NSE AND IBBI SIGN A RESEARCH COLLABORATION MOU
The National Stock Exchange (NSE) has partnered with the Insolvency and Bankruptcy Board of India (IBBI) for research. The collaboration’s goal, according to the exchange, is to “establish a research ecosystem in the domain of insolvency and bankruptcy in the country.” An effective insolvency and bankruptcy resolution system enables rapid financial stress resolution, balances the interests of all stakeholders, stimulates entrepreneurship, and enhances credit availability at the lowest possible cost. As a result, an economy’s growth potential and institutional strength improve. IBBI is a one-of-a-kind regulator that oversees both insolvency practitioners and insolvency proceedings.
Under the terms of the agreement, NSE and IBBI will work together to improve existing research efforts in the areas of insolvency and bankruptcy in India, as well as to promote studies that look into the interconnections between the insolvency process, financial markets, and the economy. They will also examine the effectiveness of insolvency laws and practices around the world, as well as generate evidence-based policy proposals to improve India’s bankruptcy environment.
FROM OCTOBER 1ST, REGISTRATION VIA THE CHIMS PORTAL WILL BE MANDATORY
The CHIMS trial term has been extended by two months, to September 30, 2021, and registration via the CHIMS portal will be available on October 1, 2021. The chip imports monitoring system (CHIMS), which requires mandatory import registration for a variety of electronic integrated circuits, will go into force on October 1.
Under CHIMS, the government made import registration mandatory for a variety of electronic integrated circuits in May, a move that might reduce inbound shipments and stimulate local production. The period for IEC (import-export code) adjustment has been extended for 2021-22 only through August 31, and no cost will be levied for IEC modifications made during this period.