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March 30, 2026
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Banking outlet coverage through GIS monitoring expands access in villages under RBI-guided infrastructure planning.
Banking outlet coverage in inhabited villages is monitored through the Jan Dhan Darshak GIS-based application, which tracks bank branches, Business Correspondents and India Post Payments Bank outlets within a five-kilometre radius. On the basis of bank-uploaded data, 99.92% of villages in the country and 100% of villages in Dadra and Nagar Haveli are covered within the prescribed radius. Expansion in uncovered areas is a continuous process under extant RBI guidelines, overseen by the State Level Bankers' Committee or Union Territory Level Bankers' Committee.
March 30, 2026
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Kisan Credit Card access expands through digital issuance, concessional lending, and stronger grievance redressal for farmers.
Measures supporting the Kisan Credit Card ecosystem focus on expanding credit access, improving digital issuance, and strengthening financial inclusion for farmers, including small and marginal farmers. Priority Sector Lending guidelines and the Ground Level Agriculture Credit target operate as key policy instruments for scaling KCC coverage, with a sub-target for small and marginal farmers and incentive and disincentive frameworks intended to encourage more equitable agricultural credit distribution. The KCC scheme also covers working capital for animal husbandry, dairying and fisheries, while the Modified Interest Subvention Scheme provides concessional short-term agricultural loans through KCC with an additional prompt repayment incentive.
March 30, 2026
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Priority sector lending supports rural credit flow through agriculture targets, refinance support, and self-help group programmes.
Priority sector lending and related government measures are used to maintain uninterrupted rural credit flow for agriculture, MSMEs and self-help groups. Reserve Bank of India policy requires specified banks to allocate at least 18% of adjusted net bank credit or credit equivalent of off-balance sheet exposures, whichever is higher, to agriculture, with a 10% sub-target for small and marginal farmers. Concessional refinance support and NABARD programmes further assist rural financial institutions, self-help groups and microenterprises.
March 30, 2026
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Rupee volatility and RBI forex exposure cap reshape market sentiment amid geopolitical tensions and dollar strength.
Rupee volatility in foreign exchange markets intensified amid geopolitical tensions, risk-off sentiment, elevated dollar demand and firmer crude prices, with the currency touching an intra-day low before settling lower against the US dollar. The Reserve Bank of India reduced the net open position that banks may maintain overnight and capped the Net Open Position (NOP-INR) for banks at USD 100 million, with compliance required by 10 April, as part of oversight of banks' foreign exchange exposure.
March 30, 2026
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Quarterly reporting of non-resident client details through Form 092 requires online filing, declarations, and timely verification.
Quarterly reporting requirements apply to specified funds and stock brokers dealing with non-resident clients under Rule 157. Form 092 is the prescribed quarterly statement for furnishing non-resident client particulars, including name, contact details, country of residence, Tax Identification Number, and, where TIN is unavailable, the unique identification number issued by the foreign jurisdiction. The form must be filed online on the e-Filing portal within 15 days from the end of each quarter, and all non-resident clients dealt with during the quarter may be reported in the same return.
March 30, 2026
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Public interest refusal to furnish information under income-tax law now uses electronic Form 91 with DIN authentication.
Form 91 is the statutory electronic form used by the designated Income-tax authority to refuse furnishing information requested under section 258(2)(a) of the Income-tax Act, 2025 where disclosure is not considered to be in the public interest. It is issued only by the competent authority, records the application reference, assessee details and relevant tax year, and states the refusal on public interest grounds. The form is authenticated through a system-generated DIN and electronic issuance details, creating a formal and traceable record distinct from forms used for furnishing information or intimation of non-availability.
March 30, 2026
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Money laundering probe intensifies as Nepal widens scrutiny of former prime ministers and protests continue after arrests.
Protests continued in Nepal after the arrest of former Prime Minister K P Sharma Oli and former home minister Ramesh Lekhak in connection with the alleged suppression of the Gen Z protests, while the Department of Money Laundering Investigation and police intensified scrutiny of former prime ministers Sher Bahadur Deuba, K P Sharma Oli and Pushpa Kamal Dahal. The probe expanded after preliminary enquiries and the arrest of former minister Deepak Khadka in a money laundering case, with allegations of financial benefits for facilitating licences and contracts and forensic confirmation of burnt banknote fragments.
March 30, 2026
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Public interest refusal for tax information requests through Form 091 by the designated Income-tax authority.
Form 091 is the prescribed income-tax form used by the designated Income-tax authority to refuse furnishing information sought under section 258(2)(a) of the Income-tax Act, 2025, where disclosure is not considered to be in the public interest. It is issued only after an information request is received and declined, applies separately for each tax year, and is authenticated by the authority's signature, name, and designation without requiring an official seal.
March 30, 2026
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Insolvency code amendments tighten timelines, add creditor-initiated resolution, and curb frivolous delays in the process.
Insolvency and Bankruptcy Code amendments introduce stricter timelines, an out-of-court creditor-initiated resolution mechanism, and an enabling framework for group and cross-border insolvency. The revised framework replaces the underutilised fast-track route with a creditor-initiated insolvency process based on debtor-in-possession and creditor-in-control principles, subject to safeguards and defined timelines. The amendments also provide deterrent measures against abuse of process, including penalties for vexatious and frivolous proceedings, and seek to protect the integrity of the resolution system by discouraging delay-causing litigation.
March 30, 2026
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Non-availability of information intimation under Form 90 is issued electronically after record verification and DIN authentication.
Form 90 is the electronic intimation issued by the designated Income-tax authority under section 258(2)(a) of the Income-tax Act, 2025, where requested information is unavailable in departmental records or no assessment has been made for the relevant tax year. It is generated after verification of records, authenticated through the Department's system with DIN, and includes the application reference, assessee name, and mandatory tax year. The form is event-based, has no fixed periodicity or due date, and standardises the term tax year for clear and traceable communication.
March 30, 2026
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Non-availability of information intimation under income tax law through Form 090 communicates missing records, not rejection.
Form 090 is the prescribed intimation used by the designated Income-tax authority to communicate that information sought under section 258(2)(a) of the Income-tax Act, 2025 is not available in departmental records for the specified tax year. It is issued electronically after verification of records, is event-based, and must be furnished separately for each tax year. The form requires the exact tax year, recipient details, DIN and date, application reference, assessee name, and a statement confirming non-availability of information or that no assessment has been made.
March 30, 2026
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Electronic information disclosure under the Income-tax Act, 2025 uses Form 89 for structured, traceable furnishing or refusal.
Form 89 is the electronic statutory form used by the designated Income-tax authority to furnish permissible information in response to a valid application by an authorised public authority under section 258(2)(a) of the Income-tax Act, 2025, for a specified assessee and a single tax year. It is an event-based form, furnished through the Department's system with DIN and system-generated authentication, and is linked to the corresponding application in Form 88. The form contains assessee particulars in Part A and disclosure-limited information details in Part B, and it also allows recording of refusal, wholly or partly, where disclosure is not considered to be in the public interest.
March 30, 2026
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Taxpayer information disclosure under authorised application governs Form 089, with electronic furnishing and limited, confidential disclosure.
Form 089 is the statutory online form used by designated income-tax authorities to furnish taxpayer-related information in response to a valid application made by an authorised public authority under section 258(2)(a) of the Income-tax Act, 2025. It is tax-year specific, furnished electronically, and may be used only for information available in departmental records and within the permissible scope of disclosure. The authority may refuse disclosure for unauthorised, invalid, incomplete, or overbroad requests, and the reasons must be recorded electronically.
March 30, 2026
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Assessee information requests under the Income-tax Act now require online Form 88 filing by authorised public authorities only.
Form 88 is the prescribed application for obtaining information about an assessee under Section 258(2)(a) of the Income-tax Act, 2025. It is available only to authorised public authorities, including regulatory and law-enforcement agencies, government departments authorised under Rule 155, and other competent authorities empowered by the Central Government. A separate application is required for each assessee and each tax year; consolidated requests are not allowed. The form must be filed online through the e-Filing portal with electronic verification and supporting documents uploaded electronically.
March 30, 2026
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E-commerce duty moratorium ends unresolved as WTO members defer tariff and TRIPS safeguards talks.
The World Trade Organization meeting ended without consensus on extending the moratorium on customs duties on electronic transmissions, leaving the issue of tariffs on digital downloads and streaming unresolved. The lapse of the moratorium also coincided with the expiry of the TRIPS non-violation complaint safeguard, increasing the possibility of challenges to WTO-compliant measures and reducing policy space for developing countries. Related WTO reform and e-commerce work programme discussions were also deferred for continued negotiation in Geneva.
March 30, 2026
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Insolvency and bankruptcy reform drives banking health, with proposed changes aimed at faster admission of resolution applications.
The Insolvency and Bankruptcy Code is described as a central mechanism for improving banking sector health through recovery of non-performing assets under the insolvency resolution process. The proposed amendment Bill seeks further changes to the framework, including measures to reduce the time taken for admission of insolvency resolution applications, while the resolution process is said to have coincided with better company performance and improved corporate governance.
March 30, 2026
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Taxpayer information requests under Form 088 require authorised filing, specific grounds, separate tax year submissions, and electronic portal authentication.
Form 088 is the online application used by authorised public authorities, regulatory bodies, law-enforcement agencies, and other competent authorities to seek specific taxpayer information under Section 258(2)(a) of the Income-tax Act, 2025. It must be filed separately for each taxpayer and each tax year through the e-Filing portal, with narrowly framed particulars, stated reasons, and supporting authorisation where necessary. Incomplete, overbroad, or unauthorised requests may be returned or rejected, and communications are issued electronically with portal-based status tracking.
March 30, 2026
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Tonnage Tax Scheme audit report filing requires accountant certification, supporting annexures, and electronic submission within the specified date.
Form No. 81 is prescribed for furnishing the audit report under section 232(21) for a company that has opted for taxation under the Tonnage Tax Scheme. The report, prepared and certified by an accountant, verifies books of account, computation of shipping income, compliance with charter-in limits, and other statutory conditions. It is to be furnished on or before the specified date and may include annexures such as charter arrangement certificates, related party notes, asset notes, and loss statements.
March 30, 2026
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Tonnage Tax Scheme reporting requires accountant certification, separate books, and detailed disclosure of shipping income and compliance.
Form 81 is an accountant's report for a company opting for the Tonnage Tax Scheme, certifying the correctness of books of account and income computation for qualifying ships. It requires separate books, disclosure of charter-in compliance, shipping income, statutory reserve details, ship-wise tonnage income, related party transactions, depreciation, non-exclusive assets, and losses, with mandatory annexures where applicable and reasons for any negative or qualified answers.
March 30, 2026
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Tonnage Tax Scheme option filing requires Form 80, supporting vessel documents, and electronic verification of eligibility.
Form No. 80 is the prescribed electronic application for an Indian company engaged in operating ships or inland vessels to exercise or renew the option to be governed by the Tonnage Tax Scheme. It requires particulars of the applicant, ships or inland vessels, supporting certificates and approvals, and is used to verify whether the statutory conditions for coverage under Chapter XII-G are satisfied.

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WeBank Wins Four Awards from The Asian Banker, Gaining International Recognition for its Digital Inclusive Finance Practices

March 16, 2026

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SHANGHAI, March 16, 2026 /PRNewswire/ -- At The Asian Banker "Global Excellence In Retail Finance Awards Ceremony And Gala Dinner 2026"on 12 March, WeBank received four major awards in recognition of its technological innovation and inclusive finance capabilities. The Bank once again retained the titles of "Best Digital Bank in Asia Pacific"and "Best Digital Bank in China". It also secured two additional awards for the first time: "Best SME Bank in China (Digital Bank) "and "Best Customer Experience Initiative in Asia Pacific" for its Weilidai sign-language customer service initiative. WeBank Wins Four Awards from The Asian Banker The Asian Banker Excellence Award Programme is widely regarded as one of the most authoritative awards in the global financial industry, with assessment standards that align with the highest international benchmarks. Renowned for its professionalism, impartial and rigorous judging process, and broad industry coverage, the programme is consistently recognised by financial institutions and research bodies alike. It attracts extensive participation from banks and fintech platforms across the Asia Pacific region, and its influence now extends well beyond the region to financial markets worldwide.

Seven Consecutive Years of "Best in Asia Pacific": Demonstrating Digital Banking Excellence Over the past decade, digital banking has expanded rapidly worldwide. The number of licensed digital banks has surged from 48 in 2014 to more than 400 today, driven by flexible, efficient technological frameworks and innovative service models. These institutions have increasingly moved beyond the constraints of traditional financial services, establishing a distinctive path for digital-inclusive development.

As China's first digital bank, WeBank has placed technology at the centre of its strategy, and through its innovative business practices has positioned itself as a widely recognised global leader in digital banking.Leveraging its technological strengths, the Bank continues to broaden and deepen inclusive finance, addressing the financing challenges faced by small and micro enterprises, self-employed businesses and individual customers. As of the end of 2025, WeBank had served more than 430 million individual customers and over 7 million small and micro enterprises, using technology to bridge the "last mile" in inclusive financial services.

AI is reshaping the global financial sector. In response, WeBank took the lead in 2025 by advancing its "AI-native Bank"strategy, placing itself at the forefront at the next phase of technological transformation. The Bank has strengthened its AI foundation across infrastructure, toolchain development and diversified application frameworks, while deepening integration of AI across all business scenarios. This included reshaping organisational structures and governance systems to support a shift from a "digital-native" to an "AI-native" operating model. Powered by AI, WeBank is driving end-to-end business transformation and setting the direction for the future of digital banking. The Bank has already deployed more than 100 AI application scenarios, supported by over 800 AI agents and more than 60 digital employees. These capabilities underpin a full-process upgrade of financial services, improving operational efficiency, enhancing risk management and optimising customer experience.

At the awards ceremony, WeBank was recognized for its outstanding digital banking capabilities, retaining the titles of "Best Digital Bank in Asia Pacific" and "Best Digital Bank in China". This marks the Bank's seventh consecutive win of the Asia-Pacific award and its eighth win of the China accolade, prestigious international distinctions that underscore its leading position in the digital banking sector.

The Asian Banker noted that, underpinned by its leading digital technology capabilities, WeBank has developed a distinctive and differentiated model for inclusive financial services, establishing a commercially sustainable approach to digital inclusion. This model enables a broader segment of small and micro enterprises, as well as individual customers, to access financial services on an equal footing, supporting the high-quality development of inclusive finance.

Finance for Good, Staying True to Its Original Mission: Inclusive Finance and Warmth Gain International Recognition During the panel, WeBank's strong track record in serving micro, small and medium-sized enterprises (MSMEs) and its commitment to barrier-free innovation received high recognition during the selection, earning two major awards for the first time: "Best SME Bank in China (Digital Bank)" and "Best Customer Experience Initiative in Asia Pacific" for its Weilidai sign-language customer service project.

Small and micro enterprises are the capillaries of the real economy and core beneficiaries of inclusive finance. Since launching China's first digital, unsecured working-capital business loan product "Weiyedai" in 2017, WeBank has continued to explore a commercially sustainable model for digital inclusive finance. By leveraging technology to address the "short, small, frequent and urgent" funding needs that often constrain micro and small enterprises, the Bank has broadened access to timely, affordable credit and strengthened support for the real economy.

As of the end of 2025, Weiyedai had covered 30 provincial administrative regions in China, received more than 7 million applications from MSMEs and sole proprietors, and provided credit services to more than 1.8 million clients for a total amount of RMB 1.8 trillion. The Asian Banker noted that these results reflect WeBank's ability to harness digital technology to allocate financial resources with precision and efficiency, enabling countless micro and small enterprises across diverse industries to access timely funding.

Technology provides the engine, but WeBank aims to ensure the experience remains distinctly human. Guided by its mission of "Better Banking for All", WeBank embeds a customer-centric philosophy throughout its service model and actively advances accessibility in financial services. As early as 2015, WeBank established a dedicated accessibility task force, launched remote video identity verification for "Weilidai", and appointed full-time sign-language specialists to support customers with hearing impairments, ensuring they receive fast, convenient and secure financial services. "Weilidai" became the first bank-affiliated financial product in the industry to offer sign-language video customer service. To date, it has issued more than 265,000 loans to customers with hearing impairments, amounting to over RMB 1.17 billion.

Winning four major awards this year reflects strong international recognition of WeBank's achievements in technological innovation, inclusive finance and customer service. It also underscores the Bank's contributions to the wider community. Looking ahead, WeBank will continue to use technology as its core growth engine and inclusiveness as its guiding principle, further deepening financial innovation, enhancing service quality and efficiency, and providing sustained financial momentum to support the high-quality development of the real economy.

(Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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