The amended rules replace annual KYC with a three-year filing cycle for directors holding DINs. The key takeaway is reduced compliance frequency alongside stricter reporting of personal detail changes.
The government has extended the existing MEP on Natural Honey exports. Exporters must maintain a minimum FOB price of USD 1400 per metric ton until 31 March 2026.
New monthly excise duty rates link retail sale price and packing machine speed for chewing tobacco, jarda and gutkha to strengthen capacity-based taxation.
The notification supersedes earlier exemptions and caps excise duty at revised rates for a wide range of tobacco products, effective 1 February 2026.
The government has decided to keep small savings interest rates unchanged for January–March 2026. The move ensures stability and predictability for investors relying on these schemes.
The amendment allows authorised government officers to execute indemnity bonds, simplifying name-removal procedures for government companies and their subsidiaries.
It was held that identity and address verification lies with the entity last uploading KYC data to CKYCR. AIFIs relying on compliant records need not repeat verification but remain responsible for all other CDD requirements.
The amendment specifies that identity and address verification rests with the entity that last updated CKYCR records. ARCs relying on such data are spared repeat checks but remain responsible for full customer due diligence.
The regulator held that identity and address verification rests with the entity last uploading KYC data to CKYCR. Local area banks relying on valid records need not re-verify, while remaining responsible for all other CDD requirements.
The amendment clarifies that identity and address verification lies with the entity that last updated CKYCR records. NBFCs relying on such records need not repeat verification but must continue full customer due diligence.
