The amendment clarifies which financial services banks and their group entities can conduct, sets prudential investment limits, and enforces compliance timelines for risk mitigation.
The High Court held that a show cause order passed ex parte before the expiry of the response period violated natural justice. The case was remitted for fresh adjudication with proper hearing.
RBI issues amendments clarifying agency business, referral services, and equity investment limits for small finance banks. Compliance timelines and prudential norms are emphasized.
ITAT Chandigarh deleted ₹38.70 Lakh addition as unexplained expenditure, holding that fully bank-routed agricultural expenses cannot be disallowed merely due to missing bills. The Tribunal confirmed that legitimate orchard expenses on labor, fertilizers, and packing are deductible from agricultural income.
ITAT Delhi held that addition towards unexplained cash deposit under section 69A of the Income Tax Act is not sustainable since the same is out of the cash sales and both cash book and books of account justifies the same. Accordingly, appeal is allowed.
The RBI’s 2025 amendment defines agency and referral services for Payments Banks, ensuring compliance and operational clarity in third-party financial product arrangements.
The RBI mandates that NBFCs within bank groups must follow commercial bank financial service guidelines for overlapping activities. The update ensures uniform regulation and avoids regulatory arbitrage.
The RBI amends provisions governing Non-Operative Financial Holding Companies, clarifying which activities belong within the bank and which must be undertaken through subsidiaries. The ruling reinforces restrictions on activities not permitted to banks.
RBI reduces Bank Rate to 5.50% and repo rate under LAF to 5.25%, lowering penal interest on CRR/SLR shortfalls and easing liquidity for banks and primary dealers.
The Tribunal directed the AO to verify conditions for exemption of receipts from tribal-area schools, confirming the Trust’s eligibility. The ruling reinforces that factual verification cannot override established charitable purposes and exemptions.
