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Legal Update

08 May
2020

LIBERALISED – FOREIGN DIRECT INVESTMENT IN INSURANCE SECTOR

Earlier this year, the Department of Promotion of Industry and Internal Trade, under the Ministry of Commerce & Industry, Government of India, had on February 21, 2020, issued Press Note No. 1 (2020 series) ( “Press Note 1”) , amending the Foreign Direct Investment Policy as contained in the Consolidated

18 Apr
2020

PRESS NOTE 3 (2020 SERIES) | COVID -19 AND FDI IN INDIA

The Department of Promotion of Industry and Internal Trade, under the Ministry of Commerce & Industry, Government of India, has on April 17, 2020, issued Press Note No. 3 (2020 series) (hereinafter referred to as “Press Note 3”)[1], amending the Foreign Direct Investment Policy as contained in the Consolidated FDI

02 Apr
2020

NOW REGULATED – PAYMENT AGGREGATORS AND PAYMENT GATEWAYS

The Reserve Bank of India (“RBI”) with effect from April 1, 2020 will be regulating the activities of Payment Aggregators (“PAs”) and Payment Gateways (“PGs”)[1]. Until April 1,2020, intermediaries such as PAs and PGs, did not require registrations from the RBI and only banks were regulated while operating the accounts