STANDARD NORMS
Rau IAS Study Circle: MCD seals 13 'illegal' coaching centres in Old Rajinder Nagar
Rau IAS Study Circle: The Municipal Corporation of Delhi took action against 13 illegally operating coaching centres in Old Rajinder Nagar, sealing premises after three IAS aspirants died due to flooding. The centres, including IAS Gurukul and Rau's IAS Study Circle, violated basement usage rules. A high-level committee is being considered by Delhi Mayor Shelly Oberoi to address the violation.
Watch: Gen Z employee's creative 'out-of-office' video sets new standard for workplace communication
Joshua Kessel, a Gen Z marketing employee, has taken social media by storm with a humorous and creative out-of-office video that has garnered over 4.7 million views. Instead of a traditional email, Kessel crafted a video that includes playful effects and upbeat music, humorously addressing common queries while he is on vacation in Europe. Shared widely on TikTok and X, the video has sparked discussions about generational differences in workplace culture.
Nothing short of bigotry: Congress slams BJP as Muzaffarnagar order extends across UP, Uttarakhand
The Congress has criticized an order in Uttar Pradesh and Uttarakhand asking eateries along the Kanwar Yatra route to display their owners' names, calling it "mischief" and "bigotry". Priyanka Gandhi Vadra called the move an attack on the Constitution and demanded the order be withdrawn and strict action taken against the officials who issued it. Congress' media and publicity department head Pawan Khera called the orders "absolute mischief" and "nothing short of bigotry".
SMEs may get to turn the page in book of accounts; new norms likely to ease compliance burden
In its report submitted with the Ministry of Corporate Affairs (MCA), the committee has suggested raising the turnover limit to Rs 75 crore in any of the past three years to maintain and audit cost records.
DGCA issues safety standards for ground handling service providers
The DGCA has issued new safety standards for ground handling service providers (GHSPs) at airports to ensure safe operations amid rising air traffic. The regulations, effective from July 8, require GHSPs to obtain safety clearance within six months, appoint accountable managers, and ensure ground personnel undergo recurrent training
Norms issued for funding of testing facilities, infra for National Green Hydrogen Mission
The Ministry of New and Renewable Energy has released guidelines to fund testing facilities and infrastructure for the National Green Hydrogen Mission, aiming to develop standards and regulatory frameworks. The initiative will address gaps in existing testing facilities for green hydrogen and its derivatives, and support the establishment and enhancement of new testing facilities to ensure safe operations. With a budget of Rs 200 crore until 2025-26, the scheme is part of the Rs 19,744 crore allocated for the mission, with the National Institute of Solar Energy overseeing implementation.
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Norms soon on disposing of expired medicines
The document is in the final stages of completion. It will include procedures to be followed for disposal, collection, storage and transportation of expired and unused drugs. Improper disposal of medications that have crossed the expiry date mentioned on the label or not used by the individual for whom they were prescribed and purchased may be hazardous to public health, animal health and environment, officials said.
DGFT implements automated system for adhoc input-output norms fixation
The Directorate General of Foreign Trade (DGFT) has introduced a new automated system to establish adhoc input-output norms, aimed at facilitating foreign trade procedures. This initiative allows exporters to import duty-free raw materials for manufacturing goods meant for export under advance authorisation. Exporters can now apply for customized adhoc norms through a rule-based, automated process if standard norms do not meet their specific requirements.
Blade-like object in-flight meal: FSSAI issues improvement notice to TajSATS
FSSAI issued an improvement notice to TajSATS after a passenger found a blade in a meal on an Air India flight. The incident occurred on June 9, and FSSAI conducted an inspection at TajSATS Bengaluru.
SC mandate may halt fresh Ad releases
The Advertising Standards Council of India (ASCI) has urged advertisers and broadcasters to refrain from releasing new advertisements between June 18 and July 9, awaiting clarity from the Supreme Court on the self-declaration certificate (SDC) mandate. The Ministry of Information and Broadcasting (MIB) has instructed advertisers to submit SDCs before publishing, airing, or displaying new ads from June 18 onwards. Existing advertisements can continue to run, as SDCs are only required for new ads.
No financial irregularity, compliance violation within Co, says Suzlon as independent director quits
Suzlon Energy on Monday clarified that there are no financial irregularities or compliance violations within the organization, following the resignation of its independent director Marc Desaedeleer. Desaedeleer resigned on Saturday and raised corporate governance issues within the company in his resignation on June 8, 2024, as per a BSE filing.
RBI to come out with norms for securitising stressed loans
RBI is set to release final guidelines for securitisation of stressed assets, potentially initiating a junk bond market in India.
RBI releases finalised framework for Indian fintech sector's self-regulatory body
The Reserve Bank of India (RBI) has finalized a framework for self-regulatory organizations (SROs) in the fintech sector, considering stakeholder feedback on draft norms from January 15. These SROs will be industry-led, responsible for regulatory standards, ethical conduct, market integrity, dispute resolution, and fostering transparency, the central bank said in a statement.
Study Abroad: Challenges and opportunities for Indian students
Studying abroad has long been a cherished aspiration for many Indian students, offering opportunities for global careers and expanded knowledge. Despite the challenges posed by stricter immigration policies and increased scrutiny, the desire for international education remains strong. Factors driving this trend include the diversity of academic programs, global exposure, availability of scholarships, and access to advanced technology and innovation.
Delhi hospital fire: How unchecked private nursing homes thrive amid high costs & poor infra
The high costs of medical care at private corporate hospitals in Delhi, combined with inadequate infrastructure at government facilities, have led to a significant increase in the demand for private nursing homes. Unfortunately, these facilities often disregard regulations, with little effort from the administration to ensure compliance and accountability.
Jewellery exports: DGFT puts on hold on changes in maximum permissible wastage norms for gold, platinum, & silver content
DGFT has put on hold changes in wastage norms for gold, platinum, and silver content in jewellery exports following GJEPC's request for a balanced approach to minimize disruption and consider the impact on MSMEs.
India tightens permissible wastage norms for jewellery export
India has revised the permissible wastage amount for gold, platinum, and silver content in various categories of exports of jewellery items. The Directorate General of Foreign Trade (DGFT) amended the percentage of wastage by weight in plain jewellery to 0.5% for gold and platinum, and studded jewellery to 0.75%.
Govt rolls out mandatory quality norms for asbestos cement products
To safeguard the domestic small/micro industries and ensure smooth implementation of the QCO and ease of doing business, relaxations have been granted to small/micro industries as regards to timeliness. An additional nine months have been given to small industries and an additional 12 months to micro industries to meet the norms.
Govt working with spice makers to ensure EtO norm compliance; asks Everest to take corrective action
Government finds non-compliant Everest Spices with ethylene oxide, asks for corrective action. MDH samples compliant. Spices industry evolving to meet MRL requirements. Reports on recall of Indian spice brands in Singapore and Hong Kong due to ethylene oxide residue. Spices exports rose 12.27% to USD 405.62 million in April.
Tighter regulations on personal loans and project finance may hurt banks in FY25
Indian banks had a strong fiscal 2024 but face challenges in the current year due to regulatory changes impacting credit growth and net interest margins. Return ratios and riskier lending are also areas of concern as the market adapts.
Govt plans to make anti-fake review rules mandatory for e-commerce firms
The government issued the new quality norms for e-tailers a year ago, prohibiting them from publishing paid reviews and demanding disclosure of such promotional content.
Indian renewables may get costlier as RBI mulls changes
A top consultancy firm predicts that the Indian central bank's proposals on project financing may raise borrowing costs for renewables projects by up to 1%, potentially leading to increased wind and solar power prices. Lenders may have to reserve 5% of capital for infrastructure projects under construction, compared to the current 0.4% norm. As projects mature and start generating cash, the allocation can decrease to as low as 1%. These changes could make it harder for construction projects to secure financing, impacting the pace of renewable energy deployment as India aims to accelerate green energy installations to meet future goals.
PFC, REC shares fall up to 12%. CLSA says don't worry about impact of RBI norms
Shares of PSU financers PFC, REC, and IREDA tumbled up to 12% today as RBI raised provisioning requirements during the construction phase of projects from 0.4% to 5.0%. CLSA mentioned that while it doesn't anticipate an impact on the profit and loss account of PFC and REC, it could affect capital adequacy.
India has stringent norms for pesticide residue limits: FSSAI
The Food Safety and Standards Authority of India (FSSAI) stated that India maintains some of the strictest maximum residue limits (MRLs) for pesticides globally. MRLs are determined based on risk assessments for different food items.
India calls for norms to fix default maximum pesticides residue limit
In a submission to the WTO last week, India said that stringent MRLs can be trade-restrictive and act as non-tariff barriers to international trade, disproportionately affecting exporters from developing countries.
SBI, Standard Chartered do a CDS trade under new RBI norms
"This landmark transaction marks a pivotal moment in credit risk management and underscores the growing sophistication of financial instruments in the Indian market," said Parul Mittal Sinha, Head - Financial Markets, India, Standard Chartered Bank.
Govt to exclude 70 sizes, types of tyres from exemption list of mandatory quality control norms
The review of the list of tyres is a regular exercise to be carried out by IMC (inter-ministerial committee) for making suitable recommendations with regard to the exclusion/inclusion of the pneumatic tyres' sizes from the list of tyres not manufactured domestically. The DPIIT (Department for Promotion of Industry and Internal Trade) is in the process of notifying an updated list of 960 tyres' sizes/types by making necessary modifications to the previous list of 600 tyres.
Two pollution tests must for vehicles with flex fuel option
All bi-fuel vehicles with flex fuel option will have to undergo tests for both gaseous pollutants as well as particulate mass and number when seeking vehicle type approval under BS VI emission norms. However, hydrogen-run vehicles will have to undergo tests only for emissions of nitrogen oxide, the ministry of road transport and highways said in a notification on applicability of test requirements for type approvals.
Road Ministry notifies emission test standards for vehicles
In its recent notification dated January 5, 2024, the Ministry of Road Transport and Highway said all bi-fuel vehicles with flex fuel option will have to undergo tests for both gaseous pollutants as well as particulate mass and number while hydrogen-run vehicles will have to undergo tests only for emissions of nitrogen oxide.
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