MINISTRY OF ROAD AND TRANSPORT AND HIGHWAYS
Rules regarding Category L2- 5 introduced vide CMV (Eighth Amendment) Rules, 2024
On 26-6-2024, the Ministry of Road Transport and Highways notified the Central Motor Vehicles (Eighth Amendment) Rules, 2024 to amend the Central Motor Vehicles Rules, 1989. The provisions came into force on 28-6-2024.
SECURITIES AND EXCHANGE BOARD OF INIDA (SEBI)
SEBI issues Master Circular for Mutual Funds rescinding 16 circulars
On 27-06-2024, the Securities and Exchange Board of India issued a Master Circular for mutual funds to incorporate all guidelines/directions issued for effective regulation of the mutual funds industry to enable the stakeholders to have access to all applicable regulatory requirements at one place.
Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024
On 27-06-2024, the Securities and Exchange Board of India notified the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024 to amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992. These regulations came into force on 28-06-2024.
SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2024
On 27-06-2024, the Securities and Exchange Board of India notified the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2024 (the Regulations). These regulations came into force on 28-6-2024.
SEBI modifies ‘Restrictions on Investments’ vide SEBI (Mutual Funds) (Amendment) Regulations, 2024
On 02-07-2024, the Securities and Exchange Board of India notified the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2024 to amend the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. These Regulations came into force on 02-07-2024.
SEBI issues Master Circular to consolidate all relevant circulars for Surveillance of Securities Market; rescinds 15 circulars
On 09-07-2024, the Securities and Exchange Board of India (‘SEBI’) issued a Master Circular for Surveillance of Securities Market to consolidate the provisions of all relevant circulars for the surveillance of the securities market in this Master Circular. This Master Circular came into force on 09-07-2024.
SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2024
On 08-07-2024, the Securities and Exchange Board of India (‘SEBI’) notified the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2024 (‘the Regulations’) to amend the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2024
On 08-07-2024, the Securities and Exchange Board of India (‘SEBI’) notified the SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2024 to amend the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. These Regulations came into force on 10-07-2024.
SEBI widens scope of ‘liquid asset’ for ESG Rating Providers vide SEBI (Credit Rating Agencies) (Amendment) Regulations, 2024
On 08-07-2024, the Securities and Exchange Board of India (‘SEBI’) notified the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2024 to amend the SEBI (Credit Rating Agencies) Regulations, 1999. They came into force on 11-07-2024.
SEBI lays down ‘Framework for Unit Based Employee Benefit Scheme’ vide SEBI (REIT) (Second Amendment) Regulations, 2024
On 09-07-2024, the Securities and Exchange Board of India (‘SEBI’) notified the SEBI (Real Estate Investment Trusts) (Second Amendment) Regulations, 2024 (‘The Regulations’) to amend the SEBI (Real Estate Investment Trusts) Regulations, 2014. These Regulations came into force on 12-07-2024.
RESERVE BANK OF INDIA (RBI)
RBI imposes penalty of Rs. 1.31 Crore on Punjab National Bank for non-compliance of directions on ‘Loans and Advances’ and ‘KYC’
By an order dated 03-07-2024, the Reserve Bank of India (‘RBI’) imposed a monetary penalty of Rs. 1,31,80,000 on Punjab National Bank (‘PNB’) for non-compliance with certain directions issued by RBI on ‘Loans and Advances — Statutory and Other Restrictions and the RBI (Know Your Customer) Direction, 2016.
RBI revises Master Directions on Fraud Risk Management in Regulated Entities; rescinds 36 Circulars
On 15-07-2024, the Reserve Bank of India (‘RBI’) issued three revised Master Directions for the Regulated Entities namely — ‘Master Directions on Fraud Risk Management in Commercial Banks (including Regional Rural Banks) and All India Financial Institutions’, ‘Master Directions on Fraud Risk Management in Urban Cooperative Banks/State Cooperative Banks/Central Cooperative Banks’, and ‘Master Directions on Fraud Risk Management in Non-Banking Financial Companies (including Housing Finance Companies)’.
RBI imposes penalty of Rs. 1.9 Lakh on Muthoot Finance Ltd. for non-compliance with KYC Directions, 2016
By an order dated 15-07-2024, the Reserve Bank of India (‘RBI’) has imposed a penalty of Rs. 1,90,000/- on Muthoot Finance Limited (‘Muthoot Finance’) for non-compliance with certain provisions of Know your Customer (KYC) Directions, 2016 issued by the RBI.
