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Government to entities accountable for unsolicited calls
The government has proposed holding accountable banks, insurance firms, real estate developers, brokers, and other entities, including agencies engaging in 'pesky calls' on their behalf, for contacting individuals through unregistered telephone numbers regulated by the Telecom Regulatory Authority of India (Trai). This represents the latest effort by the government and the telecom regulator to tackle the persistent issue that they have struggled to control for over two decades, despite previous initiatives such as the now-defunct 'do not disturb' service. Although Trai has discussed measures t..
IREDA establishes subsidiary within IFSC in GIFT City, Gujarat
IREDA, a state-owned entity, has established a subsidiary within the International Financial Services Centre (IFSC) situated in GIFT City, Gujarat. Officially named IREDA Global Green Energy Finance IFSC Limited, the subsidiary was incorporated on May 7, following the receipt of a no objection letter from the Reserve Bank of India (RBI) in February 2024, permitting the establishment of the finance company within IFSC GIFT City, as stated by IREDA.
"This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding ..
Govt reviewing RBI's proposal for increased infrastructure provision
Government officials are currently assessing the draft rules proposed by the Reserve Bank of India, which call for higher provisioning in infrastructure projects. It is anticipated that lenders will oppose these rules on various platforms. Concerns have been raised by officials regarding the potential consequences, fearing that they might result in an increase in interest rates and disrupt the momentum of capital expenditure.
According to individuals familiar with the matter, once the evaluation process is complete, the draft rules will be deliberated upon with the banking regulator du..
IL&FS Requests New MMRDA Nod for Mumbai HQ Transfer
IL&FS has sought renewed approval from the Mumbai Metropolitan Region Development Authority (MMRDA) to transfer its headquarters within Mumbai. This move indicates IL&FS's commitment to navigating regulatory requirements amid ongoing restructuring efforts.
IL&FS's request for new approval underscores its determination to ensure compliance with all necessary regulations and expedite the headquarters transfer process. It reflects the company's efforts to streamline its operations and address administrative challenges as part of its restructuring endeavours.
The need for fresh appro..
Malaysian Carbon Credit Auction Begins July
In a significant move towards environmental sustainability, Malaysia's carbon exchange will host its first local carbon credit auction in July. This event marks a pivotal step in the nation's commitment to reducing carbon emissions and fostering a green economy.
The Malaysian carbon exchange aims to provide a structured marketplace for carbon credits, where companies can buy and sell these credits to offset their carbon footprints. This initiative aligns with global efforts to mitigate climate change by encouraging businesses to adopt more sustainable practices.
The auction w..
