Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA f | TaxLiner | Summarizing Laws

Tri-Weekly Summarized #Statutory News By Team, Join @HubofCA for Regular Updates:

• The RBI has decided to open a separate liquidity window of ₹15,000 crore with tenors of up to three years at the repo rate till March 31, 2022 for certain contact-intensive sectors i.e., hotels and restaurants; tourism – travel agents, tour operators and adventure/heritage facilities; aviation ancillary services – ground handling and supply chain; and other services.

• The ministry of Labour and Employment has issued draft Code on Social Security (Employee’s Compensation) (Central) Rules, 2021 wherein provision related to Form, manner and fee for application for claim or settlement, Rules to give effect to arrangements with other countries for the transfer of money paid as compensation and so on have been discussed in detail.

• The SEBI has enhanced overseas investments for mutual fund. As a result, Mutual Funds can make overseas investments subject to a maximum of US USD 1 billion per Mutual Fund, within the overall industry limit of US USD 7 billion.

• The Securities and Exchange Board of India (SEBI) and the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) have entered into a bilateral Memorandum of Understanding (MoU) for mutual co-operation and technical assistance. The objective of this MoU is to strengthen cross border co-operation in the area of securities regulation.

• The Central Board of Direct Taxes (CBDT) has notified Nodal officers of the State Police Agencies of Assam, Chhattisgarh, Punjab, Uttar Pradesh, West Bengal amp; Delhi Police as an Authority under section 138(1)(a)(ii) in connection with sharing of information through National Intelligence Grid (NATGRID) platform.