The RBI’s 2025 amendment revises account maintenance rules for Small Finance Banks to ensure stricter monitoring of CC, Current, and OD accounts. Banks must flag accounts, monitor usage, and prevent fund diversion to maintain credit discipline.
Banks must implement robust monitoring systems, flag high-risk accounts, and regularly review compliance. Accounts violating usage restrictions must be converted or closed within three months. This ensures transparency and effective tracking of fund utilization.
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NFRA’s investigations revealed gross negligence in audits of PIEs, including Coffee Day, Reliance, and Zee, with auditors failing to detect fund diversion and related party irregularities. Disciplinary actions and new guidelines reinforce accountability.
By regulating auditors and corporate accounting, NFRA protects investors and creditors, ensuring accurate financial reporting. It operates independently with strong enforcement powers.
This title highlights the bank’s invitation for external auditors to conduct detailed concurrent audits covering multiple operational and risk-sensitive areas. The RFP outlines eligibility requirements, scope of work, timelines, and strict compliance obligations for participating firms.
The RBI has released the Master Direction for Rupee IRDs effective March 2026, setting rules for OTC and exchange-traded derivatives. It ensures transparency, reporting compliance, and proper risk management for participants in the IRD market.
Exemption under Entry 13 applies when rented properties are used as residences, irrespective of sub-leasing. The ruling ensures that GST is not unfairly levied on hostel and student accommodations.
The Ministry of Finance has extended the duty on textured tempered glass while a statutory review evaluates potential injury to Indian industry. The extension keeps the existing levy active through June 2026.
A statutory authority has been formally notified for exemption under Section 10(46A) with effect from AY 2024-25. The approval is conditional on continued operation under its governing Act and eligible purposes.
