Over the past year, the Union Government has taken incremental steps towards regulating online gaming with ‘real money’. The Ministry of Electronics and Information Technology (MEITY) was made the nodal ministry for online gaming and e-sports as part of multi-sports events.
The Ministry of Consumer Affairs, Food & Public Distribution had issued a press release on 4 March 2023 (Press Release) prohibiting the sale of hallmarked gold jewellery or gold artefacts without the 6 (six) digit alphanumeric Hallmark Unique Identification (HUID) number after 31 March 2023. The HUID is an unique identification code which offers distinct identity to each gold item/article.
After the recent announcements announced by the Insurance Regulatory and Development Authority of India (IRDAI), India’s insurance sector is set to undergo further significant changes. The IRDAI has introduced the following new regulations aimed at offering insurers flexibility in managing their expenses and promoting ease of doing business
Surrogacy, globally, has been a boon for couples facing infertility and equally been in controversy due to medical, legal and ethical concerns. While, simply put, surrogacy, is the process of a surrogate mother carrying a child for someone else may be a couple (parents) or single woman. In all its practicality, the process can be as complex as involving 3 classes of people i.e., (i) surrogate mother; (ii) commissioning or intending parent(s); and (iii) genetic or donor mother / father.
In the year 2022, the Indian Government proposed the enactment of a comprehensive Digital India Act (DIA) to provide global and contemporaneous legal standards for catering to India’s evolving digital ecosystem.
The Securities and Exchange Board of India (SEBI) vide its circular dated 3 February 2023, has updated its ‘Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT) / Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules framed thereunder’ (Guidelines).
