Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Income Tax Appellate Tribunal (ITAT) ruled that a notice under Section 148 cannot be considered timely merely due to an earlier date if served beyond the limitation period.
The Calcutta High Court has quashed ongoing IGST refund proceedings, determining that the omission of Rule 96(10) renders the basis for show-cause notices invalid. This decision addresses the legal implications of procedural lapses in tax assessments.
The RBI amended the Responsible Business Conduct Directions for Regional Rural Banks to improve corporate governance and ethical practices within the sector, responding to ongoing challenges in asset management.
The Reserve Bank of India issued amendments to the Credit Risk Management Directions for Non-Banking Financial Companies to enhance frameworks dealing with asset quality risks.
The Reserve Bank of India has revised the Credit Risk Management Directions for Rural Cooperative Banks, aiming to enhance their risk assessment processes and operational frameworks amidst economic challenges.
The RBI issued a set of amendments concerning the resolution of stressed assets across All India Financial Institutions, aiming to enhance the regulatory framework governing asset recovery.
The RBI announced amendments to the Credit Risk Management Directions for Regional Rural Banks to enhance their operational frameworks amid ongoing challenges in asset quality.
The Reserve Bank of India amended the Income Recognition, Asset Classification and Provisioning Directions aimed at refining practices within financial institutions to deal with stressed assets more effectively.
The Reserve Bank of India has amended the Responsible Business Conduct Directions for All India Financial Institutions to align with the latest practices in risk management and ethical banking. These amendments aim to enhance corporate governance standards.
The Reserve Bank of India announced amendments to the Credit Risk Management Directions for All India Financial Institutions. These amendments aim to strengthen risk management frameworks to better address the challenges posed by stressed assets.
The Reserve Bank of India has established directions for the disbursement of government pensions through Agency Banks, providing a structured approach for implementation. This aims to streamline pension payments and ensure timely disbursements, enhancing service delivery.
The Reserve Bank of India issued guidelines regarding the conduct of government business by Agency Banks, outlining the payment of agency commissions and oversight mechanisms. This regulatory framework aims to enhance the efficiency and accountability of financial transactions handled by these banks.