RBI 

Introduction of Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems (16 FEB 2023)

Under the FCRA, 2010 (amended as on September 28, 2020), foreign contributions must be received only in the “FCRA account” of State Bank of India (SBI), New Delhi Main Branch (NDMB). The contributions to the FCRA account are received directly from foreign banks through SWIFT and from Indian intermediary banks through NEFT and RTGS systems.  

The instructions will be effective from March 15, 2023. These instructions are issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

NOTIFICATION : Reserve Bank of India - Notifications (rbi.org.in)

Ministry of Communications  

TRAI issues Directions to Access Providers to stop misuse of Headers and Message Templates, and to curb unauthorized promotions using Telecom Resources (16 FEB 2023 )

The Telecom Regulatory Authority of India (TRAI) under Ministry of Communications, in order to ensure that all promotional messages are sent through Registered Telemarketers (RTMs) using approved Headers and Message Templates on Distributed Ledger Technologies (DLT) platform, and also to stop misuse of Headers and Message Templates, has issued two separate Directions to Access Service Providers under Telecom Commercial Communication Customer Preference Regulations, 2018 (TCCCPR-2018) and the Telecom Regulatory Authority of India Act 1997 (24 of 1997).

PRESS RELEASE : https://pib.gov.in/PressReleasePage.aspx?PRID=1899849

NEWS AT GLANCE 

  • Union Home Minister Amit Shah says, Government to soon bring changes to IPC, CrPC and the Evidence Act.  
  • Finance Minister Nirmala Sitaraman says, Government assures relief of 2 lakh crore rupee additional guarantee free credit to MSMEs.  
  • Indian Army announces modification to the recruitment procedure for Junior Commissioned Officer, Other Ranks and Agniveers.

WORD OF THE DAY 

An a priori assumption is an assumption that is presumed to be true without any assessment of the facts or without further proof.

MARKET TODAY (as on 16.02.2023)

BSE SENSEX               61319.51(+44.42)     

NIFTY 50                      18035.85(+20.00)

1 US Dollar = 82.82 Indian Rupee (Last updated · 16 February at 4:58 pm UTC)

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