INFORM: Infrastructure, Projects & Finance – May 2024

The highlights of the current issues are:

Case laws:

• Contractual Clauses Must Provide for Broad Panel of Arbitrators
• Arbitral Award Granted Outside Contractual Terms Undermines Sanctity of Contracts
• Payment Cannot Be Directed Based on Unfinalised Payment Certificate
• Adherence To Principles of Natural Justice a Must in Debarment or Blacklisting

Notifications/circulars:

• Commercial Banks to Shift Statutory Return Submission to CIMS Portal
• Regulations on Gold Price Risk Hedging in Overseas Markets Relaxed
• Lenders to Issue Key Facts Statement to Borrowers Starting October 1
• Master Circular Released on Credit Facilities for Scheduled Castes (SCs) & Scheduled
  Tribes (STs)
• Small Finance Banks Permitted to Expand Hedging Avenues with Rupee Interest Rate
  Derivatives
• RBI Advises Vigilance Against Unauthorized Forex Trading
• Draft Guidelines Issued for Offline Payment Aggregators (PA-Ps)
• Revised Guidelines Issued for Asset Reconstruction Companies
• New Guidelines for Bitumen Selection on Indian Highways
• Lenders to Align Lending Practices with Fair Practice Code
• Voluntary transition of Small Finance Banks to Universal Banks
• Draft Guidelines Issued on ‘Digital Lending – Transparency in Aggregation of Loan
  Products from Multiple Lenders’

Quick Reads:

• End of Toll Fee Exemption Hoardings on National Highways Anticipated
• NTPC Green Teams Up with Leading Banks for Rs 10,000 Crore IPO in Renewable
  Energy Sector
• Edelweiss Alternatives Acquires LT Infra Projects
• Leveraging Land Value for Infrastructure Boost
• Cost Overruns Plague 448 Infrastructure Projects
• Registration Certificate of Acemoney (India) Revoked Over Irregular Lending Practices