by paras | Jul 31, 2024 | 2024, News Letter
The Budget 2023 revised tax structures increased standard deductions, and simplified capital gains tax, while boosting MSME support, infrastructure, and employment, and abolishing angel tax to aid startups. North Korean hackers from the Lazarus Group stole $230...
by paras | Jun 30, 2024 | 2024, News Letter
RBI’s measures protect borrowers from high floating rates, enabling them to switch to fixed rates, adjust EMIs, extend tenures, or prepay without penalties. Banks and NBFCs must transparently communicate rate changes, disclose fees, and provide clear, quarterly...
by paras | May 31, 2024 | 2024, News Letter
This month, RBI improves the governance of Asset Reconstruction Companies (ARC’s) by strong compliance of rules for increasing participation and investment in distressed asset resolution. RBI requires banks to increase its provisions for project finance from 1-2% to...
by paras | Apr 30, 2024 | 2024, News Letter
This month, RBI banned Kotak Mahindra Bank from adding any new customers due to non compliance. This ban will continue until they fix the issue. SFBs can now covert to Universal Banks if they meet the criterion set by RBI. So far, only AU Small Finance Bank meets the...
by paras | Dec 31, 2023 | 2023, News Letter
RBI Governor raised UPI transaction limits and simplified e-mandates for recurring online payments, exempting debit transactions below Rs 1 lakh from OTP authentication, and enhancing user convenience for payments to hospitals and educational institutions via UPI...
by paras | Oct 31, 2023 | 2023, News Letter
The RBI’s Reserve Bank Innovation Hub launched a Public Tech Platform for seamless credit, centralizing borrower data from banks, NBFCs, Fintech, and startups to boost efficiency. Axis Bank is piloting the platform, leveraging PAN, Aadhaar e-KYC, and Account...
