Companies Act 2013 Current Affairs - 2020

Framework for Authorisation of Pan-India Umbrella Entity for Retail Payments released by RBI

On August 20, 2020, the Reserve Bank of India released Framework for Authorisation of Pan-India Umbrella Entity for retail payments. Key Features The RBI will set up a new pan-India umbrella entity with a minimum paid-up capital of Rs 500 crores. The entity will set up, operate, manage new payment systems that comprises of ATMs, Read More…

Activities of APCOS launched by Y.S. Jaganmohan Reddy

For ensuring corruption-free job placements, Y.S Jaganmohan Reddy (Chief Minister of Andhra Pradesh) has formally launched the activities of state-owned placement agency-Andhra Pradesh Corporation for Outsourced Services (APCOS) through video conferencing on 3rd July 2020. Some outsourcing staff working in the General Administration Department were handed over appointment letters by the Chief Minister for the Read More…

Cabinet Approval: To amend Companies Act, 2013

On March 4, 2020, the Union Cabinet approved 72 changes to the Companies Act, 2013. The main aim of the amendment is to decriminalize the provisions in the act. Highlights The amendment aims to recategorize 23 offences and omit 7 compoundable offences. Under the amendment, the companies with Corporate Social Responsibility (CSR) obligation of less Read More…

National Financial Reporting Authority submits first report since constitution

The National Financial Reporting Authority (NFRA) issued its first audit report of IL&FS Financial Services Limited for the year 2017-18. It is the first report submitted by the authority since its constitution in October 2018. The audit was conducted abiding Section 13(2) of the companies act, 2013 and NFRA rules, 2018. Highlights Prior to NHRA, Read More…

IRCTC Revenue doubles; 14% increase in profits

The earnings from internet ticketing services of IRCTC (Indian Railway Catering and Tourism Corporation) increased by 80.8% between the period April, 2019 and September, 2019. The earnings in the four-month period is Rs 199.3 crores. It was Rs 199.3 crore before April, 2019. The revenue has almost doubled. IRCTC is an exclusive e-ticketing partner of Read More…