January Updates:
Fire Detection and Protection system in passenger compartment in buses vide Central Motor Vehicles (First Amendment) Rules, 2022
On January 27, 2022, the Ministry of Road Transport and Highways (MoRTH) has issued the Central Motor Vehicles (First Amendment) Rules, 2022 to further amend the Central Motor Vehicles Rules, 1989.
Pecuniary jurisdiction of District, State and National Commissions revised vide Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021
On December 30, 2021, the Central Government notified Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021 in order to revise the pecuniary jurisdiction of District Commission, the State Commission and the National Commission.
RBI modifies Basel III Framework on Liquidity Standards
On January 06, 2022, the Reserve Bank of India has issued a circular to increase the threshold limit for deposits and other extensions of funds made by non-financial Small Business Customers from ₹ 5 crore to ₹ 7.5 crore for the purpose of maintenance of Liquidity Coverage Ratio (LCR).
SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022
On January 25, 2022, the Securities and Exchange Board of India SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003.
FOR MORE UPDATES FROM THE MONTH OF JANUARY ALSO READ.
February Updates:
Provision relating to safety measures for children below four years introduced vide Central Motor Vehicles (Second Amendment) Rules, 2022
On February 15, 2022, the Ministry of Road Transport and Highways has issued the Central Motor Vehicles (Second Amendment) Rules, 2022 to further amend the Central Motor Vehicles Rules, 1989 in order to prescribe norms related to safety measures for children below four years of age, riding or being carried on a motor cycle. Further, it specifies use of a safety harness and crash helmet. It also restricts speed of such motor cycles to 40 kmph.
Producer’s responsibility for plastic packaging extended vide Plastic Waste Management (Amendment) Rules, 2022
On February 16, 2022, the Ministry of Environment, Forest and Climate Change extended producers’ responsibility for plastic packaging by Plastic Waste Management (Amendment) Rules, 2022. The Central Government has issued guidelines under Plastic Waste Management Rules, 2016 in Schedule-II. These guidelines shall come into force with immediate effect.
New brick kilns allowed with zig-zag technology vide Environment (Protection) Amendment Rules, 2022
On February 22, 2022, the Ministry of Environment, Forest and Climate Change (MoEFCC) has notified the Environment (Protection) Amendment Rules, 2022 to further amend the Environment (Protection) Rules, 1986.
Aadhaar (Authentication and Offline Verification) (First Amendment) Regulations, 2022
The Unique Identification Authority of India notifies Aadhaar (Authentication and Offline Verification) (First Amendment) Regulations, 2022 to further amend the Aadhaar (Authentication and Offline Verification) Regulations, 2021.
FOR MORE UPDATES FROM THE MONTH OF FEBRUARY ALSO READ.
March Updates:
Regulating crypto currencies vide Finance Act, 2022
On 30th March, 2022, Central Government passed Finance Act, 2022 for the financial year 2022-2023. Finance Act will be effective from 1st April 2022.
Implementation of new labelling norms extended vide Legal Metrology (Packaged Commodities) Amendment Rules, 2022
On March 28, 2022, the Ministry of Consumer Affairs, Food and Public Distribution (MoCAFPD) has issued the Legal Metrology (Packaged Commodities) Amendment Rules, 2022 to further amend the Legal Metrology (Packaged Commodities) Rules, 2011. This shall come into force on October 1, 2022.
Compensation to kin of victims of hit and run accidents increased w.e.f April, 2022; Scheme for compensation to victims notified
On February 25, 2022, the Central Government has notified Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2022. This shall come into force on April 1, 2022.
RBI issues framework for geo-tagging of payment system touch points
On March 25, 2022, the Reserve Bank of India (RBI) has issued a notification to provide the Framework for Geo-tagging of Payment System Touch Points to facilitate nuanced spread of acceptance infrastructure and inclusive access to digital payments.
FOR MORE UPDATES FROM THE MONTH OF MARCH ALSO READ.
April Updates:
CBDT notifies manner for filing updated return of income and Form ITR-U vide Income-tax (Eleventh Amendment) Rules, 2022
On April 29, 2022, the Central Board of Direct Taxes (CBDT) has issued the Income-tax (Eleventh Amendment) Rules, 2022 to amend the Income-tax Rules, 1962 and introduces manner for filing updated return of income and Form ITR-U (ITR for updated return).
Criminal Procedure (Identification) Bill, 2022 receives President’s assent
On April 18, 2022, the Criminal Procedure (Identification) Bill, 2022 has received President’s assent in order to authorise the law enforcement agencies for taking measurements of convicts and other persons for the purposes of identification and investigation in criminal matters and to preserve records.
RBI notifies Master Direction on penal provisions in deficiencies in reporting of transactions/ balances at currency chests
On April 01, 2022, the Reserve Bank of India (RBI) has issued Master Direction on Penal Provisions in deficiencies in reporting of transactions/ balances at Currency Chests.
RBI introduces Master Directions – RBI (Credit Card and Debit Card-Issuance and Conduct) Directions, 2022
On 21st April, 2022, Reserve Bank of India issued Master Directions–RBI (Credit Card and Debit Card- Issuance and Conduct) Directions, 2022. Enforceable from 1st July 2022, these directions regulate the conduct of Credit/Debit payments in Banks and Non-Banking Financial Companies (NBFCs).
FOR MORE UPDATES FROM THE MONTH OF APRIL ALSO READ.
May Updates:
Government notifies sporting events of national importance
On May 09, 2022, the Central Government has notified the following events as sporting events of national importance.
Base premium for third party insurance for unlimited liability revised vide Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022
On May 25, 2022, the Ministry of Road Transport and Highways, in consultation with the Insurance Regulatory and Development Authority of India, has published Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 in order to revise the base premium for third party insurance for unlimited liability.
Process of Documentation defined vide Payment of Family Pension (Submission of Documents) Rules, 2021
On 11th May, 2022, Joint Committee of Parliament issued Payment of Family Pension (Submission of Documents) Rules, 2021. In exercise of the powers under Sec. 9(3)(g) of Salary, Allowances and Pension of Members of Parliament Act, 1954 (Act), Central Government has regulated the payment of daily and travelling allowances and pensions of members of Parliament.
Use of Low Power Radio Frequency Devices in the frequency band 433.05 to 434.79 MHz (Exemption from License) Rules, 2022
On May 9, 2022, the Central Government has notified the Use of Low Power Radio Frequency Devices in the frequency band 433.05 to 434.79 MHz (Exemption from License) Rules, 2022.
FOR MORE UPDATES FROM THE MONTH OF MAY ALSO READ.
June Updates:
FSSAI directs e-commerce food business operators for display of nutritional information on their website
On June 14, 2022, the Food Safety and Standards Authority of India has directed the E-commerce Food Business Operators to get the requisite nutritional information from the respective food business operators and display the same on their website wherever applicable.
Surrogacy (Regulation) Rules, 2022
The Central Government has notified Surrogacy (Regulation) Rules, 2022 which provides Form and manner for registration and fee for a surrogacy clinic and the requirement, and qualification for persons employed, at a registered surrogacy clinic.
Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022
The Central Consumer Protection Authority has issued Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022 to provide for the prevention of false or misleading advertisements and making endorsements.
Electricity (Late Payment Surcharge and Related Matters) Rules, 2022
The Central Government in exercise of powers conferred Section 176(1) of the Electricity Act, 2003 and in supersession of the Electricity (Late Payment Surcharge) Rules, 2021 has notified Electricity (Late Payment Surcharge and Related Matters) Rules, 2022.
FOR MORE UPDATES FROM THE MONTH OF JUNE ALSO READ.
July Updates:
CCPA issues Guidelines to prohibit automatic levy of service charge in hotels and restaurants
On 04-07-2022, the Central Consumer Protection Authority (‘CCPA’) has issued Guidelines to prevent unfair trade practices and to protect the consumer interest with regard to levy of service charge in hotels and restaurants.
Provision for Work from Home for the Unit introduced vide SEZ (Third Amendment) Rules, 2022
On 13-07-2022, the Ministry of Commerce and Industry has issued the Special Economic Zones (Third Amendment) Rules, 2022 to further amend the Special Economic Zones Rules, 2006. A new Rule 43A has been introduced which provides that a Unit may permit its employees, including contractual employees, to work from home or from any place outside the Special Economic Zone.
FSSAI issues Guidelines for submission of applications for endorsement of vegan logo
On 25-07-2022, FSSAI has issued Guidelines for submission of applications for endorsement of vegan logo in exercise of power conferred by sub-regulation 5 of FSS (Vegan Foods) Regulations, 2022.
Use of biodegradable plastic, introduced vide Plastic Waste Management (Second Amendment) Rules, 2022
On 6-07-2022 the Ministry of Environment, Forest and Climate Change further amended the Plastics Waste Management Rules, 2016 by adding a second amendment named Plastic Waste Management (Second Amendment) Rules, 2022.
FOR MORE UPDATES FROM THE MONTH OF JULY ALSO READ.
August Updates:
Establishment of Family Courts in Himachal Pradesh and Nagaland vide the Family Courts (Amendment) Act, 2022
On 12-8-2022 the Ministry of Law and Justice notified the Family Courts (Amendment) Act, 2022 to further amend the Family Courts Act, 1984.
Battery Waste Management Rule, 2022
On 22-08-2022, Ministry of Environment, Forest and Climate Change has notified Battery Waste Management Rule, 2022 for management of waste, produced by batteries in the environment. The Rules will replace Batteries (Management and Handling) Rules, 2001.
RBI issues Master Circular- Credit facilities to Scheduled Castes & Scheduled Tribes
On 01-08-2022, the Reserve Bank of India (‘RBI’) issued Master Circular — Credit facilities to Scheduled Castes (‘SC’) & Scheduled Tribes (‘ST’) to help the SCs/ STs by increasing self-employment, generate income to make themselves self- liquidating and help in easy loan sanctioning.
RBI notifies change in Bank Rate
On 05-08-2022, the Reserve Bank of India has issued a notification regarding the change in the bank rate. The Bank Rate is revised upwards by 50 basis points from 5.15 per cent to 5.65 per cent.
FOR MORE UPDATES FROM THE MONTH OF AUGUST ALSO READ.
September Updates:
New Form ITR-A for successor entities to furnish their return of income, notified vide Income-tax (31st Amendment) Rules, 2022
On 19-09-2022, the Ministry of Finance has notified the Income-tax (31st Amendment) Rules, 2022 in order to amend Income-Tax Rules 1962 which will come into force from 01-11-2022.
Government re-designates title of Assistant Solicitor General of India as Deputy Solicitor General of India
The Central Government has notified the re-designation of Assistant Solicitor General of India as Deputy Solicitor General of India for future references.
Criminal Procedure (Identification) Rules, 2022
The Central Government has notified Criminal Procedure (Identification) Rules, 2022 in order to specify the procedure for taking measurements of convicts and other persons for the purposes of identification and investigation in criminal matters and to preserve records.
Registration of International Mobile Equipment Identity Number vide Prevention of tampering of the Mobile Device Equipment Identification Number (Amendment) Rules, 2022
The Central Government has notified Prevention of tampering of the Mobile Device Equipment Identification Number (Amendment) Rules, 2022 to amend the prevention of tampering of the Mobile Device Equipment Identification Number, Rules, 2017.
FOR MORE UPDATES FROM THE MONTH OF SEPTEMBER ALSO READ.
October Updates:
Requirement to obtain registration certificate to sell any medical devices introduced vide Medical Devices (Fifth Amendment) Rules, 2022
On 30-09-2022, the Central Government, after consultation with the Drugs Technical Advisory Board, notified Medical Devices (Fifth Amendment) Rules, 2022 to amend the Medical Devices Rules, 2017. The Rules provides that any person not holding licence and intends to sell medical devices exclusively must obtain registration certificate.
Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022
The Reserve Bank of India (hereinafter called the Reserve Bank) issued Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022. These Directions shall come into effect from 1-01-2023.
SEBI issues circular reducing denomination of debt securities and non- convertible redeemable preference shares to Rs. 1 Lakh
On 28-10-2022, the Securities and Exchange Board of India (‘SEBI’) has issued a circular on reduction in denomination for debt securities and non- convertible redeemable preference shares to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
Food Safety and Standards (Labelling and Display) Second Amendment Regulations, 2022
On 11-10-2022, the Food Safety and Standards Authority of India has published the Food Safety and Standards (Labelling and Display) Second Amendment Regulations, 2022. They shall come into force on 01-05-2023.
FOR MORE UPDATES FROM THE MONTH OF OCTOBER ALSO READ.
November Updates:
Government notifies E-Waste (Management) Rules, 2022
The Central Government has notified the E-Waste (Management) Rules, 2022. These rules apply to every manufacturer, producer refurbisher, dismantler and recycler involved in manufacture, sale, transfer, purchase, refurbishing, dismantling, recycling and processing of e-waste or electrical and electronic equipment listed in Schedule I, including their components, consumables, parts and spares which make the product operational.
Aadhaar number holders may update their documents in every 10 years vide Aadhaar (Enrolment and Update) (Tenth Amendment) Regulations, 2022
The Unique Identification Authority of India (UIDAI) on November 09, 2022, issued the Aadhaar (Enrolment and Update) (Tenth Amendment) Regulations, 2022.
Rate of Family Pension revised vide SIDBI Pension (Amendment) Regulations, 2022
The Board of Directors of the Small Industries Development Bank of India has notified the Small Industries Development Bank of India Pension [Amendment] Regulations, 2022 in order to amend Small Industries Development Bank of India Pension Regulations, 2002.
SEBI issues Master Circular on the issuance of NOC for release of 1% of the issue amount
On 07-11-2022, the Securities and Exchange Board of India (SEBI) has issued a Master Circular on the issuance of a No Objection Certificate (NOC) for the release of 1% of the Issue Amount.
FOR MORE UPDATES FROM THE MONTH OF NOVEMBER ALSO READ.
December Updates:
NDPS (Seizure, Storage, Sampling and Disposal) Rules, 2022
On 23-12-2022, the Ministry of Finance (MoF) has issued the Narcotic Drugs and Psychotropic Substances (Seizure, Storage, Sampling and Disposal) Rules, 2022.
Govt allows conversion of regular vehicle registrations into Bharat Series vide Central Motor Vehicles (Twenty-third Amendment) Rules, 2022
On 14-12-2022, the Ministry of Road Transport and Highways notified Central Motor Vehicles (Twenty-third Amendment) Rules, 2022 to amend Central Motor Vehicles Rules, 1989 (“CMV Rules”) and allow the conversion of regular vehicle registrations into Bharat Series (BH) numbers as part of measures to widen the scope of the BH series ecosystem.
Government notifies National Geospatial Policy, 2022
On 16-12-2022, the Ministry of Science and Technology has notified the National Geospatial Policy, 2022 to create an enabling ecosystem thereby providing a conducive environment to Indian Companies that will enable them to make India self-reliant in producing and using their own Geospatial data /information and compete with foreign companies in the global space.
RBI announces Series III and IV Sovereign Gold Bond Scheme 2022-23
On 16-12-2022, the Reserve Bank of India (‘RBI’) has announced Series III and IV of Sovereign Gold Bond Scheme 2022-2023.
FOR MORE UPDATES FROM THE MONTH OF DECEMBER ALSO READ.
*Kriti Kumar, Editorial Assistant has reported this round up.
