SEBI 

SEBI Board Meeting (SEP 30, 2022)

The SEBI Board met in Mumbai today and, inter-alia, took the following decisions: 

  1. Amendment to Mutual Funds Regulations to facilitate faster payout of redemptions and dividends to unitholders.
  2. Flexibility in approval process for appointment and / or removal of Independent Directors - Amendments to the SEBI (LODR) Regulations
  3. Amendments to SEBI (Real Estate Investment Trusts) Regulations, 2014 to allow reduction in minimum holding by sponsors
  4. Amendments to SEBI (Infrastructure Investment Trusts) Regulations, 2014 relating to unlisted InvITs
  5. Amendment to SEBI (Alternative Investment Funds) Regulations, 2012 to facilitate clarity in tenure of AIF schemes and requirements for change in manager/ sponsor
  6. Inclusion of units of Mutual Funds under the SEBI (Prohibition of Insider Trading) Regulations, 2015

For Press Release, Click Here

Ministry of Communications  

Prime Minister to launch 5G Services in India at 6th India Mobile Congress 2022 (SEP 30, 2022)

The launch of 5G services follows years of intense preparation. Recently, 5G spectrum auctions were conducted successfully and 51,236 MHz was allocated to Telecom Service Providers with a gross revenue of Rs. 1,50,173 Crores. 

The auction aggregated the demand for a robust 5G ecosystem that can cater to its use cases involving IoT, M2M, AI, Edge Computing, Robotics etc.

For Press Release, Click Here

DELHI HC 

Zee Media in High Court against I&B Ministry's order withdrawing permission to uplink channels on KU Band (SEP 30,2022)

Zee media has sought setting aside of the ministry's September 23 order and urged the court to restore the permission granted to it on October 31, 2019 to uplink its 10 channels simultaneously on Ku band.

By being on the GSAT-15 satellite, these channels were accessible on DD FreeDish, effectively making them free-to-air. According to the ministry, this gave Zee an unfair advantage over competitors.

For Details, Click Here

BUSNIESS AND FINANCE NEWS 

Rs 824 crore GST fraud detected; ICICI Prudential among 15 insurance firms under scanner (SEP 30, 2022)

The GST Intelligence, a law enforcement agency, has detected tax evasion of Rs 824 crore by 15 insurance companies, multiple intermediary marketing companies, multiple%C2%A0Non-Banking Financial Companies (NBFCs), and banks. They are accused of availing of input tax credit (ITC), without the underlying supply of goods and services.

The probe started after specific information against ICICI Prudential Insurance regarding availing of ineligible credit, sources in the%C2%A0DGGI (Directorate General of GST Intelligence) said on Thursday. 

For News Report, Click Here

NEWS AT GLANCE

  • Reserve Bank of India increases repo-rate by 50 basis points to 5.9 percent in a bid to check inflation.  
  • 5G services providing high-speed seamless coverage to be launched tomorrow.  
  • Lieutenant General Anil Chauhan assumes charge as 2nd Chief of Defence Staff.  
  • President Droupadi Murmu to present the 68th National Film Awards in New Delhi this evening.  
  • Russia to formally annex four regions of Ukraine today. 
  • Six airbag rule for passenger cars deferred by a year to October next year.  
  • India climbs to 40th rank in Global Innovation Index of World Intellectual Property Organization.

WORD OF THE DAY 

Voluntas in delictis non exitus spectatur - In offences the intent and not the result is looked at.

MARKET TODAY (as on 30.09.2022)

BSE SENSEX              57,426.92 ▲ 1,016.96 (1.80%)

NIFTY 50                     17,094.35 ▲ 276.25 (1.64%)

1 US Dollar = 81.38 Indian Rupee (Last updated · 30 September at 1:33 pm UTC)

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