Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedFrom April 2027, banks must adopt the RBI’s Expected Credit Loss (ECL) framework, a three-stage provisioning model based on credit risk deterioration and Effective Interest Rate (EIR) calculations.
FeaturedRBI introduces a forward-looking Expected Credit Loss (ECL) framework for banks effective April 2027, mandating three-stage provisioning, internal rating systems, and transitional relief measures.
FeaturedThe Karnataka High Court upheld that foreign nationals satisfying the definition of 'persons resident in India' under FEMA are not liable for penalties regarding FEMA violations.
FEMA 1999 regulates foreign exchange in India, empowering RBI to frame rules on capital and current account transactions, with penalties up to thrice the sum involved.
Entities with foreign investments must file FLA returns, FC-GPR, FC-TRS, and LLP reports on the RBI’s FIRMS portal by prescribed deadlines, with Business User registration required.
Madras High Court upholds denial of FCRA registration to a trust that misdeclared its religious activities, affirming disclosure requirements for religious entities.
RBI removes fixed remittance limits on Form A2, requiring authorized dealers to establish board-approved internal policies for processing physical and online remittance requests.
RBI has moved NRD-CSR (R012) reporting under the CIMS Sankalan Portal, requiring monthly submissions by the 10th with revised formats and three approved filing channels.
RBI mandates monthly filing of Export Declaration Form (EDF) for service exporters under FEMA from 1 October 2026. Non-individual entities must comply with 30-day filing deadlines and realisation norms.
RBI mandates the use of BIS-certified note sorting machines for authentication and fitness sorting in banks, replacing 268 outdated circulars with a unified master direction.
Effective October 1, 2026, the RBI has removed monetary limits on online submission of Form A2 for foreign remittances. The change, under A.P. (DIR Series) Circular No. 23, allows unrestricted digital processing of remittances under the Liberalised Remittance Scheme (LRS).
The Reserve Bank removes value thresholds for electronic remittances requiring prior Form A2 submission, streamlining compliance for authorised dealers and customers.