criteria to be issued by APMI by July 1, 2024; the registration mandate takes effect on January 1, 2025, to enable collective industry-level oversight and ensure compliance with the applicable Code of Conduct under Regulation 23(11).

Export inspection requirement for silk waste: clearance only with Central Silk Board inspection or test report and certification.
Export clearance for silk waste under ITC (HS) code 5003 requires inspection or test certification from designated Central Silk Board officers or Textile Testing Laboratories; exporters bear testing charges. All consignments will undergo full consignment examination in the presence of the CSB authorized officer, who will certify items at the CFS and transmit the report to Customs. LEO will be issued only on receipt of the CSB inspection/test report directly to the Docks Administration until CSB is integrated for electronic report sharing.

Transshipment bond requirement relaxed for domestic sea movements; ICES changes ease SAM and SDM filing processes.
The SCMTR module now permits PDF upload of crew effects and ship stores via e sanchit, accepts MCIN-based SAM filings without Transport_Msr duplicates, allows passport numbers for foreign consignees, makes consignee code and vessel expected departure optional for SDM/SAM, fixes port repetition rejections, updates the Message Implementation Guide, and modifies bond logic so the SEZ unit's bond can substitute for carrier bond and domestic sea transshipment no longer requires a bond.

G-Card annual review and exam scheduling to ensure trained customs broker personnel availability for swift clearance operations.
Regulation 13 requires employed persons of customs brokers to pass the G Card examination to obtain a Form G or Form H identity card. Principal Chief Commissioners/Chief Commissioners must carry out an annual review of G Card holder requirements at each customs station in CCFC meetings with stakeholders and discuss outcomes in CCG meetings to plan and schedule G Card examinations and ensure availability of trained personnel for swift EXIM clearance; implementation issues should be reported to the Board.

Verification of Certificate of Origin now requires QR code and password for authenticity; customs must implement CEPA OCPs.
The UAE's Certificate of Origin now includes a QR code, a password for verification and a unique sequential serial number while retaining the prior format. These features facilitate authenticity checks and align with the Operational Certificate Procedures under the India-UAE CEPA. All Customs formations are directed to note and implement the UAE verification procedure alongside the OCPs when verifying COOs for preferential treatment.

Acceptance of Electronic Certificate of Origin under India Korea CEPA permitted when issued in prescribed e CoO format with e Sanchit upload.
Electronic Certificates of Origin issued by Korea are acceptable under India Korea CEPA if issued in the prescribed e CoO format with required particulars including a QR code and compliance with notification No. 187/2009 Customs (N.T.) and amendments; they carry the same legitimacy as manual originals. Importers must upload the e CoO to e Sanchit and enter e CoO particulars in the bill of entry. ICES will verify e CoO data against exporting country Customs, prevent multiple use, and auto debit certificate quantities, removing the need for physical defacement.

Dedicated fund manager optional for commodity and overseas mutual fund schemes, subject to expertise and board oversight.
Appointment of a dedicated fund manager for commodity-based mutual funds and for schemes making specified overseas investments is optional; appointed fund managers must have adequate expertise and experience to manage commodities or overseas securities respectively, and the AMC Board is responsible for ensuring compliance and periodic reporting to trustees.

Nomination requirement for jointly held mutual fund folios made optional under the revised compliance framework.
The nomination requirement for mutual fund unit holders is made optional for jointly held mutual fund folios. The circular departs from the earlier requirement that existing individual unit holders, whether holding units solely or jointly, had to either submit nomination details or opt out of nomination by the prescribed deadline, failing which the folios could be frozen for debits. All other nomination-related requirements remain unchanged.

Air-cargo transshipment permission renews carrier responsibility for cargo shortages, bonded movement, customs compliance and delivery at notified domestic airports.
Import and export air-cargo transshipment permission is renewed for SpiceJet Limited to carry cargo handled by AAICLAS from the Air Cargo Complex, Kolkata, to other customs-notified Indian airports on its domestic flights. The carrier must maintain transshipment bonds and bank guarantees, remains liable for cargo shortages or pilferage, and must meet the resulting duty, levy, value, interest, penalty and cess obligations as applicable. The permission is subject to the customs transit framework, cargo-handling regulations, relevant circulars, local procedures and the Foreign Trade Policy, and may be renewed or withdrawn based on compliance.

Relaxation in intimation requirement allows direct filing of specified PPM changes with SEBI and exempts LVFs with CEO undertaking.
SEBI permits specified changes to AIF Private Placement Memoranda to be filed directly with SEBI rather than through a merchant banker, enumerating eligible PPM sections and routine updates in Annexure A. Large Value Funds for Accredited Investors are exempted from the merchant banker requirement but must file changes with a CEO and Compliance Officer undertaking in the Annexure B format, confirming due diligence, regulatory compliance, and adequacy of disclosures.

Import quantity correction: Filter Aid entry in SION E-124 amended, updating the previously stated import quantity for the export item.
Corrigendum corrects the import quantity for Filter Aid at S. No. 6 linked to SION E-124 (Refined Sunflower Oil, Edible Grade) in Public Notice No.01/2024 dated 9 April 2024, invoking powers under Paragraph 1.03 of the Foreign Trade Policy, 2023, and replacing the previously published import quantity with the corrected figure.

Encumbrance on equity enabling investee debt: allows certain AIFs to encumber equity to facilitate infrastructure project borrowing.
Category I and Category II AIFs may encumber equity holdings in investee companies only to facilitate borrowing by those investee companies for development, operation or management of infrastructure projects listed in the Harmonised Master List. Permission is conditional on explicit PPM disclosure for new schemes, continuity rules tied to prior disclosure and investor consent, restrictions that borrowings be used solely for the stated infrastructure purposes, encumbrance duration not exceeding scheme residual tenure, prohibition on encumbering foreign investees, exclusion of guarantees, compliance with foreign investment norms where applicable, and adherence to implementation and compliance reporting standards.

Dissolution period flexibility for alternative investment funds allows in specie distribution or extended liquidation subject to investor consent.
AIFs may enter a defined dissolution period or distribute unliquidated investments in specie subject to at least seventy five percent investor consent by value and specified procedures. Before consent, the manager must arrange bids aggregating at least twenty five percent of the consolidated value of unliquidated investments and disclose tenure, investment details and indicative bid ranges with valuations by two independent valuers. If the minimum bid threshold is met, dissenting investors may exit from the bid; if not met the AIF may still seek 75% investor consent to enter dissolution. Valuation for benchmarking is the bid value if the threshold is met or one rupee if not, manager performance is reported separately, and remaining unsold assets are mandatorily distributed in specie at dissolution end.

Bill of Entry amendment procedure: online filing with e Sanchit evidence; approvals may be automated or officer based.
Amendments to Bills of Entry must be filed online via the Common Portal or Service Centre with supporting documents uploaded in e Sanchit. Amendments are either auto approved-limited to additions like Bill of Lading details processed automatically under Section 149-or require officer approval for deletions, modifications, or other changes; processing routes depend on whether the amendment is before assessment, after assessment but before Out of Charge, or after Out of Charge, and whether the amendment affects assessment.

Section 65 Audit Powers Enable Designated Tax Officers to Act Within Assigned Zonal Jurisdictions for the Relevant Financial Year.
Section 65 audit powers under the Bihar Goods and Services Tax Act, 2017 are conferred on specified Deputy Commissioners of State Tax and Assistant Commissioners of State Tax under Section 65(1) read with Section 4(2). The authorisation applies only within each officer's assigned zonal jurisdiction and is limited to audits concerning the financial year 2020-21, creating a defined territorial and temporal allocation of audit authority.

FPI debt investment limits maintained, sub-category allocations fixed and CDS sales capped relative to corporate bond stock.
FPI holdings in debt for 2024-25 retain ceilings of 6% for government securities, 2% for state government securities and 15% for corporate bonds, with investments in specified securities reckoned under the Fully Accessible Route. G sec incremental allocations remain 50:50 between General and Long term; SGS increases are added to the General sub category. Revised absolute ceilings are set for the two half year periods of 2024-25. The aggregate notional amount of Credit Default Swaps sold by FPIs is capped at 5% of outstanding corporate bond stock, with an additional notional limit specified for 2024-25.

Drawback non-applicability for EOU/SEZ sourced goods requires exporters' self-declaration uploaded on e Sanchit to avoid queries.
Notification states that drawback rates do not apply to exports manufactured or exported by hundred per cent Export Oriented Units or by units in Free Trade Zones, Export Processing Zones, or Special Economic Zones, and instructs exporters to upload a signed self-declaration (Self-Declaration on Customs Cases, Code 022CO1) on e-Sanchit with shipping bills certifying non-manufacture/non-export by such excluded units to reduce queries and physical visits.

Extension of filing deadline for registration forms safeguards electronic submissions and validates pending nonprofit applications.
The Board, under section 119, extends the due date for filing Form No. 10A and Form No. 10AB electronically to 30.06.2024. Pending applications in Form No. 10AB filed before this Circular where no order has been passed may be treated as valid. Applicants whose Form No. 10AB was rejected solely for late filing or wrong section code may file a fresh application within the extended period. Trusts that received provisional Form No. 10AC after failing to file Form No. 10A may surrender that provisional registration and apply as existing trusts in Form No. 10A within the extended time.