The amended directions permit commercial banks to recognize current year profits for CRAR calculations on a quarterly basis. RBI also prescribed audit and limited review requirements for such recognition.
The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. The notification gives retrospective effect from 1 April 2026 and strengthens the GST appellate mechanism.
SEBI stated that improved cyber resilience, alternate trading sites, and contingency trading frameworks made the IRRA platform unnecessary. The circular supersedes the earlier 2022 framework establishing the platform.
The order highlights that delayed applications, late progress reports, and non-compliance with filing requirements amounted to serious procedural lapses. IBBI emphasized strict adherence to timelines under the Insolvency and Bankruptcy Code.
ROC Delhi held that failure to regularize an Additional Director at the next AGM violated Section 161(1) of the Companies Act. Since the default continued for 2,721 days, maximum penalties were imposed on the company and directors.
The ROC found that the company failed to timely record cessation of an Additional Director whose office had automatically vacated by law. Delayed filing of DIR-12 resulted in severe penalties under Section 172.
CBIC Circular No. 23/2026-Customs introduces mandatory INFO_CD declarations for claiming safeguard duty exemptions on steel imports. The Circular ensures smooth customs clearance by prescribing system-based qualifiers linked to CIF value thresholds, origin criteria, and excluded products.
PFRDA has introduced NPS Sanchay as a simplified National Pension System variant aimed at expanding pension coverage for India’s informal workforce. The scheme reduces complexities in investment selection and asset allocation.
The Union Cabinet approved ECLGS 5.0 to provide guaranteed emergency credit support to MSMEs, non-MSMEs, and airlines facing liquidity stress due to the West Asia conflict. The scheme offers up to 100% guarantee coverage and aims to protect jobs and supply chains.
The Ministry of Finance has updated Notification No. 63/1994-Customs (N.T.) to notify the Samrang motorable road route for customs purposes. The change enables smoother border movement and customs administration along the Bhutan frontier.
