Guidelines Financial News

By Karen Freifeld

Securities Exchange Board of India (Sebi) on Friday released a set of amendents on anti-money laundering standards and combating the financing of terrorism. These guidelines relate to the rules framed under the prevention of money laundering Act 2002. For the uninitiated, Prevention of Money Laundering (Second Amendment) Rules, 2023 came into force on Sep 4, this year, and in view of these amendments, certain provisions of the master circular stand to get modified.

unclaimed deposits to the Reserve Bank of India's Depositor Education and Awareness Fund. To claim the funds from this fund, you will need to establish contact with the RBI. Several public sector banks in India now require both savings and current accounts to be classified as inoperative if there have been no transactions in the account for a period exceeding two years, aligning with the directives set forth by the RBI.

museum heist of a pair of ruby slippers that Judy Garland wore in the 'The Wizard of Oz' pleaded guilty Friday in a deal that could keep him out of prison due to his failing health, but only cleared up some of the mystery that dates back 18 years. Terry Jon Martin, 76, pleaded guilty to a single count of theft of a major artwork. The shoes were stolen in 2005 from the Judy Garland Museum in the late actor's hometown of Grand Rapids, Minnesota, and recovered by the FBI in 2018.

The federal government will require crypto exchanges to hold a financial services licence, issued by the corporate regulator, under a new regime bolstered with specific obligations to reduce risks for investors while also supporting the growth of the digital asset sector.

global guidelines around the use of AI, researchers found that while most of the guidelines valued privacy, transparency, and accountability, very few valued truthfulness, intellectual property, or children's rights. Further, most of these guidelines described ethical principles and values without proposing practical methods for implementing them and without pushing for legally binding regulation, a team of researchers from the Pontifical Catholic University of Rio Grande do Sul, Brazil, found. To determine if a global consensus existed regarding the use of artificial intelligence (AI), the researchers identified and analysed 200 documents related to AI ethics and governance published between 2014 and 2022 from 37 countries and six continents and written or translated into five different languages — English, Portuguese, French, German and Spanish.

Most of them make multiple trips to earn as much money as possible. Lakshminagar, Thoothibari, Nichlaul, Parsa Malik, Bargadwa, Bhagwanpur, Shyam Kat, Farenia, Hardi Dali and Khanuva are some of the villages from where it is very easy to cross into Nepal and rice is smuggled, police sources said. Maharajganj shares an 84-km open border with Nawalparasi and Rupandehi districts of Nepal's Lumbini province.

Israel amidst the Israel-Hamas conflict left for home on Saturday, the second in a day and fourth since the launch of 'Operation Ajay'. The special flights are part of the operation launched on October 12 to facilitate the return of those Indian nationals who wish to return home following the brazen attacks on Israeli towns by Hamas militants from Gaza on October 7. The Indian Embassy in Tel Aviv earlier earlier announced that two special flights will operate from Ben Gurion airport on Saturday.

net zero emissions by 2070. To meet this objective, India has pledged to, inter alia, achieve 500 GW of installed electricity (about 50 per cent of cumulative installed power) from non-fossil fuel sources by 2030 as part of its NDCs under COP26.

health insurance benefits such as renewal benefit, additional sum insured for loyalty and coverage of preexisting disease after waiting period that you get with a health insurance plan provided you continue with the policy for several years. But what happens when you decide to change your insurer? Can you transfer these benefits to the new policy? Does it make sense to go for a new policy if these additional benefits are not completely transferred to the new insurer when making the shift?We tell you here how it works. You can port your policy with the same insurer or switch to a new insurer Health insurance is one of the protections that people need for the longest period of their lives, often throughout their lifespans.

valuing IDBI Bank could disqualify major accounting firms seeking an asset valuer role, the finance ministry has eased the norms that could help the proposed state-equity sale in the lender gather momentum. ET had reported on September 7 that the government's request for proposal (RFP) to appoint an asset valuer for IDBI Bank had made it mandatory for valuers to be registered with the Insolvency and Bankruptcy Board of India (IBBI).

Indian Venture and Alternate Capital Association (IVCA) in partnership with the Centre for Business Innovation (CBI) at the Indian School of Business (ISB) has announced a launch of a training programme for PE/VC fund managers. This programme is designed specifically to address the needs of professionals appointed by private capital funds on the board of ‘early to growth’ stage companies.

Canada’s top banking regulator is flagging commercial real estate lending as a bigger risk than previously thought as higher interest rates persist and a practice known as co-lending increases.

As artificial intelligence makes advances in all industries, one company has announced a flagship AI-driven product that will help financial firms with compliance protocols.

Conor McGregor, the Irish MMA sensation, is edging closer to his UFC comeback. After a significant hiatus from the sport due to a devastating leg injury, McGregor is now back in the United States Anti-Doping Agency's (USADA) testing pool, taking a significant step toward a return to the octagon.

Russia’s Central Bank thinks its digital ruble could let citizens pay abroad without making use of the SWIFT banking platform – and wants to let foreign banks use its CBDC.

NPS scheme for NRIs: Non-resident Indians (NRIs) aged 18 to 60 can invest in India's National Pension Scheme (NPS) by adhering to KYC norms. The NRIs can make contributions to NPS from their NRO/NRE account. NPS offers diversification across financial securities and asset classes (Equity, Corporate Bonds, Government Securities). NRIs can choose their investment mix based on risk appetite. There are two fund management schemes: Active Choice and Auto Choice, catering to individual preferences.

undergraduate programmes will have to mandatorily do internships and they will be awarded credits for it, according to new draft guidelines of the University Grants Commission (UGC). The draft of the «Guidelines for internship and research internship for undergraduate students» was released on Tuesday in line with the National Education Policy (NEP) 2020 that emphasises the inclusion of research and internships in the undergraduate (UG) curriculum to provide opportunities to students for active engagement in on-site experiential learning.

best Forex brokers with high leverage listed are RoboForex and Exness, both offering a staggering 1:2000 leverage with minimal investments of $10 and $1, respectively. These brokers, along with others like InstaForex and Weltrade, are regulated by various international bodies, ensuring traders' capital is at risk within a governed framework. Despite the attraction of high profits, the study reveals that between 70% and 80% of retail investors incur losses in trading Forex instruments and CFDs.

Key Takeaways

locker facility. As per RBI’s revised guidelines on lockers, the revised Locker Agreement is to be executed by all the existing locker holders. The RBI has set December 31, 2023 deadline to execute revised locker agreements, in a staggered manner. Bank lockers can be used only for legitimate purposes such as storing of valuables like jewelry and documents but not for storing any cash or currency. Latest bank locker charges of HDFC Bank, ICICI Bank, SBI, Yes Bank, Canara Bank According to SBI’s revised locker agreement, “Only for legitimate purposes such as storing of valuables like jewelry and documents but not for storing any cash or currency.” These items cannot be stored in a bank locker, as per the PNB’s revised locker agreement.