The law permits non-resident directors to attend Board Meetings through video conferencing. Such participation is valid for quorum if procedural requirements are followed.
The petition challenges the validity of a cess law on grounds of lack of legislative competence and arbitrariness. The Court has not ruled yet and has granted time for further submissions, keeping the issue open.
While HSN mirroring works for goods, it creates classification errors in services. The key takeaway is that service classification depends on nature and context of supply.
Authorities allege misuse of insolvency proceedings and diversion of funds linked to a financial fraud case. The key takeaway is scrutiny of creditor voting influence and CIRP conduct.
The Reserve Bank of India issued draft Amendment Directions on April 8, 2026, revising the existing framework for Investment Fluctuation Reserve (IFR) across multiple categories of banks, including commercial banks, co-operative banks, small finance banks, payments banks, and regional rural banks. The draft proposes key changes such as removing the IFR requirement for banks already […]
The amendment redefines revenue reserves by excluding provisions for liabilities and depreciation. This ensures clearer classification and more accurate financial reporting by banks.
RBI revises the definition of revenue reserves to exclude provisions and liabilities. The change enhances transparency and consistency in financial statements.
The Reserve Bank of India has removed a key provision from capital adequacy norms to ensure consistency with updated investment rules. The amendment simplifies regulatory requirements and eliminates redundancy.
RBI introduces annual IFR assessment instead of continuous compliance for RRBs. The change reduces operational burden while maintaining prudential safeguards.
The Reserve Bank of India has proposed a clear 5% IFR requirement for rural co-operative banks’ current investments. This change improves transparency and aligns reserve maintenance with practical banking operations.
