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    December 14, 2020
    IFSCA notifies International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020
    December 9, 2020
    Cabinet approves the proposal of Securities & Exchange Board of India (SEBI) tosign Bilateral Memorandum of Understanding between India and Luxembourg
    December 1, 2020
    Finance Minister delivers keynote address at the inauguration of the Sri Lanka Economic Summit 2020
    November 27, 2020
    Finance Minister Smt. Nirmala Sitharaman holds 5th review meeting on CAPEX of CPSEs to boost expenditure in economy
    November 25, 2020
    Cabinet approves Capital infusion into NIIF Infrastructure Debt Financing Platform comprising Aseem Infrastructure Finance Limited and NIIF Infrastruc...
    November 24, 2020
    Finance Minister Smt. Nirmala Sitharaman says momentum of reforms continues during the pandemic and will continue; Economy is facing a reset exercise
    November 21, 2020
    Finance Minister Smt. Nirmala Sitharaman attends the G20 Finance Ministers virtual meeting
    November 9, 2020
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    October 21, 2020
    Cabinet approves Mutual Recognition Agreement between ICAI, India and MICPA, Malaysia
    October 19, 2020
    Finance Minister Smt. Nirmala Sitharaman holds 4th review meeting on CAPEX of CPSEs
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    October 15, 2020
    Caution to Investors against unsolicited investment tips
    October 15, 2020
    Finance Minister Smt. Nirmala Sitharaman attends the G20 Finance Ministers and Central Bank Governors Meeting through video conferencing
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    Market Access through Authorised Persons
    October 9, 2020
    Prime Minister’s key note address at Invest India Confernce in Canada
    September 24, 2020
    Rationalization of Eligibility criteria and Disclosure requirements for Rights Issues
    September 21, 2020
    Insurance coverage to PMJDY account holders
    September 21, 2020
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All › Corp. Laws, SEBI & IBC › Corp. Laws, SEBI & IBC - 2020
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December 14, 2020
IFSCA notifies International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020
Show AI Summary
Bullion Exchange regulation: IFSCA sets framework for bullion trading, clearing, depository and vaulting services.
Regulations establish a regulatory framework to operationalize a Bullion Exchange within the International Financial Services Centre after classifying bullion spot delivery contracts and bullion depository receipts as Financial Services. The International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 set out provisions for the Exchange, a Clearing Corporation, Depositories and Vaults, organised across sixteen chapters addressing exchange and clearing arrangements and storage and depository provisions.
December 9, 2020
Cabinet approves the proposal of Securities & Exchange Board of India (SEBI) tosign Bilateral Memorandum of Understanding between India and Luxembourg
Show AI Summary
Cross-border securities cooperation to enable information sharing and technical assistance for enhanced regulatory supervision and enforcement.
Approval is granted for SEBI to sign a Bilateral Memorandum of Understanding with Luxembourg's CSSF to establish a framework for information sharing, mutual assistance in enforcement of securities laws, and supervisory cooperation, and to create a technical assistance programme for consultations, capacity building and training of regulatory staff.
December 1, 2020
Finance Minister delivers keynote address at the inauguration of the Sri Lanka Economic Summit 2020
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Economic cooperation and regulatory consistency underpin India-Sri Lanka partnership to support people centric economic revival and sustained growth.
The address advocates aligning India's and Sri Lanka's self reliance strategies to foster bilateral economic cooperation aimed at people centric revival, stressing that regulatory consistency and policy certainty are essential to attract industry and private sector participation and to sustain development partnership.
November 27, 2020
Finance Minister Smt. Nirmala Sitharaman holds 5th review meeting on CAPEX of CPSEs to boost expenditure in economy
Show AI Summary
Capital expenditure targets for public sector enterprises must be accelerated and closely monitored to support economic recovery.
Capital expenditure by Central Public Sector Enterprises is directed to be accelerated as a key economic driver, with ministry secretaries and CPSE leadership instructed to monitor performance, resolve impediments, ensure timely utilisation of allocated capital outlays, and meet sequential quarterly utilisation benchmarks to support economic recovery.
November 25, 2020
Cabinet approves Capital infusion into NIIF Infrastructure Debt Financing Platform comprising Aseem Infrastructure Finance Limited and NIIF Infrastructure Finance Limited
Show AI Summary
Government equity infusion into NIIF debt platform to catalyse pension and sovereign investments and scale infrastructure debt financing.
Government approval authorises phased equity infusion into the NIIF Infrastructure Debt Financing Platform on conditions of fiscal readiness and demand; NIIF must use this capital to catalyse equity from domestic and global pension, insurance and sovereign wealth funds. The platform comprises two NBFCs-one targeting under construction and near operational assets and an NBFC IDF serving as a take out vehicle for mature assets-with in house appraisal, bond market intermediation, and external capital raising as core operational measures to scale infrastructure debt financing and relieve bank exposures.
November 24, 2020
Finance Minister Smt. Nirmala Sitharaman says momentum of reforms continues during the pandemic and will continue; Economy is facing a reset exercise
Show AI Summary
Opening sectors to foreign investment expands participation and promotes domestic competitiveness through targeted reforms and investment facilitation.
The Government is advancing reforms to attract MNCs by liberalising niche sectors to foreign participation, promoting disinvestment and financial sector professionalisation, and facilitating sovereign fund partnerships. It is establishing Special Manufacturing Zones for Pharma, Medical Devices and APIs with a unified single window mechanism and proposing slab based incentives tied to FDI size to strengthen domestic competitiveness and integrate India into global value chains.
November 21, 2020
Finance Minister Smt. Nirmala Sitharaman attends the G20 Finance Ministers virtual meeting
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G20 Action Plan reinforces coordinated economic response and recovery, prioritising vaccine access and debt suspension measures.
Participation in the G20 Finance Ministers meeting emphasised the G20 Action Plan as the central coordinating framework for immediate crisis response and long term recovery, stressed affordability and accessibility of vaccines, and called for collective implementation of the Debt Service Suspension Initiative as a key deliverable requiring coordinated action by G20 members.
November 9, 2020
Finance Minister Smt. Nirmala Sitharaman attends 1st BRICS Finance Ministers and Central Bank Governors Meeting
Show AI Summary
Taxation of the digital economy: consensus-based solution urged to ensure fairness and sustainability of tax systems.
The meeting endorsed the G20 Action Plan and the Debt Service Suspension Initiative as central multilateral responses to COVID 19, urged a consensus solution for taxation of the digital economy to ensure fairness and sustainability of tax systems, supported expansion of the New Development Bank's membership with attention to regional balance, and considered development of an integrated digital platform to foster infrastructure investment and information sharing.
October 21, 2020
Cabinet approves Mutual Recognition Agreement between ICAI, India and MICPA, Malaysia
Show AI Summary
Mutual recognition agreement enables qualified chartered accountants to obtain reciprocal membership between two professional bodies.
Approval of a Mutual Recognition Agreement creates a framework for reciprocal admission of appropriately qualified Chartered Accountants between ICAI and MICPA by recognising qualifications through specified modules, allocating credit for existing accountancy qualifications, and setting the basis for membership admission; the parties will share information on changes to qualifying requirements, CPD policy, exemptions and related matters.
October 19, 2020
Finance Minister Smt. Nirmala Sitharaman holds 4th review meeting on CAPEX of CPSEs
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Capital expenditure oversight urged to reach major quarterly outlay, with ministries and CPSEs instructed to coordinate and monitor.
The Finance Minister held a review stressing CAPEX as a critical driver of growth, noting lower H1 execution and urging scaling up CAPEX for FY 2020-21 and FY 2021-22. Secretaries and CMDs were directed to coordinate closely and monitor performance to ensure timely and proper utilisation of capital outlay, specifically to achieve 75% of the capital outlay by end of Q3 of FY 2020-21, with joint CAPEX reviews conducted by the central economic and public enterprise departments.
October 17, 2020
Finance Minister Smt. Nirmala Sitharaman participates in 102nd meeting of the World Bank Development Committee Plenary
Show AI Summary
Economic stimulus measures and structural labor reforms strengthen pandemic response while expanding social protection and rural support.
Government fiscal and policy response to COVID 19 comprises direct cash transfers and expanded food security measures, a large economic package aimed at self reliance, liquidity and refinance support for rural and farm sectors, increased employment guarantee allocations, and a commitment to strengthen health infrastructure. Complementary reforms include consolidation of central labour laws and the implementation of National Portability of ration cards to extend social protection to migrant workers, framed alongside engagement with multilateral debt suspension and pandemic financing initiatives.
October 16, 2020
Finance Minister Smt. Nirmala Sitharaman attends the Plenary Meeting of the International Monetary and Financial Committee of the IMF through video-conference
Show AI Summary
Policy support: sustained recovery measures urged to avert liquidity shortfalls and protect vulnerable livelihoods during pandemic recovery.
The IMFC met virtually to consider the IMF Managing Director's Global Policy Agenda; the minister outlined India's AtmaNirbhar Bharat Package as a tool to speed recovery, citing a V-shaped rebound in key indicators and stimulus to support consumer demand and manufacturing. She supported the IMF's caution that withdrawing policy support too soon may cause liquidity shortfalls and insolvencies, and urged that recovery efforts must protect livelihoods in low-income and developing countries. The IMFC's advisory, twice-yearly ministerial role was noted.
October 15, 2020
Caution to Investors against unsolicited investment tips
Show AI Summary
Unsolicited investment tips: disregard and perform due diligence to protect investors and market integrity online.
Unsolicited messages with stock tips and investment advice circulated via bulk SMS, websites and social media convey fraudulent, misleading or false information about listed companies, inducing trading based on unreliable recommendations. Investors are cautioned not to rely on such unsolicited tips and are urged to exercise appropriate due diligence, verify information from reliable sources, and independently assess recommendations to protect their interests and market integrity.
October 15, 2020
Finance Minister Smt. Nirmala Sitharaman attends the G20 Finance Ministers and Central Bank Governors Meeting through video conferencing
Show AI Summary
Debt suspension initiative extended and reviewed, with emphasis on balanced recovery and structural debt treatment to protect vulnerable countries.
The G20 updated the G20 Action Plan to align COVID 19 response commitments with current health and economic priorities, emphasising policy balance, heterogeneity of national responses, international spillovers, and limits to procyclical credit rating effects. The meeting extended the Debt Service Suspension Initiative (DSSI) for eligible low income countries and agreed to review the need for further extension by the 2021 IMF/WBG Spring Meetings, while calling for structural debt treatment that considers creditor and debtor concerns and avoids unduly burdensome conditionalities.
October 15, 2020
Market Access through Authorised Persons
Show AI Summary
Market access through Authorised Persons expands investor access to exchange traded products and deepens secondary market liquidity.
IFSCA's framework permits stock brokers and trading members registered with IFSCA or SEBI to provide market access to investors through Authorised Persons based in foreign jurisdictions, where an Authorised Person is an individual, partnership, LLP or body corporate that acts as an agent of the stock broker to provide access to a stock exchange trading platform.
October 9, 2020
Prime Minister’s key note address at Invest India Confernce in Canada
Show AI Summary
Investor-friendly regulatory reforms expand foreign investment access and streamline corporate, labour, and agricultural frameworks for global investors.
India has implemented policy measures to attract investment by liberalizing FDI, creating a tax-friendly regime for Sovereign Wealth and Pension Funds, reforming the bond market, and offering incentives for sectors such as pharmaceuticals, medical devices and electronics. Investor facilitation includes an Empowered Group of Secretaries and a unified regulator for the IFSC at GIFT City. The government is enabling asset monetization via REITs and InvITs and pursuing deregulation and decriminalization under corporate law alongside structural reforms in education, labour and agriculture to expand market access and participation.
September 24, 2020
Rationalization of Eligibility criteria and Disclosure requirements for Rights Issues
Show AI Summary
Rights issue reforms: truncated and intermediate disclosures plus eased filing and subscription rules to speed fundraising.
Amendments permit truncated disclosures for issuers meeting recent listing-compliance criteria or post-change-in-control/listing timelines; others must use an intermediate disclosure format. Disclosure duplication is reduced by relying on information already made public under listing rules. The changes raise the filing threshold for draft letters of offer, exempt certain rights issues from the strict minimum subscription requirement when proceeds are not for capital expenditure subject to promoter subscription undertakings, and allow fast-track rights issues with required adverse-impact disclosures despite pending enforcement or audit matters.
September 21, 2020
Insurance coverage to PMJDY account holders
Show AI Summary
Insurance coverage for PMJDY account holders enhanced; additional opt-in schemes available with auto-debit and express consent.
Pradhan Mantri Jan-Dhan Yojana account holders receive inbuilt accidental cover linked to the RuPay debit card, with an increased coverage level for cards issued after 28.08.2018. Eligible PMJDY account-holders may opt into Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana; each scheme provides specified insurance coverage to beneficiaries within defined age ranges upon payment of an annual premium collected by auto-debit from the bank account, requiring the express consent of the account holder.
September 21, 2020
35,074 taxpayers opt for Vivad Se Vishwas Scheme
Show AI Summary
Tax dispute settlement scheme increases voluntary declarations, extends filing deadline and augments government settlement receipts.
The Vivad Se Vishwas scheme recorded 35,074 Form 1 declarations through 8 September 2020 and realized reported receipts of Rs. 9,538 crore, a figure that excludes payments by taxpayers who have not yet filed declarations; the filing deadline for declarations has been extended to 31 December 2020.
September 21, 2020
Performance of NCLTs
Show AI Summary
Tribunal caseload management: staffing, e court rollout and virtual hearings used to address pending insolvency and corporate cases.
Tribunal caseload management emphasizes administrative and technological measures: regular posts were created with Recruitment Rules notified and appointments initiated though only a limited number are filled; an e court programme has been implemented across benches, e filing begun at some benches with expansion planned, and hearings have been conducted by video conferencing during the public health emergency to maintain case processing.

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Insurance coverage to PMJDY account holders

September 21, 2020

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Under Pradhan Mantri Jan-Dhan Yojana (PMJDY), a free RuPay debit card is provided to the PMJDY account holders with inbuilt accident insurance cover of ₹ 1 lakh. This coverage amount has since been raised from ₹ 1 lakh to ₹ 2 lakh to PMJDY accounts opened after 28.08.2018. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha.

Giving more details, the Minister said that all eligible and willing PMJDY account-holders can enroll under Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

Under PMSBY, accident insurance coverage of ₹ 2 lakh is provided to enrolled beneficiaries in the age group of 18 years to 70 years with an annual premium of ₹ 12 only through auto-debit from bank account with express consent of the account holder.

Under PMJJBY, life insurance coverage of ₹ 2 lakh is provided to enrolled beneficiaries in the age group of 18 years to 50 years for an annual premium of ₹ 330 through auto debit from bank account with express consent of the account holder

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