SEBI Eases Rules for Physical Securities’ Holders Without PAN, KYC Details In a move towards simplifying regulations, the Securities and Exchange Board of India (SEBI) has announced the elimination of the requirement to freeze folios of physical securities for holders without PAN, KYC details, and nomination. This decision, effective immediately, aims to streamline the process for investors and reduce administrative burdens.   Background and Justification SEBI’s decision to ease the rules for physical securities’ holders […]

RBI Invites Feedback on Draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services   Introduction: The Reserve Bank of India (RBI) has recently released a draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services. In an effort to gather input and feedback from stakeholders, the RBI has invited comments on the draft direction, which aims to provide comprehensive guidelines for managing risks associated […]

Buying Green Power may become mandatory under the Energy Conservation Act The Indian government is on its way to making the national renewable purchase obligations (RPOs) enforceable under the Energy Conservation Act, which carries heavy penalties for non-compliance. RPOs necessitate obligated entities, including open-access consumers, distribution companies, and captive power producers to buy a minimum amount of renewable energy. While the central Government announces the RPO trajectory for compliance by obligated entities, the State Regulatory […]

  When it comes to renting a residential property, the onus is on both landlords as well as tenants to protect their interests, especially when you consider the prevalence of shady practices involving rental agreements. While almost all lease agreements contain clauses that safeguard the landlord’s interests, experts believe it’s time tenants become more proactive and protect themselves too. Yet, considering the relative dearth of bargaining power they possess when it comes to signing rental […]

Diamond Industry Plans to Reduce Bank Financing by a Third in Response to Waning Global Demand   India’s diamond industry is taking proactive measures to reduce its bank financing needs in light of the declining global demand for diamonds. The industry plans to decrease its financing requirements from $6 billion in FY23 to $4 billion for the current financial year. This decision is driven by the need to manage accounts effectively amidst a challenging market […]