Introduction

Week – March 18th to March 23rd   

Quote for the week:

“The harder the conflict, the more glorious the triumph.”

–Thomas Paine (American Founding Father)                      

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various circulars/notifications issued by certain regulatory authorities such as the Securities and Exchange Board of India (“SEBI”), International Financial Services Authority (“IFSCA”) and NCLAT Order.

The Regulatory authorities provided various updates/relaxations, some of which being:

1. SEBI vide circular dated March 19, 2024 allowed entities to use e-KYC Aadhar Authentication services of UIDAI in Securities Market as sub-KUA.
2. IFSCA vide circular dated March 22, 2023 issued circular on Issuance of Indian Financial System Code (IFSC code) to IFSC Banking Units (IBUs)

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements/ orders issued during the week of March 18th to March 23rd.

Thank you, Swift team