RBI:
RBI allows MSES to raise funds from foreign investors by allowing FDI into a Small Scale Industrial Undertakings (SSIS)/Micro & Small Enterprises (MSES) and in industrial undertaking manufacturing items reserved for SSIS/MSES vide its Circular dated 20-02-2014. An Indian Company which is a Small Scale Industrial Unit and which is not engaged in any activity or in manufacture of items included in Annex A, may issue Shares or Convertible Debentures to a person resident outside India, to the extent of 24% of its paid-up capital provided that such company may issue shares in excess of 24% of its capital if complies with the conditions provided in the circular.
IRDA / INSURANCE LAWS:
IRDA, in order to minimize the unclaimed amount of the policy holders has instructed all the Insurance Companies that every Insurer shall endeavour to keep the Policyholder and beneficiary informed about any updates, changes and maturity details by SMS alerts or Email or any other mode as may be specified by the Authority on regular basis and all Insurers to remit claims due to policy holders through electronic mode w.e.f 1st April, 2014. To download & view the said circular CLICK HERE.
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