RBI directed banks to speed up credit of inward foreign payments. It held that delays at the beneficiary bank level must be minimized through faster processing and reconciliation.
The issue was inconsistency between RoDTEP and Customs Tariff descriptions. The amendment aligns classifications retrospectively, ensuring clarity and uniform eligibility for export benefits.
The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensuring domestic risk retention and structured profit-sharing.
The amendment mandates that Certificates of Origin can only be issued by DGFT-authorised agencies. It also introduces strict invoice matching requirements to ensure automated verification and compliance.
The authority extended food safety officers’ jurisdiction to major airports across India. This ensures stricter monitoring and compliance in high-traffic transit hubs.
FSSAI amended its 2021 notification by omitting several serial entries of Food Safety Officers. The update refines enforcement structure and jurisdiction allocation.
The amendment allows financial creditors to directly initiate insolvency with prior approvals, reducing delays. It ensures faster resolution and greater creditor control in insolvency proceedings.
Wood Pellet Export Shifted from Prohibited to Restricted Due to Policy Amendment & Wood Briquette Exports Restricted Despite Earlier Free Status: DGFT Amendment
The notification addresses revision of approved food analysts and laboratories. The authority updated the list by removing certain entries and adding new ones across India.
The DGFT restricted imports of several precious metal items under Chapter 71 with immediate effect. The ruling removes transitional relief, making restrictions applicable despite existing contracts.
