Daily Updates May-2022

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MCA notifies Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2022

Brief Details	The Ministry of Corporate Affairs, in the exercise of its powers conferred by sub-sections (1) and (2) of section 469 read with sections 230 to 240 of the Companies Act, 2013 amend the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 namely Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2022.
Change Type	Notification
State	Central
Effective Date	30-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/236112.pdf

SEBI issues Circular for Modification in Cyber Security and Cyber resilience framework of KYC Registration Agencies (KRAs)

Brief Details	The Securities and Exchange Board of India issues Circular for the Modification in Cyber Security and Cyber resilience framework of KYC Registration Agencies (KRAs). All KRAs are directed to communicate the status of the implementation of the provisions of this circular to SEBI within 10 days from the date of this Circular. [SEBI/HO/MIRSD/DoP/P/CIR/2022/74]
Change Type	Circular
State	Central
Effective Date	30-May-2022
Source	https://www.sebi.gov.in/legal/circulars/may-2022/modification-in-cyber-security-and-cyber-resilience-framework-of-kyc-registration-agencies-kras-_59318.html

SEBI issues Circular for Processing of ASBA applications in Public Issue of Equity Shares and Convertibles

Brief Details	The Securities and Exchange Board of India issues Circular for Processing of ASBA applications in Public Issue of Equity Shares and Convertibles. All stakeholders involved in the process are advised to take necessary steps to ensure compliance with this circular. [SEBI/HO/CFD/DIL2/P/CIR/2022/75]
Change Type	Circular
State	Central
Effective Date	01-September-2022
Source	https://www.sebi.gov.in/legal/circulars/may-2022/processing-of-asba-applications-in-public-issue-of-equity-shares-and-convertibles_59338.html

SEBI issues Circular for Standard Operating Procedures (SOP) for dispute resolution under the Stock Exchange arbitration mechanism for disputes between a Listed Company and/or Registrars to an Issue and Share Transfer Agents (RTAs) and its Shareholder(s)/Investor(s)

Brief Details	The Securities and Exchange Board of India issues Circular for the Standard Operating Procedures (SOP) for dispute resolution under the Stock Exchange arbitration mechanism for disputes between a Listed Company and/or Registrars to an Issue and Share Transfer Agents (RTAs) and its Shareholder(s)/Investor(s). This Circular is being issued to protect the interests of investors in securities and to promote the development of, and to regulate the securities market read in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992. [SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/76]
Change Type	Circular
State	Central
Effective Date	01-June- 2022
Source	https://bit.ly/3lVLRUY

Government of Uttar Pradesh notifies the Night Shift for Women workers under the Factories Act, 1948

Brief Details	The Government of Uttar Pradesh in exercise of powers under proviso to clause(b) of sub section (1) of section-66 of the Factories Act, 1948 exempt all the Factories of the state in respect of employment of women workers.
Change Type	Notification
State	Uttar Pradesh
Effective Date	27-May- 2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-12.pdf

CDSL notifies Annual Bill for the Financial year 2022-23

Brief Details	The Central Depository Services (India) Limited notifies the Annual Bill for the financial year 2022-23. DPs are advised to ensure that their dues are paid by June 21, 2022.
Change Type	Notification
State	Central
Effective Date	21-June-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-6-8.pdf

Government of Himachal Pradesh notifies The Himachal Pradesh Minimum Wages

Brief Details	The Government of Himachal Pradesh, notifies the Himachal Pradesh Minimum Wages under the Minimum Wages Act, 1948. [Shram(A)4-2/2018-P-II]
Change Type	Notification
State	Himachal Pradesh
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-7-9.pdf

Ministry of Labour and Employment notifies Extension of ESI provisions in Andaman and Nicobar Islands

Brief Details	The Ministry of Labour and Employment, in exercise of the powers conferred by sub-section (5) of section 1 of the Employees’ State Insurance Act, 1948 hereby extends the provisions of the said Act to the classes of establishments specified. [F. No. S-38025/03/2021-SS-I]
Change Type	Notification
State	Andaman and Nicobar
Effective Date	01-June-2022
Source	https://egazette.nic.in/WriteReadData/2022/236118.pdf

CBDT notifies Faceless Penalty Order 2022

Brief Details	The Central Board of Direct Taxes, in exercise of the powers conferred by sub-section (2B) of section 274 of the Income-tax Act, 1961 and in consequence to the amendments made in section 144B of the Act vide the Finance Act, 2022, for the purposes of giving effect to the Faceless Penalty (Amendment) Scheme, 2022 made under sub-section (2A) of section 274 of the Act.
Change Type	Notification
State	Central
Effective Date	27-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/236050.pdf

CBDT notifies Faceless Penalty (Amendment) Scheme, 2022.

Brief Details	The Central Board of Direct Taxes, in exercise of the powers conferred by sub-section (2A) of section 274 of the Income-tax Act, 1961 makes the following Scheme to amend the Faceless Penalty Scheme, 2021, namely Faceless Penalty (Amendment) Scheme, 2022. [Notification No. 54/2022/F. No. 370142/51/2020-TPL(Part III)]
Change Type	Notification
State	Central
Effective Date	27-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/236054.pdf

MCA issues Circular for Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) by Limited Liability Partnerships up to 30th June, 2022

Brief Details	The Ministry of Corporate Affairs issues Circular for Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) by Limited Liability Partnerships up to 30th June, 2022.
Change Type	Circular
State	Central
Effective Date	30-June-2022
Source	https://www.mca.gov.in/bin/dms/getdocument?mds=bPU6zFGIKpt0gBxXLV99nw%253D%253D&type=open

SEBI issues Circular for Modification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default

Brief Details	The Securities and Exchange Board of India issues Circular for the Modification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default. [SEBI/HO/MIRSD/DPIEA/CIR/P/2022/72]
Change Type	Circular
State	Central
Effective Date	27-May- 2022
Source	https://bit.ly/3t0VLIH

SEBI issues Circular for Modification in Cyber Security and Cyber resilience framework of Qualified Registrars to an Issue and Share Transfer Agents (“QRTAs”)

Brief Details	The Securities and Exchange Board of India issues Circular for the Modification in Cyber Security and Cyber resilience framework of Qualified Registrars to an Issue and Share Transfer Agents (“QRTAs”). All QRTAs are directed to communicate the status of the implementation of the provisions of this circular to SEBI within 10 days from the date of this Circular. [SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/73]
Change Type	Circular
State	Central
Effective Date	27-May- 2022
Source	https://bit.ly/3NDkZF0

NSE issues Circular for Registration on FIU-IND’s FINnet Gateway

Brief Details	The National Stock Exchange of India Limited, issues Circular for registration on FINnet Gateway Portal to submit the reports and exchange information with FIU-IND. [No: 36/2022]
Change Type	Circular
State	Central
Effective Date	27-May-2022
Source	https://archives.nseindia.com/content/circulars/INSP52438.pdf

NSE issues Circular for Reminder for Submission of Risk Based Supervision Data for the FY 2021-22

Brief Details	The National Stock Exchange of India Limited, issues Circular for Reminder for Submission of Risk Based Supervision Data for the FY 2021-22. Submission is to be made electronically through the Inspection module in the Member Portal on or before due date to avoid any penal charges. [37/2021]
Change Type	Circular
State	Central
Effective Date	31-May-2022
Source	https://archives.nseindia.com/content/circulars/INSP52442.pdf

MCX issues Circular for Reminder for Submission of Half Yearly Networth Certificate as on March 31, 2022

Brief Details	The Multi Commodity Exchange issues Circular for Reminder for Submission of Half Yearly Networth Certificate as on March 31, 2022. Members who have not yet uploaded their Half Yearly Net worth certificate are advised to submit the same on or before the due date i.e. May 31, 2022 in the prescribed format on Exchange portal https://member.mcxindia.com . [MCX/MEM/311/2022]
Change Type	Circular
State	Central
Effective Date	31-May-2022
Source	https://bit.ly/3N4FLOa

CDSL notifies Registration of the Reporting Entities (REs) in FINNET 2.0 System of FIU-IND

Brief Details	The Central Depository Services (India) Limited notifies registration of the Reporting Entities (REs) in FINnet 2.0 system from 19.01.2022 and requested to take up the matter with all the registered Depository Participants for registration in FINnet 2.0 system. [CDSL/OPS/DP/POLCY/2022/288]
Change Type	Notification
State	Central
Effective Date	19-January-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-9-10.pdf

IRDAI issues Circular for Modifications in definition of Critical Illnesses prescribed in Guidelines on Standardization in Health Insurance

Brief Details	The Insurance Regulatory and Development Authority of India issues Circular on Modifications in definition of Critical Illnesses prescribed in Guidelines on Standardization in Health Insurance. [IRDAI/HLT/REG/CIR/104/5/2022]
Change Type	Circular
State	Central
Effective Date	27-May-2022
Source	https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo4716&flag=1

Government of Uttarakhand notifies paid holiday on account of Bye-Election on 31st May 2022

Brief Details	The Government of Uttarakhand notifies Paid Holiday on 31st May 2022 for all industrial establishments, factories, governing and non-governing bodies, educational institutions, and commercial establishments in Champawat district on account of the bye-election in Legislative Assembly.
Change Type	Notification
State	Uttarakhand
Effective Date	31-05-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-11-7.pdf

CBIC notifies Deposit of tax during the course of search, inspection or investigation

Brief Details	The Central Board of Indirect Taxes and Customs notifies Deposit of tax during the course of search, inspection or investigation. It is clarified that there may not be any circumstances necessitating recovery of tax dues during the course of search or inspection or investigation proceedings.
Change Type	Notification
State	Central
Effective Date	25-May-2022
Source	https://taxinformation.cbic.gov.in/view-pdf/1000419/ENG/Instructions

CBIC notifies to waive off the late fee under section 47 for the period from 01.05.2022 till 30.06.2022 for delay in filing FORM GSTR4

Brief Details	The Central Board of Indirect Taxes and Customs, in exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 notifies the late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year 2021-22 under section 47 of the said Act shall stand waived for the period from the 1st day of May, 2022 till the 30th day of June, 2022. [F. No. CBIC-20006/8/2022-GST]
Change Type	Notification
State	Central
Effective Date	01-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/236035.pdf

RBI notifies Bharat Bill Payment System – Amendment to guidelines

Brief Details	The Reserve Bank of India notifies Bharat Bill Payment System – Amendment to guidelines. As announced in the Statement on Development and Regulatory Policies dated April 08, 2022. The minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to ₹25 crore. [RBI/2022-2023/58]
Change Type	Notification
State	Central
Effective Date	26-May-2022
Source	https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT58DBE6CB8D8B3E4DC9972BFF895602BB64.PDF

NSE issues Circular for Mandatory Insurance Cover for FY 2022-23

Brief Details	The National Stock Exchange of India Limited, issues Circular for Mandatory Insurance Cover for FY 2022-23. Trading Members whose Stock Brokers Indemnity Policy is expiring on May 31, 2022 are required to submit the details for the same through ENIT on or before July 31, 2022. [33/2022]
Change Type	Circular
State	Central
Effective Date	31-July- 2022
Source	https://archives.nseindia.com/content/circulars/COMP52414.pdf

Ministry of Road Transport and Highways notifies the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022.

Brief Details	The Ministry of Road Transport and Highways, in exercise of powers conferred by sub-section (1) of section 147 of the Motor Vehicle Act, 1988 hereby makes the following rules, namely Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022.
Change Type	Notification
State	Central
Effective Date	01-June-2022
Source	https://egazette.nic.in/WriteReadData/2022/236018.pdf

BSE notifies Application Programming Interface (API) for Weekly submission of Holding Statement, Cash and Cash Equivalent and Bank Balances

Brief Details	The Bombay Stock Exchange (BSE) on issues notice on Application Programming Interface (API) for Weekly submission of Holding Statement, Cash and Cash Equivalent and Bank Balances which is a platform for weekly submission of Holding Statement along with Cash and Cash Equivalent and Bank Balances data submission by members. [Notice No. 20220526-6]
Change Type	Notice
State	Central
Effective Date	26-May- 2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220526-6

Ministry of Labour and Employment notifies the Coal Industry to be a public utility service under the Industrial Disputes Act, 1947

Brief Details	The Ministry of Labour and Employment, in exercise of the powers conferred by the proviso to sub-clause (vi) of clause (n) of section 2 of the Industrial Disputes Act, 1947 hereby declares the services engaged in the Coal industry to be a public utility service for the purposes of the said Act for a period of six months with effect from the 27th May, 2022. [F. No. S-11017/3/2018-IR (PL)]
Change Type	Notification
State	Central
Effective Date	27-May- 2022
Source	https://egazette.nic.in/WriteReadData/2022/236036.pdf

SEBI issues Circular for Simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates

Brief Details	The Securities and Exchange Board of India issues Circular for the Simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates. [SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70]
Change Type	Circular
State	Central
Effective Date	25-May-2022
Source	https://bit.ly/3wNj75T

NSDL issues Circular for Registration of the Reporting Entities (REs) in FINnet 2.0 system of FIU-INDIA

Brief Details	The National Securities Depository Limited issued circular for fresh registration of the REs in FINnet 2.0 system from 19.01.2022. Participants are requested to take note of the above and complete registration in FINnet 2.0 system at the earliest.
Change Type	Circular
State	Central
Effective Date	19-January-2022
Source	https://bit.ly/3sXB3tu

CDSL notifies Submission of Net worth certificate & Audited financial statements

Brief Details	The Central Depository Services (India) Limited notifies every depository participant (DP) is required to submit net worth certificate to CDSL every year in the manner prescribed in the Operating Instructions, duly certified by the Statutory Auditors or Practicing Chartered Accountant based on the annual audited accounts, within six months from the last date of its financial year. [CDSL/A,I&C/DP/POLCY/2022/283]
Change Type	Notification
State	Central
Effective Date	30-September- 2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-3-12.pdf

MSE issues Circular for Exclusion of Futures and Options contract on NBCC

Brief Details	The Metropolitan Stock Exchange issues Circular for Exclusion of Futures and Options contract on NBCC. [MSE/TRD/11860/2022]
Change Type	Circular
State	Central
Effective Date	29-July-2022
Source	https://www.msei.in/SX-Content/Circulars/2022/May/Circular-11860.pdf

Government of Odisha notifies Declaration of Paid Holiday To Eligible Employees On Account Of Bye-Election In Odisha on 31^st May 2022

Brief Details	The Government of Odisha notifies all business, trade, industrial undertakings, and establishments to grant paid holiday to eligible employees on 31st May 2022 (Tuesday), on account of the bye-election in Brajarajnagar Assembly Constituency.
Change Type	Notification
State	Odisha
Effective Date	31-May- 2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-11.pdf

CEA notifies Safety Advisory to all Thermal Power Generating Utilities.

Brief Details	The Central Electricity Authority notifies Safety Advisory to all Thermal Power Generating Utilities. Utilities/Plants may also continue to take regular safety measures as per the extant Rules and Regulations in this regard.
Change Type	Notification
State	Central
Effective Date	24-May-2022
Source	https://cea.nic.in/wp-content/uploads/notification/2022/05/Safety_Advisory_to_All_TPPs-1.pdf

Ministry of Communication notifies the categories of telegraph from prior mandatory testing and certification in respect of parameters

Brief Details	The Ministry of Communication In exercise of the powers conferred by the Indian Telegraph Rules, 1951 exempts the following categories of telegraph from prior mandatory testing and certification in respect of parameters as determined by the said authority. [F. No. 6-8/2020-TC/TEC]
Change Type	Notification
State	Central
Effective Date	24-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235997.pdf

MCX issues Circular for Clarification on Margin collection & reporting

Brief Details	The Multi Commodity Exchange issues Circular for Clarification on Margin collection & reporting. The members are not permitted to pass on the penalty levied by clearing corporations on account of “short/non-collection of upfront margins” to clients under any circumstances. [MCX/INSP/303/2022]
Change Type	Circular
State	Central
Effective Date	21-October-2021
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-303-2022.pdf?sfvrsn=89c41091_0

MSE issues Circular for submission of Internal Audit Report and Risk Based Supervision for the year ended March 31, 2022 – Reminder

Brief Details	The Metropolitan Stock Exchange issues Circular for submission of Internal Audit Report and Risk Based Supervision for the year ended March 31, 2022. Members are reminded to submit the mentioned submission through web based application on or before May 31, 2022 to avoid any penal charges/disciplinary action for the non/late submission of the report. [MSE/INSP/11855/2022]
Change Type	Circular
State	Central
Effective Date	31-May-2022
Source	https://www.msei.in/SX-Content/Circulars/2022/May/Circular-11855.pdf

Government of Kerala notifies paid holiday on account of election on 31^st May 2022

Brief Details	The Government of Kerala notifies paid holiday on account of election on 31st May 2022 under Shops and Commercial Establishments Act, 1960.
Change Type	Notification
State	Kerala
Effective Date	31-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-4-11.pdf

RBI notifies Housing Finance – Loans for repairs/additions/alterations – Enhancement of limits

Brief Details	The Reserve Bank of India notifies Housing Finance – Loans for repairs/additions/alterations – Enhancement of limits. The ceiling on such loans is now revised to ₹10 lakh in metropolitan centres (those centres with population of 10 lakh and above) and ₹6 lakh in other centres.
Change Type	Notification
State	Central
Effective Date	24-May-2022
Source	https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT5601B310BAFFA0464F9164FDE854402564.PDF

BSE issues Circular for Streamlining the Process of Rights Issue

Brief Details	The Bombay Stock Exchange issues a Circular for Streamlining the Process of Rights Issue notified by SEBI. All Listed companies are requested to take note and comply accordingly. [20220520-1]
Change Type	Notice
State	Central
Effective Date	19-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220520-1

BSE issues Notice for Simplification of procedure and standardization of formats of documents for transmission of securities

Brief Details	The Bombay Stock Exchange issues notice for Simplification of procedure and standardization of formats of documents for transmission of securities. All Listed companies are requested to take note and comply accordingly.[ 20220520-2]
Change Type	Notice
State	Central
Effective Date	18-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220520-2

BSE issues Notice for Revised format of security cover certificate, monitoring and revision in timelines

Brief Details	The Bombay Stock Exchange issues notice for specified format of security cover certificate, periodical monitoring and disclosures by Debenture Trustee(s) and the requirement of creation of “Recovery Expense Fund” (REF).[ 20220520-4]
Change Type	Notice
State	Central
Effective Date	19-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220520-4

MCX issues Circular for Submission of Internal Audit Report and data pertaining to Risk Based Supervision

Brief Details	The Multi Commodity Exchange issues Circular for Submission of Internal Audit Report and data pertaining to Risk Based Supervision. Members are reminded to submit on or before May 31, 2022 in the prescribed format on the Exchange Portal https://member.mcxindia.com
Change Type	Circular
State	Central
Effective Date	31-May-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-300-2022.pdf?sfvrsn=b5011791_0

Government of National Capital Territory of Delhi notifies for revision of The Delhi Minimum Wages Notification (April 2022)

Brief Details	The Government of National Capital Territory of Delhi notifies for revision of the minimum wages including variable dearness allowance, effective from 1st April 2022.[ F.No.12(142)/02/MW/VII/Partfile/2618-2641]
Change Type	Notification
State	Delhi
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-10.pdf

SEBI issues Circular on Development of Passive Funds

Brief Details	The Securities and Exchange Board of India in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulation, 1996, issues Circular on Development of Passive Funds. The provisions of this Circular shall come into force with effect from July 01, 2022 and shall also be applicable to all existing ETFs/ Index Funds.
Change Type	Circular
State	Central
Effective Date	01-July-2022
Source	https://www.sebi.gov.in/legal/circulars/may-2022/circular-on-development-of-passive-funds_59098.html

IRDAI issues Circular for Revision of Health Insurance Regulatory Returns

Brief Details	The Insurance Regulatory and Development Authority of India issues Circular on Revision of Health Insurance Regulatory Returns. These norms are applicable with immediate effect and are applicable to all returns to be filed for FY 2021-22 onwards. [IRDAI/HLT/CIR/MISC/102/5/2022]
Change Type	Circular
State	Central
Effective Date	23-May-2022
Source	https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo4710&flag=1

MCA notifies Companies (Incorporation) Second Amendment Rules, 2022

Brief Details	The Ministry of Corporate Affairs, in the exercise of its powers under Companies Act 2013 amends the Companies (Incorporation) Rules, 2014, namely the Companies (Incorporation) Second Amendment Rules,2022.
Change Type	Notification
State	Central
Effective Date	01-June-2022
Source	https://egazette.nic.in/WriteReadData/2022/235912.pdf

Government of Chandigarh notifies for revision of minimum rate of wages for various employments

Brief Details	The Government of Chandigarh notifies for revision of minimum rate of wages for various employments w.e.f 01.04.2022 to 30.09.2022 under the Minimum Wages Act,1948.
Change Type	Notification
State	Chandigarh
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-2-7.pdf

Government of Meghalaya notifies for revision of Minimum wages payable to 29 scheduled employments

Brief Details	The Government of Meghalaya notifies for the revision of Minimum wages payable to the employee under 29 scheduled employments under the Minimum Wages Act, 1948.
Change Type	Notification
State	Central
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-3-11.pdf

NSDL issues Circular for Amendments to Bye Laws and Business Rules of NSDL dated 20^th May 2022

Brief Details	The National Securities Depository Limited issued circular for Amendments to Bye Laws and Business Rules of NSDL regarding imposition of penalty on Trading member / Clearing Member / Portfolio Manager for not operating its CM, TM or Portfolio Manager Account in the specified manner..
Change Type	Circular
State	Central
Effective Date	20-May-2022
Source	https://bit.ly/38E49Ht

The RBI notifies the average Cash Reserve Ratio (CRR) required to be maintained by every bank

Brief Details	The Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every bank shall be 4.50 per cent of its net demand and time liabilities effective from the reporting fortnight beginning May 21, 2022.
Change Type	Notification
State	Central
Effective Date	21-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235902.pdf

The SEBI issues Circular for Modification in Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporations and Depositories

Brief Details	The Securities and Exchange Board of India issues circular for the Modification in Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporations and Depositories. [SEBI/HO/MRD1/MRD1_DTCS/P/CIR/2022/68]
Change Type	Circular
State	Central
Effective Date	20-May-2022
Source	https://bit.ly/3LF38fz

The Government of Karnataka notifies the Karnataka Goods and Services Tax Act, 2017 in FORM GST PMT-06

Brief Details	The Government of Karnataka In exercise of the powers conferred by sub-rule (3) of rule 61 of the Karnataka Goods and Services Tax Rules, 2017. , the due date for depositing the tax due under proviso to sub-section (7) of section 39 of the Karnataka Goods and Services Tax Act, 2017 in FORM GST PMT-06 for the month of April, 2022 is extended till the 27th day of May, 2022.
Change Type	Notification
State	Karnataka
Effective Date	27-May-2022
Source	https://erajyapatra.karnataka.gov.in/WriteReadData/2022/4157.pdf

The Government of Karnataka notifies the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022

Brief Details	The Government of Karnataka In exercise of the powers conferred by sub-section (6) of section 39 of the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017) read with sub-rule (1) of rule 61 of the Karnataka Goods and Services Tax Rules, 2017, the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022 is extended till the 24th day of May, 2022.
Change Type	Notification
State	Karnataka
Effective Date	24-May-2022
Source	https://erajyapatra.karnataka.gov.in/WriteReadData/2022/4156.pdf

RBI updates Master Direction on Financial Statements – Presentation and Disclosures

Brief Details	The Reserve Bank of India, in the exercise of its powers conferred under section 35A and section 56 of the Banking Regulation Act, 1949, updates Master Direction on Financial Statements – Presentation and Disclosures.
Change Type	Master Direction
State	Central
Effective Date	19-May-2022
Source	https://bit.ly/382E2tp

RBI issues Notification for New Definition of Micro, Small and Medium Enterprises- clarification

Brief Details	The Reserve Bank of India, notifies new definition for Micro, Small and Medium Enterprises- clarification. [RBI/2022-23/52]
Change Type	Notification
State	Central
Effective Date	19-May-2022
Source	https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT5221B04452DA204B719D6C51CB7FF3C763.PDF

SEBI issues Circular for Revised format of security cover certificate, monitoring and revision in timelines

Brief Details	The Securities and Exchange Board of India, issues Circular for the revised format to provide a Revised format of security cover certificate, monitoring and revision in timelines.[SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67]
Change Type	Circular
State	Central
Effective Date	19-May-2022
Source	https://www.sebi.gov.in/legal/circulars/may-2022/revised-format-of-security-cover-certificate-monitoring-and-revision-in-timelines_59051.html

SEBI issues Circular for Streamlining the Process of Rights Issue

Brief Details	The Securities and Exchange Board of India issues a Circular for minimum time period between closure of trading in Right Entitlements on stock exchange platform and closure of the rights issue, which requires trading in REs on the secondary market platform of stock exchanges commence along with the opening of the rights issue and has to be closed at least four days prior to the closure of the rights issue.
Change Type	Circular
State	Central
Effective Date	19-May-2022
Source	https://www.sebi.gov.in/legal/circulars/may-2022/streamlining-the-process-of-rights-issue_59023.html

Government of Telangana notifies The Telangana Minimum Wages Notification (April 2022)

Brief Details	The Commissioner of Labour Telangana, Hyderabad under the Minimum Wages Act, 1948 has declared the CPI points for calculation of variable dearness allowance for the state of Telangana. It is applicable to 1^st April 2022 to 30^th September 2022.
Change Type	Notification
State	Telangana
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-9.pdf

Government of Haryana notifies The Punjab Shops and Commercial Establishments (Haryana Amendment) Rules, 2022

Brief Details	The Government of Haryana, in exercise of powers conferred by Sub-section (1) read with Sub-section (2) of Section 34 of the Punjab Shops and Commercial Establishments Act, 1958 (Punjab Act 15 of 1958), hereby makes the following rules further to amend the Punjab Shops and Commercial Establishments Rules, 1958 in their application to the State of Haryana, namely Punjab Shops and Commercial Establishments (Haryana Amendment) Rules, 2022.
Change Type	Notification
State	Haryana
Effective Date	17-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-6-7.pdf

Ministry of Micro, Small And Medium Enterprises notifies the Micro, Small and Medium Enterprises Development (Furnishing of Information) (Amendment) Rules, 2022

Brief Details	The Ministry of Micro, Small And Medium Enterprises, in exercise of the powers conferred by clause (e) of sub-section (2) of section 29 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), hereby makes the following amendments in the Micro, Small and Medium Enterprises Development (Furnishing of Information) Rules, 2016, namely Micro, Small and Medium Enterprises Development (Furnishing of Information) (Amendment) Rules, 2022.
Change Type	Notification
State	Central
Effective Date	19-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235867.pdf

SEBI issues a Circular for simplification of procedure and standardization of formats of documents for transmission of securities pursuant to amendments to the Securities and the Exchange Board of India

Brief Details	The Securities and exchange Board of India issues a Circular for Simplification of procedure and standardization of formats of documents for transmission of securities pursuant to amendments to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Change Type	Circular
State	Central
Effective Date	18-May-2022
Source	https://bit.ly/3Pv1jF9

NSE issues Circular for Guidelines for seeking NOC by stock brokers / Clearing members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC

Brief Details	The National Stock Exchange of India Limited, issues Circular for seeking NOC by stock broker/ Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC issued by SEBI
Change Type	Circular
State	Central
Effective Date	18-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-2-6.pdf

MCX issues Circular for New Trading Interface

Brief Details	The Multi Commodity Exchange, issues Circular for Changes a new commodity derivative platform. Pursuant to the same, there would be changes in the interfaces. Trading Members and Empanelled vendors are requested to note that, the Exchange has released new MCX FIX API (Application Programing Interface), which will be in effect once the new trading platform is live [MCX/CTCL/291/2022].
Change Type	Circular
State	Central
Effective Date	18-May-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-291–2022.pdf?sfvrsn=94d91791_0

CDSL issues Circular for amendments to DP operating instructions

Brief Details	The Central Depository Services (India) Limited issues a Circular for amendments to DP operating instructions . DPs are advised to note that amendments have been effected in CDSL’s DP Operating Instructions, to incorporate the procedure to be followed for rectification of erroneously transferred securities which includes submission of prescribed documents by the DP.
Change Type	Circular
State	Central
Effective Date	17-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-4-10.pdf

MSE issues Circular for System Audit of Stock Brokers / Trading members

Brief Details	The Metropolitan Stock Exchange issues a Circular for guidelines for system audit of stock brokers / trading members. The stock brokers / trading members using trading software are required to conduct system audit of their systems and submit system audit report in accordance with the system audit guidelines which includes system audit process, auditor selection norms, Terms of Reference (ToR) issued by SEBI and Exchange.
Change Type	Circular
State	Central
Effective Date	18-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-8.pdf

MOHFW notifies the Drugs (Fourth Amendment) Rules, 2022

Brief Details	The Ministry of Health and Family Welfare, in exercise of the powers conferred by sections 12 and 33 of the Drugs and Cosmetics Act, 1940, hereby makes the rules further to amend the Drugs Rules, 1945, namely the Drugs (Fourth Amendment) Rules, 2022.
Change Type	Notification
State	Central
Effective Date	01-Nov-2022
Source	https://egazette.nic.in/WriteReadData/2022/235838.pdf

MOHFW notifies the Medical Devices (Third Amendment) Rules, 2022

Brief Details	The Ministry of Health and Family Welfare in exercise of the powers conferred by sections 12 and 33 of the Drugs and Cosmetics Act, 1940, hereby makes the following rules further to amend the Medical Devices Rules, 2017, namely Medical Devices (Third Amendment) Rules, 2022.
Change Type	Notification
State	Central
Effective Date	18-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235837.pdf

CBIC extends due date of filing FORM GSTR-3B for the month of April 2022

Brief Details	The Central Board of Indirect Taxes and Customs, in exercise of the powers conferred by sub-section (6) of section 39 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (1) of rule 61 of the Central Goods and Services Tax Rules, 2017, hereby extends the due date for furnishing the return in FORM GSTR-3B for the month of April, 2022 till the 24th day of May, 2022. [F. No. CBIC-20006/9/2022-GST]
Change Type	Notification
State	Central
Effective Date	24-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235799.pdf

CBIC extends due date of depositing the tax in FORM GST PMT-06 for the month of April 2022

Brief Details	The Central Board of Indirect Taxes and Customs, in exercise of the powers conferred by the first proviso to sub-rule (3) of rule 61 of the Central Goods and Services Tax Rules, 2017, hereby extends the due date for depositing the tax due under proviso to sub-section (7) of section 39 of the Central Goods and Services Tax Act, 2017 in FORM GST PMT-06 for the month of April, 2022 till the 27th day of May, 2022. [F. No. CBIC-20006/9/2022-GST]
Change Type	Notification
State	Central
Effective Date	27-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235799.pdf

CAQM notifies the Commission for Air Quality Management in National Capital Region and Adjoining Areas (Form and Manner of Furnishing Annual Report) Regulations, 2022

Brief Details	The Commission for Air Quality Management in National Capital Region and Adjoining Areas, in exercise of powers conferred by clause (d) of subsection (2) of section 26 of the Commission for Air Quality Management in National Capital Region and Adjoining Areas Act, 2021, hereby makes the regulations, namely the Commission for Air Quality Management in National Capital Region and Adjoining Areas (Form and Manner of Furnishing Annual Report) Regulations, 2022.
Change Type	Notification
State	Central
Effective Date	17-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235793.pdf

SEBI issues Circular for Master Circular for Commodity Derivatives Market

Brief Details	The Securities and Exchange of India issues Master Circular for Commodity Derivatives Market. [SEBI/HO/CDMRD/DMP/P/CIR/2022/64]
Change Type	Master Circular
State	Central
Effective Date	17-May-2022
Source	https://www.sebi.gov.in/legal/master-circulars/may-2022/master-circular-for-commodity-derivatives-market_58937.html

NSE issues Circular for Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC

Brief Details	The National Stock Exchange of India Limited issues Circular for Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC issued by SEBI.
Change Type	Circular
State	Central
Effective Date	17-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-7.pdf

MSE issues Circular for Submission of Members Indemnity Insurance Policy for the year 2022-23

Brief Details	The Metropolitan Stock Exchange issues Circular for Submission of Members Indemnity Insurance Policy for the year 2022-23. Trading Members are requested to submit their renewed Insurance policy on or before July 31, 2022 to membership@msei.in
Change Type	Circular
State	Central
Effective Date	17-May-2022
Source	https://www.msei.in/SX-Content/Circulars/2022/May/Circular-11832.pdf

CBDT issues Circular regarding use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961

Brief Details	The Central Board of Direct Taxes issues Circular for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961. All tax deductors/collectors are requested to make note of this circular for compliance. (Circular No. 10 of 2022)
Change Type	Circular
State	Central
Effective Date	17-May-2022
Source	https://incometaxindia.gov.in/news/circular-no-10-2022.pdf

NCDEX issues Circular for Submission of Half Yearly Net worth Certificate as on 31st March, 2022 dated 17^th May, 2022

Brief Details	The National Commodity & Derivatives Exchange Limited issues Circular for Submission of Half Yearly Net worth Certificate as on 31st March, 2022. Half Yearly Net worth Certificate along with Statement of Computation of Net worth as on 31st March, 2022 based on unaudited financial statement should be submitted to the Exchange on or before 31st May, 2022.
Change Type	Circular
State	Central
Effective Date	17-May-2022
Source	https://ncdex.com/public/uploads/circulars/submission_of_half_yearly_net%20_worth-%20Reminder_1652788908.pdf

Government of Andhra Pradesh notifies The National E-Governance Services Limited Information Utility

Brief Details	The Government of Andhra Pradesh notifies that The National E-Governance Services Limited (NeSL) Information Utility (IU) is mandated to serve as a repository of legal evidence for financial credit contracts.
Change Type	Notification
State	Andhra Pradesh
Effective Date	17-May-2022
Source	https://nesl.co.in/wp-content/uploads/2022/05/Andhra-Pradesh-GO-Ms-No-326-dt-17-05-2022-NeSL.pdf

Government of Goa notifies The Goa Minimum Wages Notification (April 2022)

Brief Details	The Government of Goa vide Notification No. CLE/PA/MWA-VDA/(10)/2016/1212 notifies The Goa Minimum Wages Notification (April 2022).
Change Type	Notification
State	Goa
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-10-11.pdf

KSPCB issues Circular regarding categorization of industries into Red/orange/green and white categories based on pollution potential which are not included in categorization

Brief Details	The Kerala State Pollution Control Board issues Circular for categorization of industries into Red/orange/green and white categories based on pollution potential which are not included in categorization.
Change Type	Circular
State	Kerala
Effective Date	05-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-11-6.pdf

BSE issues Circular for Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Brief Details	The Bombay Stock Exchange issues Circular for Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It has been decided to provide relaxation up to December 31, 2022, from the requirements of Regulation 58 (1)(b) of the Listing Regulations. Listed Companies are requested to take note and comply accordingly.
Change Type	Circular
State	Central
Effective Date	16-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220516-4

MSE issues a Circular for New version release of Trading Software (11.6.18) and revised API

Brief Details	The Metropolitan Stock Exchange issues Circular for New version release of Trading Software (11.6.18) and revised API. Members may please note that this is a compulsory download release for trading software and are requested to install the new version to ensure uninterrupted trading from Monday, May 23, 2022.
Change Type	Circular
State	Central
Effective Date	16-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-2-5.pdf

NSDL issues Circular for Amendment to Bye Laws and Business Rules on 16th May 2022

Brief Details	The National Securities Depository Limited, issues Circular for Amendment to Bye Laws and Business Rules on 16th May 2022. Amendment are to Bye Laws and Business Rules regarding Trading Member and Portfolio Manager.
Change Type	Circular
State	Central
Effective Date	16-May-2022
Source	https://bit.ly/3sJ1gf5

CDSL issues Circular for Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC

Brief Details	The Central Depository Services (India) Limited issues Circular for Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC issued by SEBI.
Change Type	Circular
State	Central
Effective Date	16-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-4-9.pdf

MCX issues Circular for Submission of Internal Audit Report and data pertaining to Risk Based Supervision

Brief Details	The Multi Commodity Exchange issues Circular for Submission of Internal Audit Report and data pertaining to Risk Based Supervision. Members are reminded to submit the said submissions (if already not submitted) on or before May 31, 2022 in the prescribed format on the Exchange Portal https://member.mcxindia.com
Change Type	Notification
State	Central
Effective Date	16-May-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-288-2022.pdf?sfvrsn=b5641691_0

NCDEX issues Circular for Submission of data pertaining to Risk Based Supervision, Internal Audit Report and System Audit Report

Brief Details	The National Commodity & Derivatives Exchange Limited issues Circular for Submission of data pertaining to Risk Based Supervision, Internal Audit Report and System Audit Report. Members are required to submit the mentioned submissions for period ended March 31, 2022 on or before due date as specified.
Change Type	Notification
State	Central
Effective Date	16-May-2022
Source	https://ncdex.com/public/uploads/circulars/Reminder_RBS_IAR_SAR_16052022_1652680116.pdf

Government of Kerala notifies The Kerala Minimum Wages Notification (March 2022)

Brief Details	The Government of Kerala notifies The Consumer Price Index (Cost of Living Index) Numbers applicable to employees in employment under the Minimum Wages Act (Central Act XI of 1948) for the month of March 2022 as ascertained by the Director of Economics & Statistics under clause (C) of Section 2 of the Act. This is for Agricultural Labourers and Industrial Workers.
Change Type	Notification
State	Central
Effective Date	01-March-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-7-8.pdf

SEBI issues Circular for Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Brief Details	The Securities and Exchange of India, in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the LODR Regulations issues Circular for Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It has been decided to provide relaxation upto December 31, 2022, from Regulation 36 (1) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(“LODR Regulations”). [SEBI/HO/CFD/CMD2/CIR/P/2022/62]
Change Type	Circular
State	Central
Effective Date	13-May-2022
Source	https://bit.ly/3yVix91

SEBI issues Circular for Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC

Brief Details	The Securities and Exchange of India issues Circular for Guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up Wholly Owned Subsidiaries, Step Down Subsidiaries, Joint Ventures in GIFT IFSC. [SEBI/HO/MIRSD/DoR/P/CIR/2022/61]
Change Type	Circular
State	Central
Effective Date	13-May-2022
Source	https://bit.ly/3yBiDCo

SEBI issues Circular for Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – for entities with listed non-convertible securities

Brief Details	The Securities and Exchange of India, in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the LODR Regulations issues Circular for Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – for entities with listed non-convertible securities. It has been decided to provide relaxation upto December 31, 2022, from the requirements of Regulation 58 (1)(b) of the Listing Regulations. [SEBI/HO/DDHS/P/CIR/2022/0063]
Change Type	Circular
State	Central
Effective Date	13-May-2022
Source	https://bit.ly/3PpDmPq

BSE issues a Circular for Payment of fees in connection with filings made with SEBI

Brief Details	The Bombay Stock Exchange issues Circular for Payment of fees in connection with filings made with SEBI. The listed companies are hereby advised to make payment of fees as per the communication issued by SEBI.
Change Type	Circular
State	Central
Effective Date	13-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220513-11

NSDL issues Circular for Annual System Audit Report

Brief Details	The National Securities Depository Limited issues Circular for Annual System Audit Report. Participants are advised to note that the audit report format provided in this circular is applicable for audit period April 01, 2021 to March 31, 2022 and onwards.
Change Type	Circular
State	Central
Effective Date	13-May-2022
Source	https://nsdl.co.in/downloadables/pdf/2022-068-Policy-%20Annual%20System%20Audit%20Report.pdf

MCX issues Circular for Guidelines for maintaining bank accounts by the Trading Members on 13^th May 2022

Brief Details	The Multi Commodity Exchange issues Circular for Guidelines for maintaining bank accounts by the Trading Members on 13^th May 2022. Members are advised to submit the bank confirmation on or before May 31, 2022.
Change Type	Circular
State	Central
Effective Date	13-May-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-285-2022.pdf?sfvrsn=5aa91691_0

RBI notifies Lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to priority sectors

Brief Details	The Reserve Bank of India notifies Lending by Commercial Banks to NBFCs and Small Finance Banks (SFBs) to NBFC-MFIs, for the purpose of on-lending to priority sectors. [RBI/2022-23/50]
Change Type	Notification
State	Central
Effective Date	13-May-2022
Source	https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12317&Mode=0

CBDT notifies Guidelines for compulsory selection of returns for complete scrutiny during the FY 2022-23

Brief Details	The Central Board of Direct Taxes notifies Guidelines for compulsory selection of returns for complete scrutiny during the FY 2022-23 -procedure for compulsory selection in such cases.
Change Type	Notification
State	Central
Effective Date	11-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-8-8.pdf

IRDAI issues Circular for Rationalization of compliance requirements on 12^th May 2022

Brief Details	The Insurance Regulatory and Development Authority of India, in exercise of powers conferred by Section 14(2)(e) of the Insurance Regulatory and Development Authority Act, 1999 issues Circular for Rationalization of compliance requirements.
Change Type	Notification
State	Central
Effective Date	12-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-9-9.pdf

IRDAI issues Circular for Discontinuation of monthly Solvency Returns

Brief Details	The Insurance Regulatory and Development Authority of India, in exercise of powers conferred by Section 14(2)(e) of the Insurance Regulatory and Development Authority Act, 1999 issues Circular for Discontinuation of monthly Solvency Returns.
Change Type	Notification
State	Central
Effective Date	12-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-10-10.pdf

MSE issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

Brief Details	The Metropolitan Stock Exchange, issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments issued by SEBI. Members are requested to take note of the contents of the circular and comply.
Change Type	Circular
State	Central
Effective Date	01-August-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-1-6.pdf

NSDL issues a Circular for Modification in operational guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors

Brief Details	The National Securities Depository Limited issues a Circular for Modification in operational guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors – SEBI to generate FPI registration number and both the Depositories to host the CAF. The certificate of registration to FPI applicant has been generated by NSDL with FPI registration number being generated by SEBI post approval granted by DDP (post DSC authorisation) on NSDL FPI Portal (https://www.fpi.nsdl.co.in/).
Change Type	Circular
State	Central
Effective Date	09-May-2022
Source	https://bit.ly/3wttrQt

MCX issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

Brief Details	The Metropolitan Stock Exchange, issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments issued by SEBI. Members are requested to take note of the contents of the circular and comply with applicable regulatory requirements.
Change Type	Circular
State	Central
Effective Date	01-August-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-279-2022.pdf?sfvrsn=59481591_0

NCDEX issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

Brief Details	The Metropolitan Stock Exchange, issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments issued by SEBI. Members are requested to take note of the contents of the circular and comply.
Change Type	Circular
State	Central
Effective Date	01-August-2022
Source	https://ncdex.com/public/uploads/circulars/Margin_12052022_1652337782.pdf

IRDAI issues Circular for Pricing of products covering Fire and Allied perils

Brief Details	The Insurance Regulatory and Development Authority of India issues a Circular for Pricing of products covering Fire and Allied perils. It is reiterated that insurers shall ensure that policyholders are not mis-informed that the Burning Cost is a ‘mandated minimum rate’ for insurers to charge.
Change Type	Circular
State	Central
Effective Date	12-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-5-6.pdf

IRDAI issues Circular for Filing of fire insurance products for Dwellings, Micro and Small Businesses

Brief Details	The Insurance Regulatory and Development Authority of India issues a Circular for Filing of fire insurance products for Dwellings, Micro and Small Businesses. This circular shall come into effect from 1st June, 2022.
Change Type	Circular
State	Central
Effective Date	01-June-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-6-6.pdf

IRDAI issues Press Note for new and customised products for dwellings, micro and small enterprises for Fire and Allied Perils

Brief Details	The Insurance Regulatory and Development Authority of India issues a Circular for new and customised products for dwellings, micro and small enterprises for Fire and Allied Perils. The insurance companies have also been advised to ensure that there is no mis-information to policyholders and other stakeholders regarding Industry Burning Cost.
Change Type	Circular
State	Central
Effective Date	12-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-7-7.pdf

ESIC issues Circular for state wise updated list of notified districts under ESI scheme as on 10^th May 2022

Brief Details	The Employees’ State Insurance Corporation issues Circular for state wise updated list of notified districts under Employees’ State Insurance scheme as on 10^th May 2022.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-8-7.pdf

DGFT notifies Alignment of Appendix 4R with the Finance Act, 2021 with effect from 1^st Jan 2022

Brief Details	The Directorate General of Foreign Trade, in exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.02 of the Foreign Trade Policy 2015-20, hereby notifies an Appendix 4R which is aligned with the Finance Act , 2021. This Appendix 4R shall be effective from 1^st Jan 2022.
Change Type	Notification
State	Central
Effective Date	01-Jan-2022
Source	https://egazette.nic.in/WriteReadData/2022/235711.pdf

NSE issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

Brief Details	The National Stock Exchange of India Limited, issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments issued by SEBI. Members are requested to take note of the contents of the circular and comply.
Change Type	Circular
State	Central
Effective Date	11-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-2-4.pdf

BSE issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

Brief Details	The Bombay Stock Exchange issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments issued by SEBI. Members are requested to take note of the contents of the circular and comply.
Change Type	Circular
State	Central
Effective Date	11-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220511-34

BSE issues Circular for Modifications in the STP messaging formats on account of implementation of the Stamp Duty

Brief Details	The Bombay Stock Exchange issues Circular for Modifications in the Straight Through Processing (STP) messaging formats on account of implementation of the Stamp Duty. STP centralized hub, STP service providers and members are strictly advised to ensure the compliance of this circular.
Change Type	Circular
State	Central
Effective Date	11-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220511-35

MSE issues Circular for Modifications in the STP messaging formats on account of implementation of the Stamp Duty

Brief Details	The Metropolitan Stock Exchange issues Circular for Modifications in the Straight Through Processing (STP) messaging formats on account of implementation of the Stamp Duty. STP centralized hub, STP service providers and members are strictly advised to ensure the compliance of this circular.
Change Type	Circular
State	Central
Effective Date	11-May-2022
Source	https://www.msei.in/SX-Content/Circulars/2022/May/Circular-11813.pdf

IRDAI issues Circular for Actuarial & reinsurance returns – Dispensing with hard copy submission

Brief Details	The Insurance Regulatory and Development Authority of India issues a Circular for Actuarial & reinsurance returns – Dispensing with hard copy submission. This circular is issued under section 14(2)(e) of the Insurance Regulatory and Development Authority Act, 1999. It shall come into force with immediate effect.
Change Type	Circular
State	Central
Effective Date	11-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-6-5.pdf

CBDT notifies the Income-tax (Fifteenth Amendment) Rules, 2022

Brief Details	The Central Board of Direct Taxes, in exercise of the powers conferred by clause (vii) of sub-section (1), sub-section(6A) of section 139A, and clause (ab) of Explanation to the said section read with section 295 of the Income-tax Act, 1961, hereby makes the rules further to amend the Income-tax Rules, 1962, namely the Income-tax (Fifteenth Amendment) Rules, 2022.
Change Type	Notification
State	Central
Effective Date	10-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235684.pdf

SEBI notifies the Securities and Exchange Board of India (Collective Investment Schemes) (Amendment) Regulations, 2022

Brief Details	The Securities and Exchange of India, in exercise of the powers conferred by section 30 read with section 11 and section 19 of the Securities and Exchange Board of India Act, 1992, hereby makes the regulations to further amend the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999, namely the Securities and Exchange Board of India (Collective Investment Schemes) (Amendment) Regulations, 2022.
Change Type	Notification
State	Central
Effective Date	10-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235695.pdf

SEBI issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

Brief Details	The Securities and Exchange of India, in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 issues Circular for Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments. The provisions of this circular shall come into effect from 1^st August, 2022.
Change Type	Circular
State	Central
Effective Date	01-August-2022
Source	https://bit.ly/37yeLH4

NSE issues Circular for Modifications in the STP messaging formats on account of implementation of the Stamp Duty

Brief Details	The National Stock Exchange of India Limited, issues Circular for Modifications in the Straight Through Processing (STP) messaging formats on account of implementation of the Stamp Duty. STP centralized hub, STP service providers and members are strictly advised to ensure the compliance of this circular.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://archives.nseindia.com/content/circulars/INSP52257.pdf

NSE issues Circular for Cyber Security & Cyber Resilience Audit of Trading Members

Brief Details	The National Stock Exchange of India Limited, issues Circular for Cyber Security & Cyber Resilience Audit of Trading Members. Submission of Cyber Security & Cyber Resilience Audit Report shall be considered completed only after trading member submits the report to the Exchange after providing management comments.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://archives.nseindia.com/content/circulars/INSP52249.pdf

NSE issues Circular for Non Neat Systems – System Audit of Stock Brokers / Trading Members

Brief Details	The National Stock Exchange of India Limited, issues Circular for Non Neat Systems – System Audit of Stock Brokers / Trading Members. Trading members shall comply with any non-compliance/ non-conformities (NCs) pending for system audit report for the previous audit period by submitting ATR and/or Follow-on audit report as the case may be through ENIT.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://archives.nseindia.com/content/circulars/INSP52246.pdf

BSE issues Circular for Charges for trading with unregistered UCC/UCC without PAN for the month of April, 2022

Brief Details	The Bombay Stock Exchange issues Circular for Charges for trading with unregistered UCC/UCC without PAN for the month of April, 2022. The Trading members are advised to ensure strict compliance and register the client codes with the Exchange before executing the trades on their behalf.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220510-4

BSE issues Circular for Download of Penalty Report for modification of Client Codes of non-institutional trades

Brief Details	The Bombay Stock Exchange issues Circular for Download of Penalty Report for modification of Client Codes of non-institutional trades (All segments). The members are requested to save the mentioned files for their future reference.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220510-3

NSDL issues Circular for Amendment to Bye Laws and Business Rules on 10^th May 2022

Brief Details	The National Securities Depository Limited, issues Circular for Amendment to Bye Laws and Business Rules on 10^th May 2022. The time period for the records to be maintained by the Participants is increased from five years to eight years.
Change Type	Circular
State	Central
Effective Date	10-May-2022
Source	https://bit.ly/3l0NnEU

Ministry of Finance notifies Enhancement in Family Pension of employees treatment of additional liability

Brief Details	The Ministry of Finance, in exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), hereby declares that the provisions of sub-section (1) of section 15 of the said Act shall not apply to a banking company for a period upto 31st March, 2026, in so far as it relates to the treatment of unamortized expenditure on account of enhancement in family pension as set out in the Reserve Bank of India circular DOR.ACC.REC.57/21.04.018/2021-22 dated 4th October, 2021. (https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12172&Mode=0 )
Change Type	Notification
State	Central
Effective Date	09-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235646.pdf

CBDT notifies the Income-tax (Fourteenth Amendment) Rules, 2022

Brief Details	The Central Board of Direct Taxes, in exercise of the powers conferred by clauses (i), (ii), (iii) and (iv) of first proviso to clause (23C) of section 10, ninth proviso to clause (23C) of section 10, sub-clauses (i) (ii), (iii), (iv), (v) and (vi) of clause (ac) of sub-section (1) of section 12A, sub-section (3) of section 12AB, first and fifth proviso to sub-section (1) subsection (1A) of section 35, clauses (i), (ii), (iii) and (iv) of first proviso to sub-section (5) of section 80G, third proviso to sub-section (5) of section 80G, clauses (viii) and (ix) of sub-section (5) of section 80G, read with section 295 of the Income-tax Act, 1961, hereby makes the rules further to amend the Income-tax Rules, 1962, namely the Income-tax (Fourteenth Amendment) Rules, 2022.
Change Type	Notification
State	Central
Effective Date	09-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235658.pdf

CBDT notifies Guidelines under clause (23FE) of section 10 of the Income-tax Act, 1961

Brief Details	The Central Board of Direct Taxes, Guidelines under clause (23FE) of section 10 of the Income-tax Act, 1961. (Circular No. 9 of 2022)
Change Type	Circular
State	Central
Effective Date	09-May-2022
Source	https://incometaxindia.gov.in/news/cicular-9-2022.pdf

SEBI notifies the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2022

Brief Details	The Securities and Exchange of India, in exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992, hereby makes the regulations to further amend the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, namely the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2022.
Change Type	Notification
State	Central
Effective Date	06-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235526.pdf

ESIC notifies Section 46 (2) of the Employees’ State Insurance Act, 1948

Brief Details	The Employees’ State Insurance Corporation, in pursuance of powers conferred by Section 46 (2) of the Employees’ State Insurance Act, 1948 (34 of 1948), read with Regulation 95-A of the Employees’ State Insurance (General) Regulations, 1950, the Director General has fixed the 01/04/2022 as the date from, which the medical benefit as laid down in the said Regulation 95-A and the Tamil Nadu Employees’ State Insurance (Medical Benefit) Rules, 1955 shall be extended to the families of insured persons in the entire area of Nagapattinam districts in the State of Tamil Nadu, in addition to the already implemented area in the district.
Change Type	Notification
State	Central
Effective Date	01-April-2022
Source	https://egazette.nic.in/WriteReadData/2022/235595.pdf

Ministry of Micro, Small And Medium Enterprises notifies for extending the validity of Udyog Aadhaar Memorandum

Brief Details	The Ministry of Micro, Small And Medium Enterprises, in exercise of the powers conferred by sub-sections (1) and (9) of section 7 read with sub-sections (2) and (3) of section 8 of the Micro, Small and Medium Enterprises Development Act,2006 (27 of 2006), hereby makes the further amendments in the notification of Government of India, Ministry of Micro, Small and Medium Enterprises number S.O. 2119 (E), dated the 26th June, 2020, (http://www.dcmsme.gov.in/IndianGazzate_0.pdf ). In the said notification, in paragraph 7, in sub-paragraph (3), for the figures and the words, “31st day of March, 2022” the figures and words “ 30^th day of June, 2022” shall be substituted.
Change Type	Notification
State	Central
Effective Date	30-June-2022
Source	https://egazette.nic.in/WriteReadData/2022/235600.pdf

CBDT notifies the Income-tax Amendment (Thirteenth Amendment) Rules, 2022

Brief Details	The Central Board of Direct Taxes, in exercise of the powers conferred by the Explanation 3 to clause (23FE) of section 10 and fourth, fifth and sixth provisos to clause (23FE) of section 10, read with section 295 of the Income-tax Act, 1961 (43 of 1961), hereby makes the rules further to amend the Income-tax Rules,1962, namely the Income-tax Amendment (Thirteenth Amendment) Rules, 2022. The amendment is for providing the method of calculation of the eligible investment and exempt income in respect of Sovereign Wealth Fund and Pension Fund.
Change Type	Notification
State	Central
Effective Date	06-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235602.pdf

MCA notifies Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM)

Brief Details	The Ministry of Corporate Affairs notifies Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means (OAVM). It has been decided to allow the Companies whose AGMs are due in the year 2022, to conduct their AGMs on or before 31^st December, 2022. (General Circular No. 2/2022)
Change Type	Circular
State	Central
Effective Date	05-May-2022
Source	https://www.mca.gov.in/bin/dms/getdocument?mds=ArgX2%252B%252BijiObjlpD2nMcUA%253D%253D&type=open

MCA notifies Clarification on passing of Ordinary and Special resolutions by the companies on account of Covid-19 Extention of timeline

Brief Details	The Ministry of Corporate Affairs notifies Clarification on passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with the rules made thereunder on account of Covid-19- Extension of timeline. It has been decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with framework upto 31^st December, 2022. (General Circular No. 3/2022)
Change Type	Circular
State	Central
Effective Date	05-May-2022
Source	https://www.mca.gov.in/bin/dms/getdocument?mds=JBdXGa0hUFPRoITMEqTz6g%253D%253D&type=open

RBI updates Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016

Brief Details	The Reserve Bank of India updates Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. [RBI/DNBR/2016-17/45]
Change Type	Master Direction
State	Central
Effective Date	02-May-2022
Source	https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10586

RBI updates Master Direction – Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016

Brief Details	The Reserve Bank of India updates Master Direction – Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. [RBI/DNBR/2016-17/44]
Change Type	Master Direction
State	Central
Effective Date	02-May-2022
Source	https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10585

RBI updates Master Direction – Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016

Brief Details	The Reserve Bank of India updates Master Direction – Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016. [RBI/DNBR/2016-17/38]
Change Type	Master Direction
State	Central
Effective Date	02-May-2022
Source	https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10563

BSE issues Circular for Reduction of timelines for listing of units of Real Estate Investment Trust (REIT)

Brief Details	The Bombay Stock Exchange issues Circular for Reduction of timelines for listing of units of Real Estate Investment Trust (REIT) issued by SEBI. It has been decided to reduce the time taken for allotment and listing after the closure of issue to six working days as against the present requirement of within twelve working days.
Change Type	Circular
State	Central
Effective Date	06-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220506-9

BSE issues Circular for Reduction of timelines for listing of units of Infrastructure Investment Trust (InvIT)

Brief Details	The Bombay Stock Exchange issues Circular for Reduction of timelines for listing of units of Infrastructure Investment Trust (InvIT) issued by SEBI dated 28^th April 2022. It has been decided to reduce the time taken for allotment and listing after the closure of issue to six working days as against the present requirement of within twelve working days.
Change Type	Circular
State	Central
Effective Date	06-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220506-10

BIS notifies Market surveillance of products covered under Compulsory Registration Scheme

Brief Details	The Bureau of Indian Standards notifies Market surveillance of products covered under Compulsory Registration Scheme.
Change Type	Circular
State	Central
Effective Date	28-April-2022
Source	https://www.crsbis.in/BIS/app_srv/tdc/gl/docs/LICENSEE_GUIDELINES_280422.pdf

NSDL issues a Circular on Streamlining the process of public issues and redressal of investor grievances

Brief Details	The National Securities Depository Limited issues a Circular on Streamlining the process of public issues and redressal of investor grievances which is issued by SEBI, wherein it provides a mechanism of compensation to investors for delay in unblocking of application amounts by SCSBs and has prescribed certain compliance and reporting standards to be adopted by SCSBs.
Change Type	Circular
State	Central
Effective Date	20-April-2022
Source	https://bit.ly/3kJDNWC

MCA notifies the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022

Brief Details	The Ministry of Corporate Affairs issues a Notification for the amendment to the Companies (Prospectus and Allotment of Securities) Rules, 2014, wherein new proviso has been inserted w.r.t. offer or invitation of securities and addition in Form PAS-4.
Change Type	Notification
State	Central
Effective Date	05-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235565.pdf

CBDT notifies the Income-tax (Twelfth Amendment) Rules, 2022

Brief Details	The Central Board of Direct Taxes issues a Notification for amendment to the Income-tax Rules, 1962, wherein in rule 44E, in sub-rule (1), the words in quadruplicate shall be omitted; for sub-rule (2) has been substituted. Also FORM No. 34C to FORM No. 34EA have been substituted.
Change Type	Notification
State	Central
Effective Date	05-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235571.pdf

Government of Maharashtra notifies amendment to the Government Notification made under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975

Brief Details	The Government of Maharashtra issues a Notification for Amendment to the Government Notification, Finance Department No. PFT-2014/CR38/Taxation-3, dated the 21st August 2014, wherein new entry has been made after the 8th entry in the schedule appended to the notification.
Change Type	Notification
State	Maharashtra
Effective Date	27-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-4-8.pdf

RBI notifies Maintenance of Cash Reserve Ratio (CRR)

Brief Details	The Reserve Bank of India issues a Notification for Maintenance of Cash Reserve ratio (CRR), wherein it has been decided to increase the Cash Reserve Ratio (CRR) of all banks by 50 basis points from 4.00 percent to 4.50 percent of their Net Demand and Time Liabilities (NDTL), effective from the reporting fortnight beginning May 21, 2022.
Change Type	Notification
State	Central
Effective Date	21-May-2022
Source	https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12313&Mode=0

RBI notifies Change in Bank Rates

Brief Details	The Reserve Bank of India issues a Notification for Change in bank rates, wherein the Bank Rate is revised upwards by 40 basis points from 4.25 per cent to 4.65 per cent with immediate effect.
Change Type	Notification
State	Central
Effective Date	04-May-2022
Source	https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12312&Mode=0

RBI notifies Standing Liquidity Facility for Primary Dealers

Brief Details	The Reserve Bank of India issues a Notification for Standing Liquidity Facility for Primary Dealers, wherein the policy repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 40 basis points to 4.40 per cent from 4.00 per cent with immediate effect. Accordingly, the Standing Liquidity Facility provided to Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank would be available at the revised repo rate of 4.40 per cent with effect from May 4, 2022.
Change Type	Notification
State	Central
Effective Date	04-May-2022
Source	https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12311&Mode=0

RBI notifies Liquidity Adjustment Facility- Change in rates

Brief Details	The Reserve Bank of India issues a Notification for Liquidity Adjustment Facility- Change in rates, it has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 40 basis points from 4.00 per cent to 4.40 per cent with immediate effect. Consequently, the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate stand adjusted from 3.75 per cent to 4.15 per cent and from 4.25 per cent to 4.65 per cent respectively, with immediate effect.
Change Type	Notification
State	Central
Effective Date	04-May-2022
Source	https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI42D5991F192A3E4189934FE66799C7E187.PDF

RBI issues a Press Release for Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) May 2 and 4, 2022

Brief Details	The Reserve Bank of India issues a Press Release for Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) May 2 and 4, 2022 regarding Increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points to 4.40 per cent with immediate effect. Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 4.65 per cent
Change Type	Press Release
State	Press Release
Effective Date	04-May-2022
Source	https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53652

BSE issues a Notice for Operational Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper

Brief Details	The Bombay Stock Exchange issues a Notice for Operational Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper issued by SEBI, wherein it provides a chapter-wise framework for the issuance, listing and trading of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities or Commercial Paper.
Change Type	Notice
State	Central
Effective Date	13-April-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220504-22

CDSL issues a Circular for Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors

Brief Details	The Central Depository Services (India) Limited issues a Circular regarding Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors which was issued by SEBI to generate FPI registration number and both the Depositories to host the CAF.
Change Type	Circular
State	Central
Effective Date	04-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-7-6.pdf

MSE issues a Circular for Reduction of Timelines for Listing of Units of Real Estate Investment Trust (REIT)

Brief Details	The Metropolitan Stock Exchange issues a Circular for Reduction of Timelines for Listing of Units of Real Estate Investment Trust (REIT) issued by SEBI, wherein it has been decided to reduce the time taken for allotment and listing after the closure of issue to six working days as against the present requirement of within twelve working days.
Change Type	Circular
State	Central
Effective Date	01-June-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-8-6.pdf

MSE issues a Circular for Reduction of Timelines for Listing of Units of Infrastructure Investment Trust (InvIT)

Brief Details	The Metropolitan Stock Exchange issues a Circular for Reduction of Timelines for Listing of Units of Infrastructure Investment Trust (InvIT) issued by SEBI, wherein it has been decided to reduce the time taken for allotment and listing after the closure of issue to six working days as against the present requirement of within twelve working days.
Change Type	Circular
State	Central
Effective Date	01-June-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-9-8.pdf

MCA notifies the Companies (Share Capital and Debentures) Amendment Rules, 2022

Brief Details	The Ministry of Corporate Affairs issues a Notification for the Companies (Share Capital and Debentures) Amendment Rules, 2022, wherein the following shall be inserted in Form No.SH-4, before the Enclosures, transferee is not required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to transfer of shares or transferee is required to obtain the Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to transfer of shares and the same has been obtained and is enclosed herewith
Change Type	Notification
State	Central
Effective Date	04-May-2022
Source	https://egazette.nic.in/WriteReadData/2022/235529.pdf

RBI notifies Amendment in the notification No. DNBS.138/CGM (VSNM)-2000 dated January 13, 2000

Brief Details	The Reserve Bank of India issues a Notification for amendment in the notification No. DNBS.138/CGM (VSNM)-2000 dated January 13, 2000, wherein it specifies that Sections 45IA, 45IB and 45IC of the Reserve Bank of India Act, 1934 (2 of 1934) shall not apply to any non-banking financial company.
Change Type	Notification
State	Central
Effective Date	14-March-2022
Source	https://egazette.nic.in/WriteReadData/2022/235545.pdf

RBI notifies Modification to notification DBR.Ret.BC No.11/12.02.001/2018- 19 dated December 05, 2018

Brief Details	The Reserve bank of India issues a Notification for modification to notification DBR.Ret.BC No.11/12.02.001/2018- 19 dated December 05, 2018, wherein it specifies that “Cash” to be maintained by banks, as referred to in the Annex of the notification ibid, shall also include the balances held by banks with RBI under Standing Deposit Facility (SDF).
Change Type	Notification
State	Central
Effective Date	08-April-2022
Source	https://egazette.nic.in/WriteReadData/2022/235544.pdf

UIDAI issues a Press Release on Multiple ways to establish the veracity of Aadhaar

Brief Details	The Unique Identification Authority of India issues a Press Release on multiple ways to establish the veracity of Aadhaar, wherein it has stated that Aadhaar can be easily established both online and offline mode.
Change Type	Press Release
State	Central
Effective Date	04-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-13-3.pdf

RBI notifies Review of Minimum Investment Grade Credit Ratings for Deposits of NBFCs

Brief Details	The Reserve Bank of India issues a Notification for Review of Minimum Investment Grade Credit Ratings for Deposits of NBFCs, wherein it has been decided that the minimum investment grade credit rating for deposits of NBFCs shall be ‘BBB–’ from any of the SEBI-registered Credit Rating Agencies.
Change Type	Notification
State	Central
Effective Date	02-May-2022
Source	https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12304&Mode=0

RBI notifies Withdrawal of Circulars by Regulations Review Authority (RRA 2.0) in the third tranche of recommendations

Brief Details	The Reserve Bank of India issues a Notification for Withdrawal of Circulars by Regulations Review Authority (RRA 2.0) in the third tranche of recommendations. The List of circulars are annexed, also the press release has been made for the specified subject.
Change Type	Notification
State	Central
Effective Date	02-May-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-2-3.pdf

SEBI issues a Circular for System and Network Audit of Market Infrastructure Institutions (MIIs)

Brief Details	The Securities and Exchange of India issues a Circular for System and Network Audit of Market Infrastructure Institutions (MIIs), wherein in order to keep pace with the technological advancements in the securities market, it is felt that there is a need to revise the Circular no. SEBI/HO/MRD1/ICC1/CIR/P/2020/03 dated January 07, 2022. MIIs are required to conduct System and Network Audit, Terms of Reference and maintain a list of all the relevant SEBI circulars/ directions/ advices, etc. pertaining to technology and compliance. MIIs are also required to submit information with regard to exceptional major Non-Compliances (NCs)/ minor NCs observed in the System and Network audit.
Change Type	Circular
State	Central
Effective Date	02-May-2022
Source	https://www.sebi.gov.in/legal/circulars/may-2022/system-and-network-audit-of-market-infrastructure-institutions-miis-_58624.html

BSE issues a Notice for SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2022

Brief Details	The Bombay Stock Exchange issues a Notice for SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2022, wherein it specifies that SEBI has amended Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Change Type	Notice
State	Central
Effective Date	02-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220502-21

BSE issues a Notice for SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2022

Brief Details	The Bombay Stock Exchange issues a Notice for SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2022, wherein it specifies that SEBI has amended Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Change Type	Notice
State	Central
Effective Date	02-May-2022
Source	https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20220502-22

NSDL issues a Circular for Revision of special processing charges for online Corporate Actions

Brief Details	The National Securities Depository Limited issues a Circular for Revision of special processing charges for online Corporate Actions, wherein all Issuers/ R& T Agents are hereby informed that the existing special processing charges for online corporate actions. For Commercial Papers – ₹ 10/- per record subject to minimum of ₹ 5,000/- and maximum of ₹ 20,000/-per corporate action and for other securities – ₹ 10/- per record subject to minimum of ₹ 2,500/- and maximum of ₹ 20,000/-per corporate action.
Change Type	Circular
State	Central
Effective Date	16-May-2022
Source	https://bit.ly/3MJsFFg

MCX issues a Circular for New Trading Binary Interface – MCX Enhanced Trading Interface API v1.1

Brief Details	The Multi Commodity Exchange issues a Circular for New Trading Binary Interface. The MCX Enhanced Trading Interface (MCX ETI) is the high performance interface designed for participants who require the highest throughput and the lowest latency for their transactions.
Change Type	Circular
State	Central
Effective Date	02-May-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circulars-262—2022.pdf?sfvrsn=ce210b91_0

MCX issues a Circular for New Trading Binary Interface – MCX Market Data Interface Version 1.0 and MCX Enhanced Market Data Interface Version 1.0

Brief Details	The Multi Commodity Exchange issues a Circular for New Trading Binary Interface. The MCX Market Data Interface Version 1.0 and MCX Enhanced Market data Interface 1.0
Change Type	Circular
State	Central
Effective Date	02-May-2022
Source	https://www.mcxindia.com/docs/default-source/circulars/english/2022/may/circular-263-2022.pdf?sfvrsn=1d210b91_0

FSSAI issues an Order for Risk Based Inspection System

Brief Details	The Food Safety and Standards Authority of India issues an Order for Risk Based Inspection System, wherein it has been decided to enable the authorities to carry out the mandatory inspection in the premises of Food Business Operators ensuring safety of high risk food category in systemic manner.
Change Type	Order
State	Central
Effective Date	02-May-2022
Source	https://www.fssai.gov.in/upload/advisories/2022/05/626fad52101b0Order_RBIS_02_05_2022.pdf

FSSAI issues an Order for Revised Standard Operating Procedure for Mandatory modification of old licenses granted from FLRS portal

Brief Details	The Food Safety and Standards Authority of India issues an Order for Revised SOP for Mandatory modification of old licenses granted from FLRS Portal, wherein it says that FBOs who have already applied for modification of license before expiry date can now file for renewal of their license simultaneously without waiting for approval of modification application by the authority.
Change Type	Order
State	Central
Effective Date	02-May-2022
Source	https://bit.ly/3LL8ExZ

FSSAI issues an Order for Submission of Annual Returns by Manufacturer – Exporter FBOs for the activities conducted wef FY 2021-22

Brief Details	The Food Safety and Standards Authority of India issues an Order for Submission of annual returns by manufacturer, wherein it has been decided that manufacturer – Exporters will be required submit Annual Returns for the food business activities conducted wef FY 2021-22 replacing the existing practice of submission of quarterly returns. The last date for submission of Annual Return for FY 2021-22 is May 31, 2022. Returns submitted only through FoSCos portal will be considered.
Change Type	Order
State	Central
Effective Date	29-April-2022
Source	https://www.fssai.gov.in/upload/advisories/2022/05/626f73cd4a2f1Order_FBO_Annual_Return_02_05_2022.pdf

FSSAI issues an Order for Standard Operating Procedure for Central Licensing Authority to review Third Party Audit Reports

Brief Details	The Food Safety and Standards Authority of India issues an Order for SOP for Central Licensing Authority to review Third Party Audit Reports which includes procedure for recognition of auditing agencies, renewal/cancellation/suspension of license, etc.,
Change Type	Order
State	Central
Effective Date	02-May-2022
Source	https://www.fssai.gov.in/upload/advisories/2022/05/6270b0afe37e5SOP_TPA_Report_03_05_2022.pdf

Government of West Bengal issues an order for extension of date for filing returns under the West Bengal State tax on Professions, Trades, Callings, and Employments Act, 1979

Brief Details	The Government of West Bengal issues an Order for Extension of date for filing returns under the West Bengal State Tax on Profession, Trades, callings, and Employments Act, 1979, wherein the last date of filing returns in Form-III under the West Bengal State Tax on Professions, Trades, Callings, and Employment Act, 1979, is extended from April 30, 2022, to May 31, 2022. The last date for furnishing the return in the paper form has also been extended till June 7, 2022.
Change Type	Order
State	West Bengal
Effective Date	29-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-13-2.pdf

Government of Odisha notifies the Minimum rate of Wages

Brief Details	The Government of Odisha notifies Minimum rate of Wages, wherein it has released the Minimum Wages effective from April 1, 2022 for the State of Odisha.
Change Type	Notification
State	Odisha
Effective Date	01-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-14-1.pdf

RBI notifies Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs

Brief Details	The Reserve Bank of India issues a Notification for Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs, wherein it provides broad guidance to NBFCs and their NRCs in formulating their compensation policy. While formulating the compensation policy, it has to be ensured that all statutory mandates and the rules and directions issued under them are fully complied with. These guidelines shall come into effect from April 01, 2023.
Change Type	Notification
State	Central
Effective Date	01-April-2023
Source	https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12303&Mode=0

SEBI issues a Circular for Modification in operational guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors

Brief Details	The Securities Exchange and Board of India issues a Circular for Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors, wherein it decides that the designated depository participant shall grant the certificate of registration, bearing registration number generated by SEBI and Upon receipt of the request for name change along with abovementioned documents, the DDP shall effect the change in name in the certificate.
Change Type	Circular
State	Central
Effective Date	09-May-2022
Source	https://bit.ly/3FaxpRY

CBDT notifies Income Tax (Eleventh Amendment) Rules, 2022

Brief Details	The Central Board of Direct Taxes issues a Notification for Income-tax (Eleventh Amendment) Rules, 2022, wherein it decides that the return of income to be furnished by any person, eligible to file such return under the sub-section (8A) of section 139, relating to the assessment year commencing on the April 01, 2020 and subsequent assessment years, shall be in the Form ITR-U and be verified in the manner indicated therein.
Change Type	Notification
State	Central
Effective Date	29-April-2022
Source	https://www.incometaxindia.gov.in/communications/notification/notification-48-2022.pdf

NSDL issues a Circular for Addition of AMC REPO Clearing Limited as Clearing Corporation in NSDL

Brief Details	The National Securities Depository Limited issues a Circular for Addition of AMC REPO Clearing Limited as Clearing Corporation in NSDL and the CC ID allotted to AMC REPO Clearing Limited as Clearing Corporation is IN001192 and the Circular also states the forth coming compliances.
Change Type	Circular
State	Central
Effective Date	29-April-2022
Source	https://bit.ly/3vPWjSw

IRDAI issues a Circular for Exposure of Insurers to Financial and Insurance Activities

Brief Details	The Insurance Regulatory and Development Authority of India issues a Circular for Exposure of Insurers to Financial and Insurance Activities, wherein it says all Insurers to have exposure to Financial and Insurance activities (as per section K of NIC classification) up to 30% of Investment assets. Accordingly, the limit of 25% of Investment Assets mentioned in Note no. 8 to Reg.9 of IRDAI (Investment) Regulations, 2016 stands revised to a limit of 30% of Investment Assets.
Change Type	Circular
State	Central
Effective Date	29-April-2022
Source	https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo4692&flag=1

Government of Goa notifies regarding Ex-gratia Compensation for the deceased due to Covid-19

Brief Details	The Government of Goa issues Notification regarding the ex-gratia payment of Rs. 50,000 for next kin of deceased due to Covid-19, wherein it informs that he ex-gratia payment of Rs. 50,000/- for next kin of deceased due to Covid, the claimant can file the claim for Ex-gratia Compensation till May 23, 2022 in case of death occurred due to Covid-19 prior to March 20, 2022.
Change Type	Notification
State	Goa
Effective Date	27-April-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-6-4.pdf

Government of Assam notifies revised rate of Variable Dearness Allowance

Brief Details	The Government of Assam issues a Notification regarding the revision of the rate of Variable Dearness Allowance (VDA) for certain category of workmen in Assam.
Change Type	Notification
State	Assam
Effective Date	01-January-2022
Source	https://www.ricago.com/wp-content/uploads/2022/05/Attachment-7-5.pdf

RBI notifies Modification in Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities

Brief Details	The Reserve Bank of India issues a Notification for Modification in interest subvention scheme for short-term loans for agriculture and allied activities through Kisan Credit Card (KCC) during the Financial Year 2021-22.
Change Type	Notification
State	Central
Effective Date	28-April-2022
Source	https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12302&Mode=0