IFSCA launched the Foreign Currency Settlement System (FCSS), operated by CCIL IFSC Ltd. The system settles USD transactions using gross settlement, with SCB as the Settlement Bank.
CBIC circular simplifies bank account registration for exporters. Same incentive bank account and IFSC code are now auto-approved at multiple customs locations if previously approved.
PFRDA extends the deadline for Central Government employees and past retirees to migrate to the Unified Pension Scheme (UPS) under NPS by two months, until November 30, 2025.
This case highlights how delays in filing appeals against adverse GST orders weaken the department’s legal position. It underscores that prompt scrutiny and timely appeals are essential to protect government revenue.
IFSCA authorized CCIL IFSC to operate a Foreign Currency Settlement System in GIFT IFSC and notified its governing Bye-Laws and Regulations for financial institutions.
The Ministry of MSME mandates that all new delayed payment cases under the MSMED Act must be filed on the new MSME ODR Portal starting October 15, 2025, replacing the Samadhaan portal.
The RBI simplifies EDPMS and IDPMS closures for export/import bills under ₹10 lakh, allowing banks to reconcile based on a self-declaration, and prohibits penal charges.
RBI circular revises Merchanting Trade Transaction (MTT) rules, increasing the time limit for the foreign exchange outlay from four months to six months, effective immediately.
SEBI extends the mandatory implementation of the retail Algo trading framework to April 1, 2026, setting a glide path with milestones for stock brokers for system readiness.
Ministry of Corporate Affairs (MCA) has extended deadline for filing e-form DIR-3-KYC and DIR-3-KYC-WEB without fee until October 15, 2025.
