Consumer Protection Rules, 2021

Consumer Protection Rules, 2021: In exercise of its powers under provisions of the Consumer Protection Act, 2019, the Central Government has notified the Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021. The new rules revised pecuniary jurisdiction for entertaining consumer complaints. Overview of the new rules: Food […]

Extension of GST Compensation Scheme

GST Compensation: Finance Ministers of several States have demanded that the GST compensation scheme be extended beyond June 2022. The adoption of GST was made possible by States ceding almost all their powers to impose local-level indirect taxes and agreeing to let the prevailing multiplicity of imposts be subsumed into the GST. This was agreed […]

Small-Value Digital Payments In Offline Mode

Small-Value Digital Payments In Offline Mode: The Reserve Bank of India (RBI) has come out with the framework for facilitating small-value digital payments in offline mode, a move that would promote digital payments in semi-urban and rural areas. The framework incorporates feedback received from the pilot experiments on offline transactions conducted in different parts of […]

Financial Resolution And Deposit Insurance (FRDI) Bill

Financial Resolution And Deposit Insurance (FRDI) Bill: The Finance Ministry has sought views of the Reserve Bank of India (RBI) on drafting a modified version of the Financial Resolution and Deposit Insurance (FRDI) Bill in order to deal with Insolvency of Firms in the financial sector. In 2018, the Government had withdrawn the FRDI Bill […]

Regional Comprehensive Economic Partnership (RCEP)

Regional Comprehensive Economic Partnership (RCEP): The RCEP will come into effect on January 1, 2022, marking the formation of the world’s largest free trade zone in terms of trade volume. RCEP is a trade deal between the 10-member Association of Southeast Asian Nations (ASEAN) and China, Japan, South Korea, Australia and New Zealand. Aims and […]

FSSAI Draft Regulations For GM Foods

FSSAI Draft Regulations For GM Foods: Social activists working among farmers have come out against the Food Safety and Standards Authority of India’s (FSSAI) draft regulations on genetically modified (GM) food, terming it “unacceptable”. They want FSSAI to explicitly say that GM foods will not be allowed into India by way of production or imports. […]

Digital Lending

Digital Lending: A Reserve Bank of India (RBI) Working Group (WG) on digital lending, including lending through online platforms and mobile apps submitted its recommendations in November this year. Key recommendations: A separate legislation should be enacted to oversee such lending. Setup a nodal agency to vet the Digital Lending Apps. A Self-Regulatory Organisation should […]

Consumer Protection (Direct Selling) Rules, 2021

Consumer Protection (Direct Selling) Rules, 2021: Central Government in exercise of the powers conferred by clause (zg) of sub-section (2) of section 101 read with section 94 of the Consumer Protection Act, 2019 has notified the Consumer Protection (Direct Selling) Rules, 2021. These Rules shall apply to all goods and services bought or sold through […]