Clarifications on the Prevention of Tampering of the Mobile Device Equipment Identification Number (Amendment) Rules, 2022

Legal Category: IT and Data Protection
Rule ACT: Indian Wireless Telegraphy Act - Central
Update Type: Notification
Notification Date: 27, Oct, 2022
Notification No: No. 13-15/2021-UDS
Description: Department of Telecommunications (Security Assurance Wing) issued a Notification regarding clarifications on various points on the prevention of tampering of the Mobile Device Equipment Identification Number (Amendment) Rules, 2022. Kindly refer the attached documents for the details.

Generic Testing Procedure for Implementation of Mobile Number Portability (SeventhAmendment) Regulations, 2018 for the New Entrants

Legal Category: IT and Data Protection
Rule ACT: Indian Wireless Telegraphy Act - Central
Update Type: Letter
Notification Date: 28, Nov, 2022
Notification No: File No: 800/12/2017-AS.II
Description: Department of Telecommunications issued a Letter regarding testing procedure with regards to the implementation of the Telecommunication Mobile Number Portability (7th Amendment) Regulations, 2018 for new entrants. For complete details kindly refer to the test guide attached.

Procedure for Clearance of Permissible Activities as per the CRZ Notification, 2019 1 ICRZ Notification, 2019

Legal Category: Environmental, Occupational Health and Safety
Rule ACT: Environment Protection Act
Update Type: Memorandum
Notification Date: 29, Nov, 2022
Notification No: F.No.1A3-12/1/2022-IA.III
Description: Ministry of Environment, Forest and Climate Change has issued an office memorandum regarding the procedure for clearance of permissible activities as per the CRZ Notification, 2019 and ICRZ Notification, 2019, specified in the document attached.

Odisha Motor Vehicles (Registration and Functions of Vehicle Scrapping Facility) Policy, 2022

Legal Category: Industry Specific
Rule ACT: Motor Vehicles Act - Odisha
Update Type: Policy
Notification Date: 30, Nov, 2022
Notification No: No.10677-TRN-LC-MISC-0021/2021/T.
Description: The State Transport Authority, Government of Odisha, has issued a policy for setting up Registered Vehicle Scrapping Facility for carrying out dismantling and scrapping operations of End of Life vehicles, which applies to all vehicles and their last registered owners, Automobile collection centers, Automotive Dismantling, Scrapping and Recycling Facilities and re-cyclers of all types of automotive waste products. For further information on the policy, please refer the attached document.

Extension of Project Registration for More than One Year

Legal Category: Industry Specific
Rule ACT: Real Estate (Regulation and Development) Act - Chhattisgarh
Update Type: Order
Notification Date: 03, Dec, 2022
Notification No: No. 16/RERA/2022/1545
Description: The Chhattisgarh Real Estate Regulatory Authority, has issued an order regarding extension of project registration for more than one year. For further information on the registration fees, please refer the attached document.

Inter State Transmission System Charges on Transmission of Electricity Generated from New Hydro-Power Projects

Legal Category: Industry Specific
Rule ACT: Electricity Act - Central
Update Type: Press Release
Notification Date: 02, Dec, 2022
Notification No: NA(Inter State Transmission System Charges on Transmission of Electricity Generated from New Hydro-Power Projects)
Description: The Ministry of Power has issued orders for the waiver of Inter State Transmission System charges on transmission of electricity generated from new hydro-power projects as a further step to realize the government's commitment to achieve its power requirements from renewable energy sources. For further information, please refer to the attached document.

Migration of Punjab National Bank from OLTAS e-Payment of Taxes at Protean

Legal Category: Taxation
Rule ACT: Income Tax Act
Update Type: Others
Notification Date: 01, Dec, 2022
Notification No: NA (Migration of Punjab National Bank from OLTAS e-Payment of Taxes at Protean)
Description: The Income tax Department, Government of India has notified that the Punjab National Bank has been migrated from OLTAS e-Payment of Taxes at Protean (previously NSDL) to e-Pay Tax facility at the e-Filing portal for payment of taxes henceforth and the list of all the banks eligible for tax payments are also enclosed.

Revised Regulatory Framework for Urban Co-operative Banks (UCBs) – Net Worth and Capital Adequacy

Legal Category: Finance
Rule ACT: Banking Regulation Act
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: RBI/2022-23/146 DOR.CAP.REC.No.86/ 09.18.201/2022-23
Description: The Reserve Bank of India (RBI) has notified the Revised Regulatory Framework for the categorization of the Urban Co-operative Banks (UCBs) with respect to net worth and capital adequacy effective from April 1, 2023.

Revised Regulatory Framework - Categorization of Urban Co-operative Banks (UCBs) for Regulatory Purposes

Legal Category: Finance
Rule ACT: Banking Regulation Act
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: RBI/2022-23/144 DOR.REG.No.84/07.01.000/2022-23
Description: The Reserve Bank of India (RBI) has decided to adopt a four-tiered regulatory framework, as against the existing two-tiered framework, for the categorization of Urban Co-operative Banks (UCBs). Going forward, this categorization may be used for differentiated regulatory prescriptions aimed at strengthening the financial soundness of the UCBs. The categorization of UCBs, based on their deposit size, is enclosed in Annex to the said notification.

Review of norms for classification of Urban Co-operative Banks (UCBs) as Financially Sound and Well Managed (FSWM)

Legal Category: Finance
Rule ACT: Banking Regulation Act
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: RBI/2022-23/143 DOR.REG.No.85/07.01.000/2022-23
Description: The Reserve Bank of India (RBI) has revised the criteria for Urban Co-operative Banks (UCBs) to be classified as Financially Sound and Well Managed (FSWM) and revised instructions to this effect has been issued by the Bank.

Framework for deactivation of demat accounts in cases of inadequate KYCs

Legal Category: SEBI
Rule ACT: SEBI (Depositories and Participants) Regulations
Update Type: Circular
Notification Date: 01, Dec, 2022
Notification No: NSDL/POLICY/2022/170
Description: The National Securities Depository Limited (NSDL) has further advised the following in respect of the Framework for deactivation of demat accounts in cases of inadequate KYCs as was notified by the Securities and Exchange Board of India (SEBI):
1. Duly signed physical acknowledgment of receipt of Show Cause Notice (SCN)/ Orders shall be obtained by the Participant from the noticees in the format (Annexure A) as prescribed by SEBI
2. Submit the physical copy of duly signed acknowledgment obtained by them from their demat account holder(s) as prescribed
3. In case of failure to obtain physical acknowledgment of delivery of SCN/Order from the demat account holder(s) by the Participants and submission of the same, freezing (For Debit and Credit, except for corporate actions) of such demat account shall be done by NSDL together with PAN level restriction.

Notification of Significant Benchmark

Legal Category: Finance
Rule ACT: RBI Act
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: RBI/2022-23/142 FMRD.FMSD.06/03.07.25/2022-23
Description: The Reserve Bank of India (RBI) has notified the Modified Mumbai Interbank Forward Outright Rate (MMIFOR) administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as a ‘significant benchmark’ in terms of the provisions of the Financial Benchmark Administrators (Reserve Bank) Directions, 2019 and also advised that the person administering the ‘significant benchmark’, shall make an application to the Reserve Bank within a period of three months from the date of this notification for authorization to continue
administering MMIFOR.

Draft Civil Aviation Requirement for Approval of Dangerous Goods Regulations Training Programme

Legal Category: Industry Specific
Rule ACT: Aircraft (Carriage of Dangerous Goods) Rules - Central
Update Type: Draft
Notification Date: 30, Nov, 2022
Notification No: NA(Draft Civil Aviation Requirement for Approval of Dangerous Goods Regulations Training Programme)
Description: The Office of the Director General of Civil Aviation has issued a Notification regarding Draft Civil Aviation Requirement for Approval of Dangerous Goods Regulations Training Programme. This Civil Aviation Requirement lays down the requirements and procedure for grant of approval to the dangerous goods training programmes. The comments on the same are invited by December 29, 2022.

Date of Withdrawal of Indian Standards

Legal Category: Industry Specific
Rule ACT: Bureau of Indian Standards - Central
Update Type: Notification
Notification Date: 24, Nov, 2022
Notification No: HQ-PUB017/1/2020-PUB-BIS(455)
Description: The Bureau of Indian Standards, has issued a notification regarding the Date Withdrawal of certain Indian Standards and the Date of Withdrawal of applicable Indian Standards is November 23, 2022. For further details on Indian Standards Kindly refer the attach documents.

Date of Establishment and Withdrawal of Indian Standards

Legal Category: Industry Specific
Rule ACT: Bureau of Indian Standards - Central
Update Type: Notification
Notification Date: 24, Nov, 2022
Notification No: HQ-PUB013/1/2020-PUB-BIS (453)
Description: The Bureau of Indian Standards, has issued a notification regarding the date of Establishment and Withdrawal of certain Indian Standards the Date of Establishment is November 15, 2022 and the Date of Withdrawal of applicable Indian Standards is December 15, 2022. For further details on Indian Standards Kindly refer the attach documents.

Draft for Food Safety and Standards (Labelling and Display) Amendment Regulations, 2022

Legal Category: Environmental, Occupational Health and Safety
Rule ACT: Food Safety and Standards Act
Update Type: Draft
Notification Date: 30, Nov, 2022
Notification No: F.No. STD/SP-08/A1.2022/N-01
Description: Food Safety and Standards Authority of India issued Draft Regulations related to Labelling Requirements of non-retail containers and the substitution or omission of certain regulations to amend the Food Safety and Standards (Labelling and Display) Regulations, 2020. Kindly refer the attached documents for details.

Addition in Name of the Food Analyst & Laboratory

Legal Category: Industry Specific
Rule ACT: Food Safety and Standards (Recognition and Notification of Laboratories) Regulations - Central
Update Type: Notification
Notification Date: 18, Nov, 2022
Notification No: F. No. 12015/05/2021-QA
Description: Food Safety and Standards Authority of India issued a notification regarding Addition in Name of the Food Analyst & Laboratory of serial number 168 "Ms. Ruby Mishra National Food Laboratory, Ghaziabad" in the list of name of Food Analyst & Laboratory.

Amendment in Indian Standards

Legal Category: Industry Specific
Rule ACT: Bureau of Indian Standards - Central
Update Type: Notification
Notification Date: 24, Nov, 2022
Notification No: HQ-PUB014/1/2020-PUB-BIS (454)
Description: The Bureau of Indian Standards has issued a notification regarding amendment in an Indian Standard IS 15961 : 2012 Hot Dip Aluminum — Co Zinc Alloy Metallic ated Steel Strip and Sheet (Plain), Amendment No. 3 November, 2022. The date of establishment of which is 24 November 2022 and the date till which the standard without the amendment shall remain in force is 23 February, 2023.

Exemption of Petroleum Crude from Special Additional Excise Duty

Legal Category: Taxation
Rule ACT: Excise Act - Central
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: 40/2022-Central Excise
Description: The Central Government has exempted the petroleum crude from so much of special additional excise duty that is in excess of Rs. 4,900 per tonne effective from December 02, 2022.

Exemption of High Speed Diesel Oil from Special Additional Excise Duty

Legal Category: Taxation
Rule ACT: Excise Act - Central
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: 41/2022-Central Excise
Description: The Central Government has exempted the high speed diesel oil from special additional excise duty leviable thereon, as is in excess of the amount calculated at the rate of Rs. 6.50 per litre effective from December 02, 2022.

CBIC Determines Exchange Rate of Conversion of Foreign Currency

Legal Category: Exim
Rule ACT: Customs Act
Update Type: Notification
Notification Date: 01, Dec, 2022
Notification No: 101/2022 -Customs (N.T.)
Description: The Central Board of Indirect Taxes and Customs (CBIC) has determined the new exchange rate of conversion of foreign currency into Indian currency or vice versa which shall be effective from December 02, 2022.

Clarification with respect to NDS-OM - Investments - Master Circular

Legal Category: Industry Specific
Rule ACT: IRDA Act
Update Type: Circular
Notification Date: 01, Dec, 2022
Notification No: IRDAI/F&I/CIR/INV/233/12/2022
Description: The Insurance Regulatory and Development Authority of India (IRDAI) has issued clarification pertaining to the provisions of Investments - Master Circular No. IRDA/F&I/CIR/INV/226/10/2022 Dated- 27th October, 2022 wherein all the trades reported on Negotiated Dealing System- Order Matching System (NDS-OM) platform shall be treated as compliance with the requirements of the provisions of the said Master Circular.

Operations of Subsidiaries and Branches of Indian Banks and All India Financial Institutions (AIFIs) in Foreign Jurisdictions

Legal Category: Finance
Rule ACT: Banking Regulation Act
Update Type: Circular
Notification Date: 01, Dec, 2022
Notification No: RBI/2022-23/145 DOR.MRG.REC.87/00-00-020/2022-23
Description: The Reserve Bank of India has issues Compliance requirement Statutory and Regulatory Norms for Operations of Subsidiaries and Branches of Indian Banks and All India Financial Institutions (AIFIs) in Foreign Jurisdictions and in International financial Services Centers (IFSCs).

Operational Circular for Listing Obligations and Disclosure Requirements for Non-convertible Securities, Securitized Debt Instruments and Commercial Paper as updated on December 01, 2022

Legal Category: SEBI
Rule ACT: SEBI (Listing Obligations and Disclosure Requirements) Regulations
Update Type: Circular
Notification Date: 01, Dec, 2022
Notification No: NA (Operation Circular December)
Description: The Securities and Exchange Board of India has updated the Operational Circular for Listing Obligations and Disclosure Requirements for Non-Convertible Securities, Securitized Debt Instruments and/or Commercial Paper as on December 01, 2022.

Extension of Timeline for Implementation of Standardized Industry Classification by Credit Rating Agency

Legal Category: SEBI
Rule ACT: SEBI (Credit Rating Agencies) Regulations
Update Type: Circular
Notification Date: 01, Dec, 2022
Notification No: SEBI/HO/DDHS/DDHS-RACPOD2/P/CIR/2022/168
Description: The securities and Exchange Board of India has extended the date of applicability of Standardized Industry Classification by Credit Rating Agency till December 15, 2022.
  • 27, Oct, 2022 Clarifications on the Prevention of Tampering of the Mobile Device Equipment Identification Number (Amendment) Rules, 2022
  • 28, Nov, 2022 Generic Testing Procedure for Implementation of Mobile Number Portability (SeventhAmendment) Regulations, 2018 for the New Entrants
  • 29, Nov, 2022 Procedure for Clearance of Permissible Activities as per the CRZ Notification, 2019 1 ICRZ Notification, 2019
  • 30, Nov, 2022 Odisha Motor Vehicles (Registration and Functions of Vehicle Scrapping Facility) Policy, 2022
  • 03, Dec, 2022 Extension of Project Registration for More than One Year
  • 02, Dec, 2022 Inter State Transmission System Charges on Transmission of Electricity Generated from New Hydro-Power Projects
  • 01, Dec, 2022 Migration of Punjab National Bank from OLTAS e-Payment of Taxes at Protean
  • 01, Dec, 2022 Revised Regulatory Framework for Urban Co-operative Banks (UCBs) – Net Worth and Capital Adequacy
  • 01, Dec, 2022 Revised Regulatory Framework - Categorization of Urban Co-operative Banks (UCBs) for Regulatory Purposes
  • 01, Dec, 2022 Review of norms for classification of Urban Co-operative Banks (UCBs) as Financially Sound and Well Managed (FSWM)
  • 01, Dec, 2022 Framework for deactivation of demat accounts in cases of inadequate KYCs
  • 01, Dec, 2022 Notification of Significant Benchmark
  • 30, Nov, 2022 Draft Civil Aviation Requirement for Approval of Dangerous Goods Regulations Training Programme
  • 24, Nov, 2022 Date of Withdrawal of Indian Standards
  • 24, Nov, 2022 Date of Establishment and Withdrawal of Indian Standards
  • 30, Nov, 2022 Draft for Food Safety and Standards (Labelling and Display) Amendment Regulations, 2022
  • 18, Nov, 2022 Addition in Name of the Food Analyst & Laboratory
  • 24, Nov, 2022 Amendment in Indian Standards
  • 01, Dec, 2022 Exemption of Petroleum Crude from Special Additional Excise Duty
  • 01, Dec, 2022 Exemption of High Speed Diesel Oil from Special Additional Excise Duty
  • 01, Dec, 2022 CBIC Determines Exchange Rate of Conversion of Foreign Currency
  • 01, Dec, 2022 Clarification with respect to NDS-OM - Investments - Master Circular
  • 01, Dec, 2022 Operations of Subsidiaries and Branches of Indian Banks and All India Financial Institutions (AIFIs) in Foreign Jurisdictions
  • 01, Dec, 2022 Operational Circular for Listing Obligations and Disclosure Requirements for Non-convertible Securities, Securitized Debt Instruments and Commercial Paper as updated on December 01, 2022
  • 01, Dec, 2022 Extension of Timeline for Implementation of Standardized Industry Classification by Credit Rating Agency
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