New G20 President, Timeline Change For IPOs: 5 Changes Coming Into Effect From Dec 1

With the beginning of December, the last month of the year, a number of changes will come into effect that will affect the day-to-day lives of people across the country.

From procuring SIM cards to visa-free entry in Malaysia, these changes will make the life easier and more secure for people of the country. Another important change coming into effect will impact your digital life, especially those who have unused Gmail accounts as Google has announced it will delete such accounts.

Here’s a look at all the changes coming into effect:

Change in G20 presidency: Brazil will assume the presidency of the Group of 20 (G20) nations from December 1, 2023. Prime Minister Narendra Modi had in September handed over the presidency to Brazil’s President Luiz Inacio Lula da Silva. India will hold the position until November 30, 2023. India’s presidency began on December 1, 2022, leading up to the summit in the third quarter of 2023. Brazil will host the G20 in 2024, and South Africa will host it in 2025.

New rules for SIM card purchase: The Department of Telecommunication (DoT) is introducing new rules for buying and selling SIM cards from December 1, in a bid to combat scams and frauds. The new rules will make it mandatory for all SIM card dealers to undergo verification. Failure to comply may result in a fine of ₹ 10 lakh. The central government is also tightening the norms for bulk purchase of SIM cards. Only a business connection will be allowed to do so, however, there is no change for rules for an existing individual connection. However, closing a SIM card will render that number applicable to another person only after a 90-day period. SIM selling vendors must register by November 30 to comply with the new rules.

Malaysia to allow visa-free entry to Indians: This rule will also come into effect from December 1. Prime Minister Anwar Ibrahim announced that Indians and Chinese nationals will be allowed to stay visa-free in the country for 30 days. This will be subjected to security screening, he added. The move is expected to give a boost to tourism in Malaysia, which is counting on extra tourists to support economic growth.

Inactive Google accounts to be deleted: Tech giant Google has announced that it is updating the inactivity period for a Google account to two years across all its product and services. The company informed all its users about the change through emails. The change will be implemented from December 1 and apply to any Google account that’s been inactive, “meaning it has not been signed into or used within a two-year period.

New timeline for IPOs: The Securities and Exchange Board of India (SEBI) has reduced the timeline for listing of IPOs from existing T+6 days to T+3 days. The new rules have halved the timeline for listing of shares on stock exchanges after the closure of IPOs to three days from existing six days at present. SEBI had announced the new timeframe will be voluntary for all public issues opening on or after September 1 and mandatory for all the issues which come after December 1.