BANKING AND FOREIGN EXCHANGE

• The Reserve Bank of India (RBI) has by way of a notification bearing reference RBI/2019-20/121 dated December 23, 2019 issued, Review of Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT121AE85753EDEB54A4EA96577156E56CADC.PDF
• The Reserve Bank of India (RBI) has issued a notification bearing reference RBI/2019-20/123 dated December 24, 2019 in relation to Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs upto ₹ 10,000/- with loading only from bank account.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT123BFC256226BC34E5983A1C842BF0C72EB.PDF
• The Reserve Bank of India (RBI) has issued a notification bearing reference RBI/2019-20/124 dated December 26, 2019 in relation to formation of new Union Territory of Jammu and Kashmir and Union Territory of Ladakh - Assignment of UTLBC Convenorship.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT1243B252442877E480386C2D826B44E042A.PDF
• The Reserve Bank of India (RBI) has issued a notification bearing reference RBI/2019-20/126 dated December 30, 2019 in relation to Enhancing Facilitation of National Electronic Toll Collection (NETC) System.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT12698B289EEDD39496DBB645C025AE3E215.PDF
• The Reserve Bank of India (RBI) has released draft circular on Limits on Exposure to Single and Group Borrowers/Parties and Large Exposures and Revision in Priority Sector Lending Targets for UCBs.
  For more information, please access –
  https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR1541A31B4727AC7B401A9FC1859EDD065AE1.PDF

LABOUR LAWS

• The Minister for Micro, Small and Medium Enterprises and Road Transport & Highways, Shri Nitin Gadkari has approved the changes in the Interest Subvention Scheme for MSMEs, in a meeting held today to review the functioning of the scheme. The Interest Subvention Scheme for MSMEs was launched by the Prime Minister Shri Narendra Modi in November, 2018. The modifications in operational guidelines carried out are based on suggestions made by various stakeholders, including banks and lending institutions who had brought to light operational difficulties which were hindering a smooth rollout of the scheme [December 16, 2019]
  For more information, please access –
  https://pib.gov.in/PressReleseDetail.aspx?PRID=1596661

COMPETITION LAW

• Federal Trade Commission (FTC) sends additional refund checks to Consumers who bought LeanSpa Products. The FTC and the State of Connecticut sued the marketers of LeanSpa in December 2011, charging that they used fake websites to promote acai berry and “colon cleanse” weight-loss products, and falsely told consumers they could receive free trials by paying a nominal shipping and handling cost. In reality, consumers paid $79.95 for the trial, and for recurring monthly shipments of the product that were hard to cancel. The LeanSpa marketers settled the complaint in 2014, agreeing to stop their allegedly deceptive practices and surrender assets for consumer redress. [December 16, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/12/ftc-sending-additional-refund-checks-consumers-who-bought-leanspa
• Court Orders Operators of Deceptive rental listing Websites to Pay $6 Million, and permanently bans them from offering Rental Listings [December 16, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/12/court-orders-operators-deceptive-rental-listing-websites-pay-6
• Federal Trade Commission (FTC) finalizes settlement with Company that Misled Consumers about how it Accesses and Uses their Email [December 17, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/12/ftc-finalizes-settlement-company-misled-consumers-about-how-it
• Federal Trade Commission (FTC) grants final approval to Settlement with Former Cambridge Analytica CEO, App Developer over allegations they deceived Consumers over Collection of Facebook Data [December 18, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/12/ftc-grants-final-approval-settlement-former-cambridge-analytica
• Federal Trade Commission (FTC) State of Maine File Contempt Action against Dietary Supplement Marketers [December 18, 2019]
  For more information, please access –
  https://www.ftc.gov/news-events/press-releases/2019/12/ftc-state-maine-file-contempt-action-against-dietary-supplement

ENERGY

• Government reportedly sets up expert panel to resolve oil and gas disputes [December 26, 2019]
  For more information, please access –ReadMore
• Further to the Government’s commitment for ‘Ease of doing business’, the Ministry of Coal has decided to simplify the process of clearance for Coal Mining Projects. This is intended to not only expedite operationalization of already allotted coal blocks, but also encourage prospective investors/bidders in future auctions [December 16, 2019]
  For more information, please access –
  https://pib.gov.in/PressReleseDetail.aspx?PRID=1596661

NEWS

• Supreme Court (SC) reportedly issues notice to Government on Anti-CAA Petitions [December 19, 2019]
  For more information, please access –ReadMore
• National Stock Exchange (NSE) joins hands with Gujarat Government to promote Micro, Small and Medium Enterprises (MSME) [December 20, 2019]
  For more information, please access –ReadMore
• Apple reportedly has a team working on satellites to beam data to devices [December 21, 2019]
  For more information, please access –ReadMore
• The Securities and Exchange Board of India (SEBI) puts in place stewardship code for mutual funds, AIFs [December 25, 2019]
  For more information, please access –ReadMore
• Labour Ministry reportedly moots social security fund linked to Corporate social responsibility (CSR) norms [December 26, 2019]
  For more information, please access –ReadMore
• The Securities and Exchange Board of India (SEBI) bans investment advisors from providing free trials. SEBI has reportedly said that investment advice can be given after completing risk profiling of the client and ensuring the suitability of the product. [December 27, 2019]
  For more information, please access –ReadMore