Page 5 - Regulations

Cough syrup exporters need to undertake testing at govt labs from June 1

Cough syrup exporters will have to undertake testing of their products at specified government laboratories from June 1 before getting permission for the outbound shipments. The direction has come after quality concerns were raised globally for cough syrups exported by Indian firms. The export of cough syrup shall be permitted to be exported subject to export samples being tested and production of certificate of analysis issued by any of the laboratories, with effect from June 1, 2023, the Directorate General of Foreign Trade (DGFT) said in a notification on Monday. The specified central government labs include Indian Pharmacopoeia Commission, regional drug testing lab (RDTL - Chandigarh), central drugs lab (CDL - Kolkata), central drug testing lab (CDTL - Chennai Hyderabad, Mumbai), RDTL (Guwahati)] and the NABL (National Accreditation Board for Testing and Calibration Laboratories) accredited drug testing labs of state governments. Explaining further, an official said that to ...

NHB asks housing finance cos to adopt early warning signals framework

Regulator for housing finance firms NHB has asked housing finance companies with asset size of over Rs 1,000 crore to adopt an early warning signals (EWS) framework to check financial frauds and also to prevent accounts from turning into non-performing assets. National Housing Bank (NHB), in a recent circular, said analysis of the frauds reported by the housing finance companies (HFCs) has revealed that the reasons behind accounts being identified as fraud accounts are seller impersonation, submission of fake income/ employment documents, submission of fake title deeds, a collusion of the builder and borrower. It has also been observed that such deficiencies are identified only when the borrower stops paying the EMIs after the disbursement of the loans, NHB said. "It has been therefore decided that an Early Warning Signals (EWS) Framework should be adopted by the HFCs so that an alert is triggered before the account turns into non-performing asset (NPA) or declared as a fraud ...

Sebi relief for large registrars on enhanced reporting requirements

Markets regulator Sebi on Monday provided relaxation of 60 days to large Registrars to an issue/ Share Transfer Agents (RTAs) from complying with the enhanced requirements pertaining to periodic reporting. Under the rules, QRTAs or qualified RTAs are required to comply with enhanced responsibilities through adoption and implementation of an internal policy framework and periodic reporting requirements. In a circular, Sebi clarified that an RTA would be categorised as QRTA if at any time during a financial year, the combined number of physical and demat folios being serviced by the RTA for listed companies exceeds 2 crore. In case of the categorisation as a QRTA, an intimation needs to be sent by the RTA within five working days to Sebi. Further, it said that an RTA will be considered as a QRTA from the date of categorisation as a QRTA and will be considered as such for the next 3 financial years, irrespective of subsequent fall in number of folios and will be liable to comply with

Sebi proposes to tighten regulations on issuance of bonus shares

The market watchdog noted that the proposed change will help mitigate the mismatch between the listed capital and issued capital of the issuer

New regulations to benefit Indian auto component manufacturers: Report

The new rules and trends are increasing the need for content per vehicle and this, in turn, is helping companies boost their revenue and profits

Indian gaming industry needs stable regulatory environment: Sameer Barde

The industry's worry is the "knee-jerk reaction" of states in regulating the industry, Barde said

Other countries should trust credibility of Indian regulations: RBI Guv Das

The India of today is different from what it was earlier and regulators of other countries should trust the credibility of Indian regulations, Reserve Bank of India Governor Shaktikanta Das said

What we know about Iran's notorious 'morality police' and how it operates

This force has been patrolling the streets of Iran since 2006, arbitrarily enforcing its strict dress code

Sebi penalises entity, directors for violating regulatory norms

Markets regulator Sebi on Tuesday imposed a penalty of Rs 50 lakh on an entity and its directors for violating the regulatory norms in the case of CapitalVia Global Research Ltd. The regulator slapped a fine of Rs 50 lakh on CapitalVia Global Research Ltd (Noticee 1) and its directors -- Kiran Ravindra Kumar Choudhary (Noticee 2), Rohit Gadia (Noticee 3) and Prem Prakash (Noticee 4). The penalty has to be paid jointly and severally. The order came after Sebi conducted an inspection of CapitalVia Global Research Ltd from April 2016 to September 2017 to verify whether CapitalVia and its directors had complied with regulatory requirements prescribed under IA (Investment Advisers) norms. Sebi had issued two orders against the company and its directors. In the first order vide dated November 2016, it directed noticees not to solicit or undertake any fresh advisory business from the date of order till further directions. In its second order, which was passed on January 2017, noticees w

Regulations not a remedy for fraud: Sebi whole time member SK Mohanty

According to a survey, 47 per cent respondents considered lack of visibility over third parties as the biggest concern to bribery and corruption

Crypto weekly wrap: Tokens recover after plunging post-US inflation data

Bitcoin rose by almost 4 per cent after dropping to its lowest at $18,300 post-US inflation data was released

Why India needs a central regulatory framework for online gaming?

In September, the I-T department issued show cause notices to seven online gaming firms and about three dozen high-value players for a possible evasion of Rs 28,000 crore

Solapur-based Laxmi Co-op Bank loses licence after failing RBI norms

Depositors to get insurance claim, amount of Rs 193.68 cr already paid out

DoT and TRAI to start consultation on regulating OTT communication apps

The telecom operators will welcome the move as they have long demanded that OTT communication apps that provide the same services as operators should be subjected to similar regulations

Explained: What are RBI's new norms for digital lending in India?

Digital lending involves giving and recovering loans through web platforms or mobile apps. Here are the new regulations and why they have been introduced

US: New cryptocurrency oversight legislation arrives as industry shakes

The regulations would authorize the Commodities Futures Trading Commission to be the default regulator for cryptocurrencies

Warning to Twitter aimed at 'securing internet' in India: Govt sources

The sources said Twitter has repeatedly violated directions issued under the IT Act

RBI's regulation review authority moots periodic review of existing rules

Also suggests that regulatory instructions should contain a statement of objective underlying the rationale for their issuance, supplemented with FAQs/guidance notes and illustrations

India committed to tackle maritime challenges through collaboration: Bhat

Union Minister of State for Defence Ajay Bhat said India was committed to tackling maritime challenges through a collaborative and regulation-based system to foster growth in coastal nations.

RBI imposes penalties on Tata Communications Payment Solutions, Appnit

The penalties are based on "deficiencies in regulatory compliance"