The Delhi ITAT rejected the TPO’s proposed uplift and held that the interest rate charged on the loan to the Jordan AE aligned with the Jordan Central Bank rate. The ALP at 3.55% was accepted, deleting the proposed TP adjustment.
ITAT condoned a 23-day delay and quashed the ex-parte order of NFAC, sending the appeal back for fresh adjudication. Appeals must be decided on merits even if delayed, prioritizing fairness.
RBI’s 2025 amendment mandates expanded free facilities, clearer withdrawal rules, and stronger customer rights for BSBD accounts. Banks must provide essential services without minimum balance requirements.
RBI’s 2025 amendment mandates uniform, customer-friendly BSBD facilities in SFBs, including free ATM cards, cheque books, and digital banking without minimum balance requirements.
RBI revises BSBD norms for Payments Banks, mandating free essential services, flexible withdrawals, and no minimum balance requirements to enhance financial inclusion.
RBI mandates LABs to offer free BSBD services with ATM cards, cheque books, digital banking, and no minimum balance, enhancing financial inclusion.
RBI mandates RRBs to offer free BSBD services with ATM cards, cheque books, digital banking, and no minimum balance, enhancing financial inclusion.
RBI mandates UCBs to offer free BSBD services with ATM cards, cheque books, digital banking, and no minimum balance, boosting financial inclusion.
RBI mandates RCBs to provide free BSBD services, including ATM cards, cheque books, and digital banking, with no minimum balance to enhance financial inclusion.
Updated directions require full-file and incremental reporting, CKYC submission, and rectification of rejected data to improve credit data accuracy.
