Ministry of Finance
Sovereign Gold Bond Scheme 2022-23 (Series I) – Issue Price ( JUNE 20, 2022 )
In terms of Government of India Notification No.4(6)-B(W&M)/2022 dated June 15, 2022, Sovereign Gold Bonds 2022-23 (Series I) will be opened for subscription during the period June 20-24, 2022 with Settlement date June 28, 2022. The issue price of the Bond during the subscription period shall be Rs. 5,091 (Rupees five thousand ninety one only) per gram, as also published by RBI in their Press Release dated June 17, 2022.
Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs. 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs. 5,041 (Rupees five thousand forty one only) per gram of gold.
SEBI
Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors – Bank account details to which the payment is to be done electronically ( JUNE 21, 2022 )
‘Annexure D’ of the ‘Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors’, inter-alia, specifies Bank account details for remittance of various payment of various SEBI fees in US $.
In order to facilitate faster confirmation of remittances by the intermediaries, necessary arrangement has been made for foreign inward remittances in the following account:
|
Name of the Bank Account |
Securities and Exchange Board of India |
|
Name of Bank, Branch |
ICICI Bank Ltd., Bandra Kurla Complex, Bandra (East), Mumbai 400051 |
|
Bank Account No. |
055501001994 |
|
IFSC Code |
ICIC0000555 |
|
MICR Code No. |
400229029 |
|
Swift Code No. |
ICICINBBNRI |
The provisions of this circular shall be applicable with effect from June 24, 2022.
This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
RBI
Extension of timeline for implementation of certain provisions of Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (JUNE 21, 2022)
Considering various representations received from the industry stakeholders, it has been decided to extend the timeline for implementation of the following provisions of the Master Direction to October 01, 2022:
Paragraph 6(a)(vi) - Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance. If no consent is received for activating the card, card-issuers shall close the credit card account without any cost to the customer within seven working days from date of seeking confirmation from the customer.
Paragraph 6(b)(v) - Card-issuers shall ensure that the credit limit as sanctioned and advised to the cardholder is not breached at any point in time without seeking explicit consent from the cardholder.
Paragraph 9(b)(ii) - No capitalization of unpaid charges/levies/taxes for charging/ compounding of interest.
Please refer to paragraph 1 (b) of the Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (“Master Direction”)
For Official Notification, Click Here
DELHI HIGH COURT
Cheating Rogue Websites Stopped From Using Amazon Logo: Delhi High Court (JUNE 20 , 2022)
The Delhi High Court has restrained several rogue websites from using the trademark of the online marketplace Amazon and its logos or any deceptive variant which is identical to the original mark, noting that the activities of these sites are leading to financial loss to the innocent public.
The high court said it was of the view that the plaintiffs, Amazon Seller Services Private Limited and its other companies have made out a prima facie case for grant of ex parte ad-interim injunction.
The high court's interim order came while hearing a suit filed by Amazon Sellers Services Private Limited and its affiliates, submitting that the rogue defendants have engaged in a pre-planned conspiracy to defraud and dupe innocent people by unauthorizedly and illegally using the plaintiffs' marks, on the rogue websites and social media pages operated by them or as part of the domain name registered by them.
ANDHRA PRADESH HIGH COURT
Online ticketing system: High Court issues notices (JUNE 21, 2022)
It's known that the Andhra Pradesh government wants all cinema tickets to be sold via a government-backed portal in the State. In this regard, Big Entertainment last year filed a petition in the AP High Court, saying that the new rule is against the freedom of private business.
In this regard, the court today issued notices on Andhra Pradesh State Film, Television and Theatre Development Corporation, besides also asking the AP Technology Services and the Secretaries of the Home Ministry, Legal Department, to give a counter.
The decision taken by the YS Jaganmohan Reddy government has not been to the liking of multiplex owners as well as single-screen owners in the State. Even BookMyShow filed a petition with the court, saying that the government can't take over the ticket booking system. The burden of 2% service charge is not in the interests of both customers and private parties.
Next hearing on the matter will take place on June 27.
WORLD AFFAIRS
2 former Tesla employees have filed a lawsuit against the company claiming its mass layoffs violated federal law ( JUNE 21, 2022 )
On June 2, Tesla CEO Elon Musk sent an internal email to executives saying he had a "super bad feeling" about the economy and saying the company needed to terminate about 10% of its workforce, according to Reuters. Lynch and Hartsfield, who filed the lawsuit, said at least 500 of their coworkers in Nevada lost their jobs at around the same time, the document showed.
The court document showed the plaintiffs stated Tesla's actions violated the Worker Adjustment and Retraining Notification Act, which requires employers to notify workers at least 60 calendar days in advance before shutting down a plant or laying off 50 or more workers at the same site.
Tesla employed about 100,000 people globally at the end of 2021, according to a Securities and Exchange Commission filing.
WORD OF THE DAY
Class action lawsuits are legal actions taken against a defendant by several individuals as a group. These lawsuits help eliminate the need for several small claims being filed against a single defendant.
Class action lawsuits can be based on allegations of defective products, false advertising, discrimination, unlawful employment practices, or other causes.
NEWS AT GLANCE
Government amends guidelines for Production linked incentive (PLI) Scheme for Telecom and Networking Products.
Pakistan releases 20 Indian fishermen through Attari Wagah border as goodwill gesture.
18-member Indian Men’s Hockey squad for Commonwealth Games 2022 announced.
- In Maharashtra, a group of Shiv Sena MLAs led by Eknath Shinde come out in protest against Uddhav Thakre led government.
- In Bihar, the East Central Railway resumes long distance trains from today.
- In Assam, the flood situation improves slightly in Brahmaputra valley due to improved weather conditions.
Bhikkhu Sanghasena from Ladakh and Marcus Vinicius Rojo Rodrigues from Brazil, one organisation from UK and onther from Uttarakhand chosen for Prime Minister's award for outstanding contribution for promotion of Yoga 2021.
Election Commission delists 111 additional Registered Unrecognised Political Parties.
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