News and Updates Issue 06 Duration March 16-31, 2021

Truth is more of a stranger than fiction.

MARK TWAIN

BANKING AND FOREIGN EXCHANGE

  • The Reserve Bank of India (RBI) has issued a press release RBI/2020-21/110 dated March 23, 2021 in relation to Amendment to Master Direction (MD) on KYC – Procedure for Implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967 ReadMore
  • The Reserve Bank of India (RBI) has issued a press release RBI/2020-21/116 A.P. (DIR Series) Circular No. 14 dated March 31, 2021 in relation to investment by Foreign Portfolio Investors (FPI): Investment limits ReadMore
  • The Reserve Bank of India (RBI) has issued a press release RBI/2020-21/118 dated March 31, 2021 in relation to framework for processing of e-mandates for recurring online transactions ReadMore

LABOUR LAW

  • The four Codes, namely, the Code on Wages, 2019, the Industrial Relations Code, 2020, the Occupational Safety, Health and Working Conditions Code, 2020 and the Code on Social Security, 2020 have been notified in Gazette of India. [March 22, 2021] ReadMore
  • In a recently issued order, the Ministry of Labour and Employment has directed the State Welfare Boards (SWBs) not to distribute articles and household items to the BOC workers and instead provide monetary assistance through Direct Benefit Transfer (DBT) into the workers’ bank accounts. The order was circulated on 22nd March, 2021 to the Chief Secretaries, Principal Secretaries (Labour), Labour Commissioners and the Secretaries of the State BOCW Welfare Boards by the Ministry under the powers given to it by Section 60 of the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996. The Act aims at regulating the safety, health, welfare and other conditions of service of the construction workers through the State Welfare Boards (SWBs) in every State/UT [March 25, 2021] ReadMore

COMPETITION LAW

  • Federal Trade Commission (FTC) announces multilateral working group to build a new approach to Pharmaceutical Mergers [March 16, 2021] ReadMore
  • Federal Trade Commission (FTC) obtains Court order banning Work-From-Home scammer from selling business opportunities and using Robocalls [March 16, 2021] ReadMore
  • Competition Commission of India (CCI) issues order against three suppliers for rigging bids in tender floated by Pune Zilla Parishad for procurement of Picofall-cum-Sewing Machine [March 17, 2021] ReadMore
  • Competition Commission of India (CCI) approves acquisition of 51% of the equity share capital of North Eastern Electricity Supply Company of Odisha (NESCO Utility) by The Tata Power Company Limited (TPCL) from Grid Corporation of Odisha Limited (GRIDCO) under Section 31(1) of the Competition Act, 2002 [March 19, 2021] ReadMore
  • Mobile Banking App settles Federal Trade Commission (FTC) allegations that it misled users about access to funds and Interest Rates [March 29, 2021] ReadMore

ENERGY

  • Goa Government signs renewable energy Memorandum of Understanding (MOU) with German company [March 22, 2021] ReadMore
  • Bharat Petroleum Corporation Ltd (BPCL) dealers seek exit window before privatization [March 31, 2021] ReadMore
  • Global wind capacity need to at least double every year to limit Warming-Global Wind Energy Council (GWEC) [March 25, 2021] ReadMore

NEWS

  • Government, Reserve Bank of India (RBI) share similar policy stand on crypto [March 16, 2021] ReadMore
  • Supreme Court (SC) terms cancellation of 3 crore ration cards as serious, seeks replies from Centre, states [March 17, 2021] ReadMore
  • Devise gender sensitisation courses for lawyers, judges: Supreme Court (SC) [March 18, 2021] ReadMore
  • Central Bureau of Investigation (CBI) conducts surprise checks at Government offices across country in Anti-Corruption Drive [March 19, 2021] ReadMore
  • Facebook is working on 'kid-friendly' Instagram for children under age 13 [March 20, 2021] ReadMore

Disclaimer “This information has been gathered from various sources. Nothing herein is or may be construed as legal advice”.