The new RBI Directions introduce prudential norms restricting dividend payouts by Local Area Banks based on capital adequacy and adjusted profits to protect financial stability.
New FSSAI regulations expand the definition of petty food business operators to include street vendors, hawkers, and food trucks. Vendors registered under the Street Vendors Act will be deemed registered under food safety law.
CBIC clarified that fees for amendment or cancellation of export documents may be waived when changes arise due to circumstances beyond the exporter’s control. The relaxation applies to disruptions such as cancelled vessels or logistics issues.
The appellate authority allowed disclosure of internal file notings but refused to release documents submitted by valuers, holding them exempt under Section 8(1)(d) of the RTI Act due to commercial confidentiality.
Third-party motor insurance pays compensation for injury or property damage to others caused by your vehicle. However, it does not cover damage to the insured car or the driver’s own losses.
The draft regulations aim to curb insider trading, market manipulation, and fraudulent practices in IFSC securities markets while replacing existing SEBI rules.
The government introduced a pilot credit assistance program under the Export Promotion Mission to provide working capital, guarantee cover, and interest subvention to MSME e-commerce exporters.
The Tribunal held that an assessment under Section 143(3) is void ab initio when the mandatory notice under Section 143(2) is issued by a non-jurisdictional officer. The absence of a valid jurisdictional notice vitiated the entire proceedings.
RBI reported that 98.44% of ₹2000 banknotes in circulation have been returned since the withdrawal announcement in May 2023. However, ₹2000 notes continue to remain legal tender.
RBI has informed regulated entities about the removal of one entry from the UNSC ISIL and Al-Qaida sanctions list. Financial institutions must update records and ensure strict compliance under Section 51A of UAPA and KYC Directions.
