MINISTRY OF HOME AFFAIRS
New Criminal Laws notified: Will be effective from July 1, 2024
On 23-2-2024, the Ministry of Home Affairs notified the effective date of Bharatiya Nyaya Sanhita, 2023, the Bharatiya Sakshya Adhiniyam, 2023 the Bharatiya Nagarik Suraksha Sanhita, 2023.
MINISTRY OF HEALTH AND FAMILY WELFARE
MoHFW allows One Donor Gamete for undergoing Surrogacy subject to medical conditions prescribed by District Medical Board
On 21-2-2024, the Ministry of Health and Family Welfare notified the Surrogacy (Regulation) Amendment Rules, 2024 to amend the Surrogacy (Regulation) Rules, 2022. The provisions came into force on 21-2-2024.
MINISTRY OF LABOUR AND EMPLOYMENT
Labour Ministry increases Expenditure limit of contracts which need prior sanction of Standing Commitee to Rs. 25 crores
On 26-2-2024, the Ministry of Labour and Employment notified the Employees’ State Insurance (Central) Amendment Rules, 2024 to amend the Employees’ State Insurance (Central) Rules, 1950. The provisions came into force on 26-2-2024.
MINISTRY OF POWER
Ministry of Power reduces maximum time limit for granting new connections and modifying existing connections
On 22-2-2024, the Ministry of Power notified the Electricity (Rights of Consumers) Amendment Rules, 2024 to amend the Electricity (Rights of Consumers) Rules, 2020. The provisions came into force on 22-2-2024.
UNIQUE IDENTIFICATION AUTHORITY OF INDIA (UIDAI)
UIDAI revises Aadhaar (Authentication and Offline Verification) Regulations 2021
On 31-1-2024, the Unique Identification Authority of India notified the Aadhaar (Authentication and Offline Verification) Amendment Regulations, 2024 to amend the Aadhaar (Authentication and Offline Verification) Regulations, 2021.
Fee for authentication to be revised upon completion of every 24 months based on Consumer Price Index | UIDAI
On 31-1-2024, the Unique Identification Authority of India notified the Aadhaar (Payment of Fees for Performance of Authentication) Amendment Regulations, 2024 to amend the Aadhaar (Payment of Fees for Performance of Authentication) Regulations, 2023.
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PFRDA)
Governance and operational standards of Central Recordkeeping Agencies enhanced vide PFRDA (Central Recordkeeping Agency) (Amendment) Regulations, 2023
On 9-2-2024, the Pension Fund Regulatory and Development Authority (‘PFRDA’) notified the Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) (Amendment) Regulations, 2023 to amend the Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015.
PFRDA decreases turnaround time for grievance redressal to 21 days
On 21-2-2024, the Pension Fund Regulatory and Development Authority (‘PFRDA’) notified the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) (Second Amendment) Regulations, 2023 to amend the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015.
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (IBBI)
IBBI excludes assets in a real estate project that have been handed over to the allottee from liquidation process of the company
On 12-2-2024, the Insolvency and Bankruptcy Board of India (‘IBBI’) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2024 to amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
IBBI introduces Monitoring Committe for streamlining implementation of Resolution Plan
On 15-2-2024, the Insolvency and Bankruptcy Board of India (‘IBBI’) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024 to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
COMPETITION COMMISSION OF INDIA (CCI)
CCI introduces provision for Lesser Penalty Plus vide CCI (Lesser Penalty) Regulations, 2024
On 20-2-2024, the Competition Commission of India notified the Competition Commission of India (Lesser Penalty) Regulations, 2024. The provisions came into force on 20-2-2024.
RESERVE BANK OF INDIA (RBI)
RBI advises NPCI to examine request of One97 Communication Ltd to become a Third-Party Application Provider
On 23-2-2024, the Reserve Bank of India (‘RBI’) laid down additional steps that has to be followed by the Paytm Payments Bank Ltd. (‘Paytm Bank’) along the with the business restrictions that were imposed on the Paytm Bank earlier.
