BANKING AND FOREIGN EXCHANGE

• The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/44 A.P. (DIR Series) Circular No. 06 dated August 16, 2019 in relation Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019 whereby Sub-regulation (3) of Regulation 6 of the Foreign Exchange Management (Deposit) Regulations, 2016, in terms of which a Company may accept deposits through issue of Commercial Paper (CP), has been reviewed vis-à-vis other Statutes/Regulations – notably Section 45 U(b) of RBI Act, 1934 describing CP as one of the Money Market Instruments and Section 2(c) of Companies (Acceptance of Deposits), Rules 2014 which excludes any amount received against issue of, inter alia, CPs from definition of deposits.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT44FE210817A13946D18FA6AEB30C37811E.PDF
• The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/46 dated August 21, 2019 in relation Real Time Gross Settlement (RTGS) System – Increase in operating hours
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/RTGS5B5C98ED79A046E7AA23E3B6A04D5FCC.PDF
• The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/47 dated August 21, 2019 in relation to Processing of e-mandate on cards for recurring transactions.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/47EMANDATE39D1306C26AE4B44B2EA0050F23E7E3D.PDF
• The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/50 dated August 29, 2019 in relation Cash Withdrawal at Points-of-Sale (PoS) Devices
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT501128BF0B6E244738AA31F54BD5D436B8.PDF
• The Reserve Bank of India (RBI) has issued a notification RBI/2019-20/51 dated August 30, 2019 in relation Amendment to Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs)
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT5175A20594BCD648929DD470D875B9F264.PDF

LABOUR LAW

• Ministry of Corporate Affairs issues circular to remove doubts/ambiguities in ‘appointed date’ and ‘acquisition date’ with respect to mergers/amalgamations [August 21, 2019]
  For more information, please access –
  http://pib.gov.in/PressReleseDetail.aspx?PRID=1582594
• Ministry of Labour & Employment approved Central Board of Trustees (CBT) proposal to recommend Amendment in EPS 1995 [August 22, 2019]
  For more information, please access –
  http://pib.gov.in/PressReleseDetail.aspx?PRID=1582594

COMPETITION LAW

• Competition Commission of India (CCI) introduces Green Channel clearance for Merger & Acquisitions [August 19, 2019]
  For more information, please access –
  https://www.cci.gov.in/sites/default/files/press_release/PR82019-20.pdf
• The Federal Trade Commission (FTC) approves final consent orders with Five Companies that allegedly violated the Consumer Review Fairness Act [August 16, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/08/ftc-approves-final-consent-orders-five-companies-allegedly
• Promoters of Deceptive Chain Referral Schemes involving Cryptocurrencies agree to Settlement with the Federal Trade Commission (FTC) [August 22, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/08/promoters-deceptive-chain-referral-schemes-involving

ENERGY

• Ministry of New and Renewable Energy Power Minister Shri RK Singh approves proposal to declare ocean energy as Renewable Energy [August 22, 2019]
  For more information, please access –
  https://pib.gov.in/newsite/pmreleases.aspx?mincode=28

NEWS

• The Securities and Exchange Board of India (SEBI) brings in stricter norms on disclosure lapses [August 19, 2019]
  For more information, please access –
  https://economictimes.indiatimes.com/markets/stocks/news/sebi-brings-in-stricter-norms-on-disclosure-lapses/articleshow/70742045.cms
• Supreme Court (SC) allows Madras High Court to hear social media-Aadhaar linkage matter concerning Facebook [August 20, 2019]
  For more information, please access –
  https://economictimes.indiatimes.com/tech/internet/sc-allows-madras-high-court-to-hear-social-media-aadhaar-linkage-matter-concerning-facebook/articleshow/70752940.cms
• Labour code on mandatory minimum wages notified [August 23, 2019]
  For more information, please access –
  https://economictimes.indiatimes.com/small-biz/policy-trends/labour-code-on-mandatory-minimum-wages-notified/articleshow/70783691.cms
• Government reconstitutes National Statistical Commission [August 23, 2019]
  For more information, please access –
  https://economictimes.indiatimes.com/news/economy/policy/government-reconstitutes-national-statistical-commission/articleshow/70808677.cms