RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requirements under FEMA. The guidance helps entities avoid compliance lapses and potential penalties.
Haryana recorded the highest State GST revenue growth of 32% during the first quarter of FY 2026-27, outperforming all other states. The achievement reflects strong tax compliance, effective administration, and sustained economic growth.
Indias regulatory reforms, tax-neutral merger framework, and deeper capital markets are encouraging companies to shift their holding structures back to India. The article explains the key legal changes driving this growing redomiciling trend.
The RBI has amended its Responsible Business Conduct Directions to introduce a detailed framework for handling fraudulent electronic banking transactions in Local Area Banks. The Directions define customer and bank liabilities, mandate fraud reporting systems, and establish compensation and grievance redressal mechanisms.
The RBI has replaced the earlier customer liability framework with comprehensive rules governing fraudulent electronic banking transactions. The revised Directions require stronger fraud prevention systems, customer safeguards, and structured compensation mechanisms.
RBI has amended the methodology for calculating Net Open Position and capital charge for foreign exchange risk applicable to Standalone Primary Dealers. The revised framework introduces a standardized approach effective from April 1, 2027.
NSO has launched the Annual Survey of Incorporated Services Sector Enterprises (ASISSE) to collect comprehensive economic and operational data from over 1.21 lakh enterprises. The survey is designed to strengthen evidence-based policymaking, economic analysis, and National Accounts compilation.
RBI has introduced the Expected Credit Loss (ECL) Framework, requiring banks to make forward-looking provisions before loan defaults occur. The new regime takes effect from 1 April 2027, with phased implementation for legacy loans.
CBIC has amended Notification No. 27/2018-Customs (N.T.) by inserting “Navi Mumbai” as a new entry in the notified table. The amendment has been issued under Section 7(1)(f) of the Customs Act, 1962.
IRDAI has constituted a Working Group to develop governance, oversight, and security frameworks for AI adoption in the insurance sector. The panel will recommend measures to promote ethical AI use while safeguarding policyholders data.
