Provisions of Banking Laws (Amendment) Act, 2025 notified
The implementation of these provisions marks a significant step towards strengthening the legal, regulatory, and governance framework of the Indian Banking Sector.
Ministry of Finance
PFRDA notifies Regulations to operationalize the Unified Pension Scheme
The Unified Pension Scheme was introduced to strengthen retirement security for Central Government employees through transparency, flexible and tax-efficient options.
Govt rolls out new Unified Pension Scheme under NPS for Central Govt Employees
One-Time UPS Option for NPS Employees.
Government appoints Finance Secretary Tuhin Kanta Pandey as the new chairman of SEBI
Mr Tuhin Kanta Pandey will replace Ms Madhabi Puri Buch.
Non – resident cruise operators to follow conditions specified in IT (First Amendment) Rules, 2025
These ships will come under the ambit of guidelines issued by Ministry of Tourism & Ministry of Shipping.
Centre appoints Justice (Retd.) Mayank Kumar Jain, Allahabad High Court as Judicial Member of SAT
The Department of Economic Affairs, Ministry of Finance notified the appointment on 03-01-2025.
Government appoints IAS Sanjay Malhotra as the 26th Governor of the Reserve Bank of India
The 25th Governor of the Reserve Bank of India, Shaktikanta Das, served at the post for 6 years.
Section 128-A of CGST Act notified providing relief to taxpayers having old tax obligations
Taxpayers are not required to pay extra interest or penalties on their previous tax obligations.
MoF notifies new rules for compounding under FEMA
Payment of the amount compounded will be done electronically and within 15 days from the date of compounding order.
Supreme Court permits bank employees who secured job under SC/ST category to retain jobs despite caste descheduling by Karnataka Government
Supreme Court reiterated that neither State Government nor Courts have the authority to modify Scheduled Castes list promulgated by Presidential order
Indexation Benefits on Capital Gains — An Analysis
by Bharathi Krishnaprasad* and Krishna Laasya**
Legislative Flaws in Arbitration Law
by Justice Basu Deo Agarwal*
Highlights of Budget 2024-2025: Focus on Employment & Skilling, MSMEs and Middle Class
Priorities for Viksit Bharat, revised tax structure, exemption of three cancer drugs from custom duty, abolishment of angel tax, simplification of capital gains taxation and more
‘The Memorandum’s intent appears to be protectionist’: The Arbitration Bar of India requests Ministry of Finance to withdraw memorandum on arbitration
“This Memorandum comes at a time when the world is looking to India to provide leadership in all spheres; more so given its economic heft. Instead of charting a path of growth by allowing businesses to realize their full potential, this Memorandum will potentially inhibit investment.”
CCPA publishes Rules for Employees of Central Authority
Central Consumer Protection Authority (Recruitment, Salary, Allowances and other Terms and Conditions of Service of Officers and Other Employees of Central Authority) Rules, 2024
CBDT exempts TDS for IFSC Units
The provisions will come into force on 1-4-2024.
MoF introduces International Exchange vide FEM (Non-debt Instruments) Amendment Rules, 2024
The definition of International Exchange introduced vide Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2024.
Courts should exercise restraint in exercising power of judicial review in contracts involving complex technical issues; SC reiterates
Supreme Court viewed that the Division Bench of Karnataka High Court, which was considering an appeal against a judgment of a Single Judge rejecting the writ petition, ought to have proceeded with circumspection.
MoF increases Gratuity Limit and Term Insurance Cover for LIC agents
On 18-9-2023, the Ministry of Finance approved a series of welfare measures for the benefit of Life Insurance Corporation of India (‘LIC’)