Notifications & Circulars

Ministry of Finance

23.06.2022

Customs

Anti-Dumping Investigation concerning imports of Certain Rubber Chemicals

MANU/REVU/0047/2022

1. The undersigned is directed to refer to anti-dumping investigation final findings on the above subject issued vide notification F. No. 6/4/2021-DGTR, dated the 30th March, 2022, wherein it was recommended to impose anti-dumping duty on imports of Certain Rubber Chemicals viz., TDQ originating in or exported from China PR, European Union and Russia, PVI originating in or exported from China PR, and CBS originating in or exported from China PR and European Union.

2. In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, after considering the final findings of the designated authority, has decided not to accept the aforesaid recommendations.

Tags : Anti-Dumping Investigation Imports

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Reserve Bank of India

23.06.2022

Banking

Draft Master Direction on Outsourcing of Information Technology (IT) Services

MANU/RPRL/0258/2022

1. Regulated Entities (REs) have been extensively leveraging Information Technology (IT) and IT-enabled services (ITeS) in their business, products and services with increasing dependence on third parties. Such reliance on IT/ITeS provided by third parties exposes the REs to various risks.

2. It was announced in the Statement on Developmental and Regulatory Policies, released with the bi-monthly Monetary Policy Statement dated February 10, 2022, that draft guidelines on risk management framework for Outsourcing of IT Services, managing related concentration risk, its periodic risk assessment and aspects of outsourcing of IT Services to foreign service providers, will be issued by the Reserve Bank of India.

3. Accordingly, the Reserve Bank has released a draft Master Direction on Outsourcing of IT Services, for comments of stakeholders and members of public.

4. Comments / feedback from REs and other stakeholders may be submitted by July 22, 2022 through email with the subject line 'Feedback on Master Direction on Outsourcing of IT Services'. The final Master Direction shall be issued by Reserve Bank after considering the feedback received.

Tags : Master Direction Outsourcing IT Services

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Securities and Exchange Board of India

22.06.2022

Capital Market

Securities and Exchange Board of India (Employees' Service) (Second Amendment) Regulations, 2022

MANU/SREG/0029/2022

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Employees' Service) Regulations, 2001, namely: -

1. These regulations may be called the Securities and Exchange Board of India (Employees' Service) (Second Amendment) Regulations, 2022.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities and Exchange Board of India (Employees' Service) Regulations, 2001--

I. in the Table below the Schedule, in column 3, the words, numbers and symbols, "Bachelor's Degree in Engineering (electrical/ electronics/ electronics and communication/ information technology/ computer science)/ Masters in Computers Application/ Bachelor's Degree in any discipline with a post graduate qualification (minimum 2 years duration) in computers/ information technology for officers in Technical Stream" shall be substituted with the words, numbers and symbols, "Bachelor's Degree in Engineering in any discipline or Bachelor's Degree in any discipline with a post graduate qualification (minimum 2 years duration) in computer application/ information technology from a recognized University/ Institute for officers in Information Technology Stream".

Tags : Employees' Service Second Amendment Regulations

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Ministry of Finance

22.06.2022

Excise

Restrictions on import of products made of plastic

MANU/CUST/0044/2022

1. Kind attention is invited to letter No. B-17011/7/UPC-II-PWM (MLP)/2021/12900 dated 01.02.2022 received from Ministry of Environment, Forest & Climate Change (MoEFCC) bringing into attention the changes in Plastic Waste Management Rules notified vide its Notification dated 12.08.2021 (G.S.R. 571(E)) (copy enclosed) and Plastic Waste Management (Amendment) Rules, 2022 notified vide Notification dated 16.02.2022 (Copy enclosed).

2. The key changes in the notification dated 12.08.2021, relating to import are listed below:

(i) Rule 4(1)(c): Carry bag made of virgin or recycled plastic, shall not be less than seventy-five microns in thickness with effect from the 30th September, 2021 and one hundred and twenty (120) microns in thickness with effect from the 31st December, 2022.

(ii) Rule 4(2): The manufacture, import, stocking, distribution, sale and use of following single use plastic (SUP), including polystyrene and expanded polystyrene, commodities shall be prohibited with effect from the 1st July, 2022:

(a) Ear buds with plastic sticks, plastic sticks for balloons, plastic flags, candy sticks, ice-cream sticks, polystyrene [Thermocol] for decoration.

(b) Plates, cups, glasses, cutlery such as forks, spoons, knives, straw, trays, wrapping or packing films around sweet boxes, invitation cards, and cigarette packets, plastic or PVC banners less than 100 micron, stirrers.

(iii) Rule 4(3): The provisions of sub-rule (2) (b) shall not apply to commodities made of compostable plastic.

3. Further, Rule 6 of the Plastic Waste Management (Amendment) Rules, 2022 prescribes registration of importers of plastic packaging product or products with plastic packaging or carry bags or multi-layered packaging or plastic sheets, on a centralized portal developed by CPCB and Rule 7.3 prescribes extended producer responsibility and obligations of Importers.

4. It is requested that necessary action may be taken to sensitize officers under your jurisdiction regarding the above-mentioned prohibitions and restrictions with respect to import of items made of plastic.

Tags : Restrictions Import Plastic products

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Reserve Bank of India

21.06.2022

Banking

Extension of timeline for implementation of certain provisions of Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022

MANU/RMIC/0115/2022

1. This is with reference to paragraph 1 (b) of the Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022 ("Master Direction") dated April 21, 2022, wherein the Reserve Bank had prescribed a timeline of July 01, 2022, for implementation of the provisions of the Master Direction.

2. Considering various representations received from the industry stakeholders, it has been decided to extend the timeline for implementation of the following provisions of the Master Direction to October 01, 2022:

a) Paragraph 6(a)(vi) - Card-issuers shall seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance. If no consent is received for activating the card, card-issuers shall close the credit card account without any cost to the customer within seven working days from date of seeking confirmation from the customer.

b) Paragraph 6(b)(v) - Card-issuers shall ensure that the credit limit as sanctioned and advised to the cardholder is not breached at any point in time without seeking explicit consent from the cardholder.

c) Paragraph 9(b)(ii) - No capitalization of unpaid charges/levies/taxes for charging/ compounding of interest.

3. The stipulated timeline for implementation of rest of the provisions of the Master Direction remains unchanged.

Tags : Extension Implementation Provisions

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Press Information Bureau

21.06.2022

Banking

Collaboration with Banks for creation of integrated Pensioners' Portal to enhance 'Ease of Living' of Pensioners

MANU/PIBU/2611/2022

A two day Bankers' Awareness Program was organized by Department of Pension & Pensioners' Welfare at Udaipur on 20th & 21St June, 2022 for officers of State Bank of India handling pension related work, covering the Northern Region of the country.

A team of officers from DoPPW took sessions on Pension policy reforms& digitization regarding disbursement of pension to Central Government pensioners, with the objective of updating the field functionaries of State Bank of India. Special sessions were organized on Income Tax matters related to pensioners as well as Digital means of submitting the Annual Life Certificates. Chief Controller (Pension), CPAO shared the reasons which are a cause for pensioner's grievances and suggested actions which may be taken by the bank for redressal.

It was decided that immediate efforts are needed for creation of Integrated Pension Portal by linking DoPPW and SBI existing portals to provide seamless services to pensioners. Awareness of field officials & Pensioners are of utmost importance to ensure the benefits of Government of India's welfare measures. Face authentication technology for Digital Life Certificate may be advertised extensively by Banks. Department of Pension & Pensioners' Welfare will take policy initiatives to address issues faced by field officials and pensioners. Digital life certificate and face authentication technology would be a game changer for pensioners and banks in submission of life certificates. These awareness programs would serves as huge capacity building exercise for bank officials.

This program was the first in a series of Awareness Programs for Central Pension Processing Centers and field functionaries handling pension related work in various bank. It is expected that through these programs, the objective of enhancing 'Ease of Living' of pensioners will be achieved to a great extent. Four such awareness programs will be conducted in collaboration with State Bank of India to cover the whole country. On similar lines, awareness programs will be conducted in collaboration with other Pension Disbursing Banks in year 2022-23.

Bankers' Awareness Program, Udaipur, 20th & 21st June, 2022 was concluded by closing address by Sh. Sanjiv N. Mathur, Joint Secretary, Department of Pension & Pensioners' Welfare. Detailed feedback was taken from bank officers on various policy issues to make proactive changes to ensure "Ease of Living" for pensioners. 50 officers from northern zone from CPPCs and pension dealing branches were awarded certificate of Participation during valediction ceremony.

Tags : Collaboration Creation Pensioners' Portal

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