ROC Mumbai held that once delay in appointing an Internal Auditor was compounded by the Regional Director and default rectified, no further penalty under Section 450 could be imposed.
Rural Co-operative Banks can now recognise income on accrual basis for Standard assets, but must follow cash basis for non-Standard loans and reverse unrealised income on NPA classification.
Even though the form was auto-approved under STP mode, the adjudicating authority imposed penalty for inaccurate disclosure. Responsibility for correctness rests with the digital signatory.
ROC Kolkata imposed penalties under Section 172 after a public company failed to fill a Woman Director vacancy within the prescribed three-month period, resulting in 18 days of non-compliance.
The 26th Council of ICAI has elected new leadership effective February 12, 2026. The announcement marks the beginning of the 2026–27 term for the statutory accounting body.
The draft directions require UCBs to obtain clear, unbundled customer consent before selling financial products. The move enhances customer autonomy and safeguards against unfair practices.
RBIs draft 2026 amendment directions prohibit dark patterns, compulsory bundling and deceptive marketing by Payments Banks. The key takeaway is stronger customer consent and protection standards.
The new framework removes prior approval requirements while strengthening conduct and disclosure obligations. Customer protection norms are consolidated under Responsible Business Conduct Directions.
ICAI has partnered with The Art of Living to integrate stress management, value-based education, and wellness initiatives for Chartered Accountants and students. The initiative aims to strengthen ethical values and professional resilience.
India expands affordable AI access through subsidised compute, national datasets, and large-scale infrastructure. The initiative aims to make AI innovation accessible to startups, researchers, and public institutions.
