DRAFT
RBI issues draft norms to rationalise export-import transactions
Banks under new regulations can flag exporters with outstanding amounts, ensuring timely realization of proceeds. Transparency and efficiency are prioritized in export-import transactions, benefiting businesses of all sizes.
Coal Ministry seeks view on draft coal, lignite mining plan norms
In a groundbreaking move, draft guidelines propose transitioning to advanced technologies for sustainable coal mining, focusing on land restoration and mechanized mining over manual methods. The industry is poised for a transformative shift towards more efficient and environmentally friendly practices.
UP cabinet passes draft of UP NIRMAN Bill-2024 to attract investors
The Uttar Pradesh government passed the draft of the Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024 in a bid to boost the state's economy to one trillion dollars. The bill aims to create Special Investment Regions (SIRs) to attract big investors. The decision will promote economic development, ease of doing business, and create new job opportunities. Additionally, the cabinet approved a proposal for a Memorandum of Understanding between ITPO and MSME to encourage industrial investment.
Revised mining guidelines to introduce stringent steps to optimise coal extraction: Ministry
The revised mining plan guidelines aim to optimise coal extraction through stringent measures, balancing flexibility for mine owners with responsibility and accountability. The guidelines were discussed during a stakeholders' consultation with 25 coal and lignite mining companies, including PSUs and representatives from various states. The new guidelines focus on sustainable coal mining by including restoration, remediation, and regeneration measures to address environmental and community concerns.
Australia gives internet firms 6 months to draft online child safety rules
The eSafety Commissioner requested online industry members to submit a plan by October 3 outlining measures to shield minors from encountering high-impact content prematurely, covering themes such as suicide and eating disorders. The code should establish criteria for app stores, websites (including pornography and dating sites), social media platforms, and multiplayer gaming platforms to verify user content suitability, stated the commissioner.
Health insurer Niva Bupa, Sagility India files draft papers with Sebi for IPOs
The IPO, with each share having a face value of Rs 10, consists of a fresh issuance worth Rs 800 crore and an offer for sale totaling up to Rs 2,200 crore by the promoters and existing investors. As part of the OFS, Bupa Singapore Holdings and Fettle Tone will be divesting their stakes.
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Sagility India files draft papers; seeks Sebi's nod to float IPO
The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.
Enviro Infra Engineers files draft papers to mop up funds via IPO
Proceeds from the fresh issue to the tune of Rs 181 crore will be used to meet the working capital requirements, Rs 100 crore will be used for payment of debt, Rs 30 crore will be infused into the company's subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh.
Ukrainian President Zelenskyy drafting 'comprehensive plan' to end war with Russia
Ukrainian President Volodymyr Zelenskyy announced the creation of a comprehensive plan, aiming for global support to end the conflict with Russia. During a news conference in Kyiv with Slovenian President Natasa Pirc Musar, Zelenskyy emphasized the importance of diplomatic efforts, despite the absence of current negotiations. He reiterated Ukraine's stance that Russia must withdraw from all occupied territories, including Crimea, for peace talks to commence. Recently, Zelenskyy gathered international backing at a summit in Switzerland, highlighting Ukraine's territorial integrity.
Trust Mutual Fund files draft document with Sebi for small cap fund
Targeting long-term growth, this new scheme primarily invests in small-cap equities, benchmarked against Nifty Smallcap 250 TRI. Mihir Vora and Aakash Manghani will manage the portfolio.
2024 NBA Draft: Top rookies in contention this year, a complete list
The 2024 NBA Draft is already underway with the first round already over, leading to some extensive surprises, that left the audience present at the Barclays Arena gasping. Here is a complete list of the 2024 NBA Draft's top contentions and how they may fare ahead in the NBA season.
2024 NBA Draft: First round picks see some big surprises
The 2024 NBA draft has already begun and the first round were filled with total surprises, some of which were met with gasps and reactions from the audience present at the event. What was so interesting about these draft picks?
Israeli supreme court says ultra-Orthodox must serve in military
Israel's Supreme Court ruled that ultra-Orthodox men must be drafted for military service like other citizens, potentially shaking Prime Minister Benjamin Netanyahu's coalition amid the Gaza conflict. The decision, aimed at ending exemptions for seminary students, highlights a longstanding divide between secular and religious sectors over military service.
Centre urges states to align labour rules with model guidelines, WB asked to draft rules for all labour codes
The Centre has urged West Bengal to expedite the drafting of rules under the four Labour Codes, emphasizing the benefits for all societal sections, including women and migrant workers. The Centre reassured Delhi and Tamil Nadu that existing state schemes will remain unaffected post-implementation. Labour secretary Sumita Dawra led discussions on state readiness and rule alignment.
Govt issues draft guidelines to curb unsolicited biz messages, calls; seeks public comments
Consumer Affairs Ministry seeks public comments on draft guidelines to curb unsolicited and unwanted business communications like promotional calls and text messages until July 21.
Emcure Pharmaceuticals receives SEBI nod for its IPO launch
Emcure Pharmaceuticals received SEBI nod for IPO launch after filing DRHP in December 2023. The IPO includes equity shares and an Offer of Sale by promoters. Proceeds will be used for debt payment. Emcure Pharmaceuticals is renowned for its global marketing of pharmaceutical products.
Citing overlaps, experts seek rejig of Digital Competition Bill
The ministry of electronics and information technology continued discussions on the digital competition bill with think tanks and industry bodies raising concerns about foreign regulation approaches. The impact on startups and overlap with existing laws were highlighted.
DERC releases draft regulation for green power obligations on discoms
The DERC has issued draft regulations mandating a 29.91% green energy purchase for stakeholders in 2024. RPOs require electricity distribution licensees to buy energy from renewable sources.
G7 opposes China's 'dangerous' S. China Sea forays: draft statement
"We continue opposing China's dangerous use of coastguard and maritime militia in the South China Sea and its repeated obstruction of countries' high seas freedom of navigation," it said.
If I don’t get this job, I would never marry my childhood love because...: Bengaluru CEO shares response on job application
Arva Health CEO, Dipalie Bajaj, shared a job-seeker's unique answer on X about marrying his childhood love for a job opportunity.
How to prevent Big Tech dominance, protect privacy and ensure fair competition
The magnitude, scale and speed at which such platforms operate demand ex ante regulation, if the real interests of consumers are to be protected.
MeitY to discuss digital competition bill draft with industry associations
The government is holding meetings to address concerns about the draft Digital Competition Bill, which proposes obligations for big tech companies in core digital services under a new category of systemically significant digital enterprises.
Antitrust regulator proposes to grant more time to DG for probe report
Draft amendments to CCI General Regulations propose extending time for key investigator to submit probe report in antitrust cases, facilitating thorough investigation in emerging economy sectors.
Ukraine further restricts draft-age men from leaving: officials
Ukrainian men of draft age with permanent residency in other countries are now restricted from leaving Ukraine, as the country seeks to bolster its armed forces. Previously, men aged 18 to 60 with residency abroad could travel freely. This change aligns them with other Ukrainian men of military age, who face travel restrictions unless meeting specific criteria. The US Embassy in Kyiv advised citizens affected by this change to consider their travel plans carefully.
Franklin Templeton Mutual Fund and Nippon India Mutual Fund file drafts for new funds
Franklin Templeton Mutual Fund and Nippon India Mutual Fund have filed draft documents with Sebi for three debt funds and two index funds.
Handwritten manuscript of Camus' 'The Stranger' may fetch 800k euros at auction
The 104-page draft is expected to reach between 500,000 and 800,000 euros at the Tajan auction house in Paris.
RBI, payment industry meet discusses contours of new draft PA guidelines
The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withdrawing from the domestic payments market in India.
Insurers worried over surrender value rule
Life insurance companies have expressed concerns over proposed regulatory changes that would offer higher surrender values to policyholders the first year itself. Industry representatives have sent their feedback saying that these reforms could severely impact profitability and policy persistence.
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