SEBI Accelerates Bonus Share Trading Under T+2 Timeline Introduction Beginning October 1, 2023, bonus shares will be available for T+2 trading, significantly reducing the time from the record date for credit and trading. This initiative by the Securities and Exchange Board of India (SEBI) aims to enhance the efficiency and effectiveness of the bonus share issuance process. Overview of SEBI’s Circular In a recent circular, SEBI announced the acceleration of the bonus issue process for […]

RBI Issues Monetary Fines for KYC Non-Compliance Introduction On September 14, 2024, the Reserve Bank of India (RBI) announced the imposition of monetary penalties on three non-banking financial companies (NBFCs) for regulatory lapses and non-compliance with various RBI directives. This action highlights the ongoing need for stringent adherence to guidelines to ensure financial stability and customer protection. Companies Penalized The RBI’s notifications indicated penalties issued between September 3 and September 11, 2024, targeting the following […]

Government’s Proactive Measures in Companies Act Amendment Enhancing Financial Compliance and Capital Accessibility The government is poised to implement significant changes to the Companies Act to facilitate easier access to capital for bankrupt entities while reinforcing the regulatory framework surrounding statutory audits. This initiative stems from ongoing efforts to optimize financial compliance and foster a more robust business environment. Key Legislative Changes and Clarifications Enhanced Auditor Independence Norms: In light of recent audit lapses, particularly […]

Ensuring Food Safety During Festivals: FSSAI’s Vigilance Mandate The Food Safety and Standards Authority of India (FSSAI) has mandated strict oversight on the manufacture and sale of sweets and milk-based products, particularly during the festive season. This initiative aims to prevent adulteration and ensure consumer safety. Key Directives from FSSAI Increased Vigilance FSSAI has directed state and Union Territory officials to heighten surveillance on the production and sale of: Sweets Savouries Milk products (including ghee, […]

AI in Action: How Startups are Innovating on the Salesforce Platform Introduction AI advancements are transforming industries, but their true power is harnessed through practical solutions that enhance organizational efficiency. Salesforce excels in this domain by serving as a catalyst for AI adoption, enabling startups to innovate and build cutting-edge solutions, ultimately driving business growth. Highlights from Mint’s Series ‘All About AI’ In the third episode of Mint’s ‘All About AI’ series, hosted by Abhishek […]