The RBI has revised the framework governing agency and referral businesses undertaken by UCBs. The amendments focus on responsible conduct, transparency, and enhanced customer safeguards.
RBI has simplified the regulatory framework for NBFCs undertaking agency business by removing prior approval requirements in certain cases. The key takeaway is that easier market access now comes with stricter conduct and customer protection obligations.
The RBI has consolidated key regulations governing payment system operators into a single master framework. The Directions introduce perpetual authorisation, stricter eligibility norms, and enhanced compliance requirements.
CBIC has amended Notification No. 08/2026-Central Excise to revise the SAED rate on ATF exports outside India to Rs. 12.5 per litre from June 16, 2026.
CBIC has amended Notification No. 06/2026-Central Excise to revise the SAED rate on diesel exports outside India to Rs. 14 per litre from June 16, 2026.
IRDAI has amended its earlier notification to prescribe a 4% obligatory cession and require the entire cession to be placed with GIC Re. The amendment excludes premiums ceded to specified insurance pools from the cession requirement.
GSTAT instructed scrutiny officers not to raise defects where appellants have uploaded the required documents in prescribed form. The move aims to simplify the appeal filing process on the GSTAT Portal.
The amendment clarifies that NRIs and OCIs investing on a repatriation basis must use designated repatriable rupee accounts for specified transactions. The key takeaway is that the RBI has strengthened monitoring mechanisms to improve transparency and compliance in foreign investments.
RBI has updated FEMA regulations to modify payment modes, sale proceeds remittance, and reporting requirements for NRIs, OCIs, and other individual foreign investors. The amendment introduces designated repatriable accounts and revised LEC reporting obligations.
The 2026 amendment broadens investment eligibility under FEMA by allowing all individual persons resident outside India to invest in listed Indian companies. It replaces the earlier framework limited to NRIs and OCIs while retaining regulatory safeguards.
