In this edition we have tried to bring you notice the latest amendmentCirculars that followed in the month of December, 2022 issued by MCA, RBI, SEBI, DIPP and others.
- Circular by SEBI:
Introduction of Investor Risk Reduction Access (IRRA) platform in case of disruption of trading services provided by the Trading Member (TM) .
Capital markets regulator has introduced an Investor Risk Reduction Access (IRRA) platform in respect of disruption of trading services provided by the Trading Member (TM) with effect from 30th December, 2022. There are many issue raised in securities market like dependence on technology which ultimately rise in instances of glitches in trading members’ systems, some of which lead to disruption of trading services and investor complaints. In such instances, investors with open positions are at risk of non-availability of avenues to close their positions, particularly if markets are volatile. So, SEBI provide a platform to the Investor.
To read more:
- FEMA:
FEMA Foreign Investment in India – Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal (January 04, 2023)
The Reserve Bank of India has issued notification for rationalisation of reporting in SMF on FIRMS Portal. It is advised that the following changes are being implemented with respect to the reporting of foreign investment in SMF on FIRMS portal: i. The forms submitted on the portal will be auto-acknowledged. The AD banks shall verify the same within five working days based on the uploaded documents, as specified. ii. In cases of delayed reporting, the AD banks shall either advise the Late Submission Fee (LSF) to the applicants, which will be computed by the system or advise for compounding of contravention, as the case may be. For detailed guidelines, the FIRMS manual available at https://firms.rbi.org.in may be referred to, and the version of manual available at the portal will have the finality in case of any mismatch.
For details:
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12433&Mode=0
- Technology and Automation IIT Roorkee and AIIMS Delhi develop SwasthGarbh app for pregnant women (December 27, 2022)
Under the Prime Minister Swasth Bharat Mission, researchers at IIT Roorkee have developed a new application for pregnant women called ‘SwasthGarbh’. The new app is designed to provide antenatal care and real-time medical support to pregnant women. While there are a lot of apps to help women during pregnancy, most of these provide only pregnancy-related information and lack the involvement of professional clinicians. In contrast, SwasthGarbh is the first pregnancy app that gives users access to a doctor when needed. Available for free on the Google Play Store, the app can assist pregnant women with hospital visits by reminding them when they are due and what tests they have to go through and supports various languages.