India and Bangladesh have signed a Memorandum of Understanding (MOU) on the development of a system of cooperation in the field of trade remedial steps.

The Union Cabinet, headed by Prime Minister Shri Narendra Modi, has approved the Memorandum of Understanding ex post facto (MoU) The Memorandum of Understanding signed in Dhaka on March 27, 2021, on the establishment of a system of cooperation in the field of trade remedial steps between the Director-General of Trade Remedies of the Republic of India and the Bangladesh Trade & Tariff Commission of the People’s Republic of Bangladesh. 

The MOU’s main aim is to encourage relations between the two countries in the field of trade remedies. The MOU encompasses a wide range of events relating to knowledge sharing and capacity building. Bilateral trade between India and Bangladesh in compliance with various World Trade Organization arrangements.

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The CCI has approved Adani Ports and Special Economic Zones Limited’s acquisition of 89.6% of Gangavaram Port Limited’s equity shareholding

The Competition Commission of India (CCI) has approved Adani Ports and Special Economic Zones Limited’s acquisition of 89.6 percent of Gangavaram Port Limited’s equity shareholding under section 31(1) of the Competition Act. The planned merger includes APSEZ acquiring 89.6 percent of GPL’s shareholding (i.e., the company that operates Gangavaram port).

APSEZ is a manufacturer of advanced port logistics facilities. It can be found in 11 domestic ports covering six maritime states. Through road or railway, APSEZ handles the whole logistics chain, from vessel management to goods handling, transportation, and so on.

The deep-water port at Gangavaram, Andhra Pradesh, is owned, built, and operated by GPL. It has a concession arrangement with the Government of Andhra Pradesh on a Build-Own-Operate-Transfer basis for a term of thirty years from the date of commercial operations and for a further 20 years.

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Guidelines for ‘on tap’ licensing for Universal Banks and Small Finance Banks by RBI

The names of applicants for the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks were issued currently by the Reserve Bank of India. As of now, applications for Universal Banks and Small Finance Banks are being accepted under RBI guidelines. 

Applicants under Guidelines for ‘on tap’ Licensing of Universal Banks

  1. UAE Exchange and Financial Services Limited
  2. The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank)
  3. Chaitanya India Fin Credit Private Limited
  4. Shri Pankaj Vaish and others

Applicants under Guidelines for ‘on tap’ Licensing of Small Finance Banks

  1. VSoft Technologies Private Limited
  2. Calicut City Service Co-operative Bank Limited
  3. Shri Akhil Kumar Gupta
  4. Dvara Kshetriya Gramin Financial Services Private Limited

On August 1, 2016, and December 5, 2019, the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector were released. The establishment and composition of the Standing External Advisory Committee for the purpose of reviewing applications submitted in accordance with the guidelines declared on March 22, 2021.

A reliable and trustworthy warehousing infrastructure is a requirement for a successful Commodity Derivatives Market. Securities Contracts (Regulation) 2018 Regulation 43A gives a guarantee for trade settlement, including good execution. The Clearing Corporation must ensure that their approved storage facilities take all reasonable precautions to ensure the safety and quality of products stored with them. The Clearing Corporations must provide a comprehensive system of standards to which Warehouse Service Providers assayers must comply. They also enlisted the support of other supported service providers to ensure timely distribution.

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