The Finance Ministry has permitted seven reporting entities to conduct Aadhaar authentication under Section 11A of the PMLA. The notification highlights compliance with privacy and security standards under the Aadhaar Act after consultation with UIDAI and RBI.
The Department of Consumer Affairs has clarified that customary units like inches, feet, and dozen may be used as supplementary declarations alongside SI metric units. However, SI units will continue to remain the legally recognized standard under the Legal Metrology Act.
The Central Government amended the HSNS Cess Rules, 2026 to streamline procedural and accounting requirements under Rule 35. The notification removes certain consultation and approval conditions to simplify administrative compliance.
The amendment bars related parties, recent auditors, and connected persons from acting as registered valuers in pre-pack insolvency proceedings. The revised rules aim to ensure impartial and conflict-free valuation processes.
The IBBI amended the Liquidation Process Regulations, 2016 to allow appointment of one registered valuer for each asset class in MSME liquidation cases. The change is aimed at reducing costs and simplifying the liquidation framework for smaller businesses.
The IBBI amended the CIRP Regulations, 2016 to permit appointment of one set of registered valuers for MSME corporate debtors. The change aims to reduce costs and streamline insolvency resolution for small businesses.
RBI has abolished the mandatory Investment Fluctuation Reserve requirement for commercial banks following changes in market risk and investment regulations. Banks must now transfer existing IFR balances to reserves or profit and loss accounts.
RBI has amended Investment Fluctuation Reserve norms for Small Finance Banks after identifying operational difficulties in maintaining IFR. The revised framework prescribes a minimum reserve linked to investment portfolio exposure.
RBI has amended Investment Fluctuation Reserve norms for Payments Banks after identifying operational challenges in maintaining IFR. The revised framework prescribes reserve creation linked to investment portfolio exposure and profitability.
RBI has abolished the Investment Fluctuation Reserve requirement for Local Area Banks following changes in prudential and market risk regulations. Existing IFR balances must now be transferred to statutory or general reserves.
