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.
The International Financial Services Centres Authority issued a circular on 2 March 2026 prescribing a comprehensive fee structure for entities undertaking or intending to undertake permissible activities in International Financial Services Centres (IFSCs) and for persons seeking guidance under the Informal Guidance Scheme, 2024. The circular applies to applicants seeking licence, registration, recognition, or authorisation […]
SEBI clarified that a cousin does not fall within the statutory definition of a relative under the Companies Act and LODR Regulations. Therefore, a cousin of a promoter-group member may be eligible for appointment as an Independent Director, subject to other conditions.
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.
Gross GST revenue reached ₹1.83 lakh crore in February 2026, driven by 17.2% growth in import revenues. Net collections also rose 7.9%, reflecting steady domestic and customs performance.
Invoking powers under section 27 of the Act, the State Government introduced the 2026 Amendment Rules without prior publication. The revised provisions shift key filing and compliance dates to the 15th day, impacting taxpayers across the state.
CBIC has allowed Eligible Manufacturer Importers to avail deferred payment of customs duty from 1 April 2026. The circular outlines strict eligibility criteria and compliance safeguards to ensure faster clearance and improved trade facilitation.
ROC Bangalore imposed penalty for 1,592 days of continuing default after a second DIN was obtained contrary to statutory provisions.
The ROC Bangalore imposed penalty under Sections 155 and 159 of the Companies Act after a director inadvertently obtained a second DIN. The default continued for 807 days before rectification.
ROC Bangalore imposed a penalty for 907 days of continuing default due to acquisition of a second DIN, holding it contravened Section 155.
