In this edition we have tried to bring you notice the latest amendment that followed in the month of January, 2023 issued by MCA, RBI and SEBI others.
RBI Update
Changes in Bank KYC Norms
In the latest guideline, the RBI said that Bank account holders who have already submitted valid documents and haven’t changed their addresses are no longer obliged to visit their bank locations to update their “know your customer” (KYC) information, according to the RBI. They can instead submit a self-declaration through an email address, a registered mobile number, ATMs, or any other digital channel if there hasn’t been a change in their KYC information. Read more at: https://www.dnaindia.com/personal-finance/report-rbi-new-rules-bank-account-holders-not-required-to-visit-bank-branch-to-update-kyc-know-new-rbi-guidelines-3015428
SEBI Update
Amendment in Alternative Investment Funds Norms
Under the new rules, the SEBI said Category 1 AIFS may engage in hedging, including credit default swaps. Further, Category II and Category III AIFS may buy or sell credit default instruments. The sponsor or manager of the Category I and Category I AIF transacting in credit default swaps will have to appoint a custodian registered with the SEBI, according to a notification. Read more at: https://m.economictimes.com/markets/stocks/news/sebi-amends-rules-for-alternative-investment-funds/articleshow/96888868.cms
Information database on municipal bonds
Markets regulator SEBI has launched an information database on municipal bonds to develop the bond markets, an outreach programme on municipal bonds and municipal finance. Read more at:https://economictimes.indiatimes.com/markets/bonds/sebi-launches-information-database-on-municipal-bonds/articleshow/97225388.cms?from=mdr
MSME Update
Udyam Assist Platform A new platform has been launch to boost registration of informal micro units in the country into the formal fold and enable them for priority sector lending. Read more at: https://www.financialexpress.com/industry/sme/msme-eodb-udyam-assist-platform-msme-min-launches-new-platform-to-boost-registration-of-informal-micro-enterprises/2946174/