CBIC extends due date to file GST forms
CBIC extends due date to file GST form 8, form 7, form 6 & form 5.
RBI FAQs on the circular on ‘Reset of Floating Interest Rate on Equated Monthly Installments (EMI) based Personal Loans’
The circular exclusively applies to EMI-based personal loans. It does not extend to other loan types, such as business or commercial loans. Personal loans, as defined in the RBI’s earlier circular dated January 4, 2018, fall within its purview.
SEBI Consultation paper on proposal to increase the size criteria (set to guard against potential circumvention of Press Note 3 stipulations) in the additional disclosure framework
The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing an increase in the size criteria under the additional disclosure framework for Foreign Portfolio Investors (FPIs) and Offshore Derivative Instrument (ODI) subscribers. This move aims to address concerns about potential circumvention of Press Note 3 (PN 3) stipulations and adapt to the rapidly growing Indian securities market.
SEBI Circular on Revise and Revamp Nomination Facilities in the Indian Securities Market
On January 10, 2025, SEBI released a circular detailing a revised and revamped framework for nomination facilities in demat accounts and mutual fund (MF) folios. This update addresses critical gaps, aims to prevent unclaimed assets, and provides a streamlined process for asset transmission.
SEBI revises Procedure for seeking waiver or reduction of interest in respect of recovery proceedings initiated for failure to pay penalty
SEBI has delegated the power to waive or reduce the interest levied only in respect of recovery proceedings initiated for failure to pay penalty, to the Competent Authority
IRDAI’s Progressive Regulatory Framework
These amendments align with IRDAI’s broader goals of transitioning toward a modern, principle-based regulatory framework. They aim to streamline the conduct of meetings, enhance participation, and promote effective decision-making processes across advisory committees.
AI Touch Receives Grant to Develop AI-Driven 5G RAN Platform with RIC (RAN Intelligent Controller), SMO (Service Management and Orchestration), and NWDAF (Network Data Analytics Function)
AI Touch will develop components for disaggregated 5G RAN (Radio Access Network) including RAN Intelligent Controller (RIC), Service Management and Orchestration (SMO), and Network Data Analytics Function (NWDAF) modules.
WEP of NITI Aayog Partners With India’s Largest Convenience Retail Chain New Shop to Empower Women Retail Business Owners
EmpowHER Biz will offer mentorship and comprehensive training, covering retail management, digital tools, financial literacy and business development to aspiring women entrepreneurs. Through this collaboration with New Shop, WEP aims to create a robust retail ecosystem that empowers women entrepreneurs and drives sustainable growth in the sector.
CBIC waiving interest, penalties, or both for specific tax demands
Taxpayers must submit electronic applications on the common portal within three months from the notified date or six months for redetermined cases. Each notice or order requires a separate application.
Framework for Special Purpose Vehicle (SPV) for Co-Investment and Leverage Transactions
The International Financial Services Centres Authority (IFSCA) has introduced a consultation paper to operationalize a structured framework for Special Purpose Vehicles (SPVs) under the IFSCA (Fund Management) Regulations, 2022. This initiative aims to enhance the ease of doing business and foster the growth of the alternative investment industry within International Financial Services Centres (IFSCs).
