Amendment of Arbitration Clause in General Insurance Policies   Introduction In response to the reference made by the Hon’ble Supreme Court of India, the Insurance Regulatory and Development Authority of India (IRDAI) conducted a comprehensive review of the existing Arbitration Clause that prevails across various lines of business in the General Insurance Industry. After thorough consultation with stakeholders, IRDAI has determined that the existing Arbitration Clause has certain limitations and requires amendments. Additionally, it has […]

Extension of Compliance Timeline for Qualification and Experience Requirements under SEBI (Investment Advisers) Regulations, 2013 In an effort to improve the clarity and readability of the original content, the following revised version provides a more concise and cohesive explanation of the topic. Regulation 7 of SEBI (Investment Advisers) Regulations, 2013 Under the SEBI (Investment Advisers) Regulations, 2013, amendment vide SEBI (Investment Advisers) (Amendment) Regulations, 2020, Regulation 7 outlines the qualification and experience requirements for investment […]

Requirement of Base Minimum Capital Deposit for Category 2 Execution Only Platforms The Securities and Exchange Board of India (SEBI) has issued a circular (No.SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/86) dated June 13, 2023, outlining the regulatory framework for Execution Only Platforms (EOPs). These platforms facilitate transactions in direct plans of Mutual Fund schemes through digital or online platforms. EOPs refer to any digital platform that enables subscription, redemption, and switch transactions in direct plans of Mutual Fund schemes. Categories […]

Regulation of Payment Aggregators – Cross Border (PA-Cross Border) Introduction The Reserve Bank of India (RBI) has issued circulars to regulate payment aggregators and payment gateways. These circulars include guidelines on the regulation of payment aggregators and payment gateways dated March 17, 2020, and March 31, 2021, as well as circulars on the processing and settlement of export and import-related receipts facilitated by online payment gateways. Furthermore, specific approval has been given by the RBI […]

Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs) Introduction This article discusses the recent review of instructions related to bulk deposits for Regional Rural Banks (RRBs). The review aims to enhance the clarity and effectiveness of these instructions for better implementation. In this article, we will explore the changes made to the definition of “Bulk Deposit” for RRBs and the corresponding amendments to the Master Directions. Original Definition of “Bulk Deposit” According […]