Statutory updates

Master Circular on Income Recognition, Asset Classification and Provisioning for UCBs

Primary Urban Cooperative Banks must apply prudential norms for income recognition, asset classification, and provisioning for advances.

Master Circular on Lead Bank Scheme

This master circular consolidates guidelines on the Lead Bank Scheme up to March 31, 2022.

Master Circular on Payment of Agency Commission to Agency Banks

This master circular consolidates instructions on the conduct of government business and the payment of agency commission by the Reserve Bank of India to agency banks.

Prudential Norms on Capital Adequacy for Urban Co-operative Banks

Primary Urban Co-operative Banks maintain a minimum Capital to Risk Weighted Assets Ratio of nine percent on an ongoing basis.

Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances

Framework of Incentives for Currency Distribution & Exchange Scheme

The Reserve Bank of India establishes a framework of incentives titled Currency Distribution and Exchange Scheme for bank branches and currency chests.

Penal Provisions for Currency Chest Reporting Deficiencies

Banks having currency chests must report all transactions through the CyM-CC portal on the same day by 7 pm.

notification no. 23/2022 f. no. 370142/8/2022 tpl pt.vii / gsr 252 e income tax 5th amendment rules 2022

Revised VDA (Minimum Wages) wef 01 April 2022

01/2022-Union Territory Tax : Seeks to amend notification no. 02/2019-Union Territory Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTCSeeks to amend notification no. 02/2019-Union Territory Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTC

02/2022-Union Territory Tax : Seeks to amend notification no. 02/2017-Union Territory Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTC

03/2022- Central Tax : Seeks to amend notification no. 10/2019-Central Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTC

04/2022- Central Tax : Seeks to amend notification no. 14/2019-Central Tax to implement special composition scheme for Brick Kilns, as recommended by 45 GSTC

Extension of Dispensation for Physical Signatures on Proposal Forms

The Insurance Regulatory and Development Authority of India extends the facilitation dispensing with physical signatures on proposal forms and permitting OTP based validation…

Extension of Timelines for Wet Signatures on Health Insurance Proposal Forms

The Authority extends the timeline for dispensing with physical signatures and wet signatures on health insurance proposal forms.

Guidelines for Liquidity Enhancement Scheme on Stock Exchanges

Stock Exchanges in the International Financial Services Centre may introduce liquidity enhancement schemes for listed securities and products.

Issuance of Electronic Policies and Dispensing with Physical Proposal Form Signatures

The Insurance Regulatory and Development Authority of India extends the relaxation for physical proposal forms and wet signatures until 30/09/2022.

Kotak Infrastructure Debt Fund Limited Notification

The Central Government notifies the infrastructure debt fund named the Kotak Infrastructure Debt Fund Limited for clause (47) of section 10 of the Income-tax Act, 1961.