Can AI Replace company Secretary in India? Artificial intelligence (AI) has the potential to simplify procedures and automate certain operations in a variety of sectors, including the business world. The position of a company secretary in India, it should be noted, covers a broad variety of duties that go beyond routine job completion. As of September 2021, my understanding limits, AI cannot fully replace the position of a corporate secretary in India, but it may […]

Sebi creates an ASBA-like mechanism for secondary market trading.   In an attempt to safeguard investors’ money from misuse and default by stock brokers, SEBI on Monday developed an alternative mechanism for trading in the secondary market based on frozen funds in an investor’s bank account, rather than providing them beforehand to the trading member. This is similar to an existing primary market feature known as Application Supported by Blocked Amount (ASBA), which ensures that […]

Investors will benefit from a standard technique for evaluating Alternate Investment Funds (AIFs) and liquidation scheme processes that was announced on Thursday by the market regulator Sebi. Sebi mandated that all AIF schemes be issued in demat form in three circulars. Existing AIFs with a capital of above Rs 500 crore as well as any future AIFs must dematerialize their units and issue them in demat form by October 31, 2023. By April 30, 2020, […]

Upstreaming of Client funds by Stock Brokers / Clearing members to CC Applicability from 1st July 2023   Operational requirement Open Bank accounts for Upstreaming and Down-streaming Upstreaming Client Nodal Bank Accounts (USCNBA) Down-streaming Client Nodal Bank Accounts (DSCNBA)   Bank account nomenclature For up-streaming – Name of the SB/CM – USCNBA Account For Down-streaming – Name of the SB/CM – DSCNB account   Open Client Nodal MFOS Account for subscription/redemption of MFOS   Upstreaming […]

AI replaces CA in India? The discipline of accounting is one where artificial intelligence (AI) has the potential to automate certain jobs and procedures. Although artificial intelligence (AI) might help accountants by automating repetitive operations like data input, transaction processing, and report preparation, it is doubtful that AI will ever totally replace the position of a Chartered Accountant (CA) in India. A Chartered Accountant’s duties go well beyond simple chores. In the areas of financial […]