Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
31 FAQs clarify coordination between RBI and Enforcement Directorate in FEMA violations. Distinctions from PMLA attachments and adjudication process outlined.
Updated guide to RBI's FIRMS portal covers FC-GPR, FC-TRS, FLA returns, Entity Master registration, and LLP reporting deadlines. Timely submission is mandatory under FEMA.
RBI prohibits rebooking of cancelled INR forex derivative contracts and reduces the unhedged position threshold to USD 5 million. New declaration requirements aim to prevent circumvention of hedging norms.
The Reserve Bank of India has increased the daily minimum Cash Reserve Ratio (CRR) maintenance requirement from 90% to 99%, effective 16 October 2026, under Section 42(1) of the RBI Act, 1934. The move aims to enhance liquidity discipline among banks.
The Himachal Pradesh High Court held that admission of a signature on a blank cheque raises a statutory presumption of its lawful issue under Section 139 of the Negotiable Instruments Act. Non-rebuttal leads to conviction.
The Kerala High Court held that a commercial suit filed before an ordinary civil court cannot be rejected for lack of jurisdiction. Instead, the plaint must be returned for presentation to the appropriate commercial court.
The ITAT has deleted a ₹2.45 crore addition by the Assessing Officer, holding that the department failed to obtain prior approval under Section 144(1) for raising fresh issues beyond the limited scrutiny notice. The ruling reinforces statutory limits on scrutiny assessment powers.
The Kerala High Court held that a commercial suit filed before an ordinary civil court cannot be rejected for lack of jurisdiction under the Commercial Courts Act. The plaint must be returned for filing in the appropriate forum.
RBI issues fresh guidance under Master Direction on Risk Management to strengthen foreign exchange risk reserve mechanisms. Focus on market discipline and orderly forex operations amid volatile global conditions.
RBI amends Commercial Banks (Miscellaneous) Directions, 2026 to clarify treatment of deferred option premiums, aligning with forthcoming instructions. Affects hedging and derivative structuring practices in forex and interest rate products.
RBI issues multiple amendment directions in October 2026 to align capital adequacy norms for commercial, payments, small finance, and all-India financial institutions with international standards, particularly on legal opinions and valuation adjustments.
RBI has revised the daily minimum cash reserve ratio (CRR) maintenance requirement, allowing banks to maintain 90% of required CRR daily, with fortnightly average compliance. Aims to ease liquidity management for scheduled banks.