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March 24, 2026
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Unauthorised electronic banking transactions framework updated with compensation, AI fraud detection, and stronger mule account safeguards.
RBI has revised its framework on unauthorised electronic banking transactions, including a proposed compensation mechanism for small-value fraudulent transactions, to update customer-liability rules in response to technological change. The broader framework also relies on AI-driven fraud detection, mule account surveillance, real-time transaction monitoring, and public financial literacy campaigns to curb cyber fraud and strengthen safe banking practices.
March 24, 2026
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Unclaimed financial assets: regulators expand digital portals, nomination reforms and simplified claim processes to help rightful claimants trace funds.
Measures by RBI, IRDAI and SEBI simplify identification, tracing and settlement of unclaimed financial assets through claim reforms, digital portals, nomination requirements and awareness drives. RBI has consolidated claim directions, introduced an incentive scheme, supported common application procedures and launched UDGAM; IRDAI and SEBI have adopted similar tracing, documentation and portal-based mechanisms for insurance proceeds and mutual fund amounts. Banks transfer long-inactive balances to the DEA Fund, and a nationwide campaign supported restitution of unclaimed assets to rightful owners.
March 24, 2026
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Fundamental rights of ED officers shape maintainability debate over alleged obstruction during a money-laundering raid.
Maintainability of the ED's plea was examined in relation to alleged obstruction during a money-laundering raid at the I-PAC office. The issue was whether ED officers, acting in their individual capacity, could invoke fundamental rights under Article 32 and whether the petition had to identify the specific right allegedly violated. Arguments also addressed whether obstruction of statutory duties amounts to a constitutional violation and the relevance of Section 66 of PMLA in the context of the investigation and reporting of related offences.
March 24, 2026
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Transfer of assets in India reporting requires accountant-certified Form 4, electronic filing, and cross-verification of returned income.
Form 4 is an accountant's report for income attributable to transfer of assets located in India under section 9(10), filed once in a tax year along with the return of income. It captures taxpayer details, transfer particulars, income derived, values of Indian and global assets, valuation methodology, and supporting documents such as valuation reports, financial statements, and sale documents. The form is filed electronically with UDIN and digital signature, and is used for cross-verification of income offered in the return.
March 24, 2026
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AI wealth intelligence platform scales regulated fee-only advisory for Indian investors with unified financial insights.
A SEBI-RIA licensed wealth management platform has raised seed funding to scale a purpose-trained AI wealth intelligence product for Indian investors. The platform aggregates financial data across banks, brokerages, mutual funds, and other accounts into a unified view of assets, liabilities, portfolio performance, risk exposure, diversification, and concentration, and presents structured, actionable insights for personal finance decision-making. It operates on a zero-commission, fee-only advisory model aligned with investor interests.
March 24, 2026
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Income attributable to transfer of assets in India requires an accountant's report filed online with UDIN and a valid PAN.
Form 4 is an accountant's report for computing income attributable to transfer of assets located in India, to be filed once in a tax year along with the return of income through the e-filing portal with a valid PAN and UDIN. The form requires supporting valuation, financial, and sale-related documents, cannot be edited after submission, and does not require proof of tax payment at filing, though payment evidence may be needed for return processing.
March 24, 2026
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Cybercrime investigation coordination under money laundering law expands through data-sharing platforms, FIR access, and victim-centric complaint handling
The Enforcement Directorate has identified proceeds of crime in cybercrime investigations under the Prevention of Money Laundering Act, while sharing information with other law enforcement agencies through nodal officers and under Section 66(2) when relevant contraventions are noticed. It also uses the SAHYOG, Samanvaya and cyber police portal, along with the Inter-operable Criminal Justice System portal, for cybercrime data sharing, analytics and access to FIRs. A standard operating procedure has been issued for complaints through the National Cybercrime Reporting Portal and the Citizen Financial Cyber Fraud Reporting and Management System.
March 24, 2026
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Zero Coupon Bond compliance reporting under Form 3 requires accountant certification of investment use, timelines, and sinking fund maintenance.
Form 3 under Rule 7 is the accountant's certificate for notified Zero Coupon Bonds issued by infrastructure capital companies, infrastructure capital funds, infrastructure debt funds and public sector companies. It certifies, for each relevant tax year, the amount of bond proceeds actually invested and verifies compliance with the prescribed utilisation timelines, minimum investment thresholds and, for infrastructure debt funds, maintenance of a sinking fund and investment of accrued interest in Government securities. The form is filed electronically with digital signature or electronic verification and includes the accountant's certificate with UDIN where applicable.
March 24, 2026
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Aadhaar-based service delivery strengthens transparency, direct welfare transfer, and beneficiary targeting across public administration.
Aadhaar is highlighted as a governance instrument for transparent and efficient service delivery, linking citizens to bank accounts and enabling Direct Benefit Transfer so subsidies and financial assistance reach eligible beneficiaries directly. It is described as reducing fraud, eliminating ghost beneficiaries, and improving access to welfare schemes and government services across rural and underserved sections. The text also notes Aadhaar's use in birth registration, healthcare, health insurance claims, property-related matters, agricultural grain procurement, pension distribution, and food security implementation.
March 24, 2026
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Platform fee increases in food delivery reflect higher operating costs, GST inclusion, and rising delivery expenses.
Food delivery platforms increased the platform fee charged to users on a per-order basis, with the revised charge stated to be inclusive of GST. The fee is a fixed amount added to delivery and restaurant charges and is linked to operating costs, technology maintenance, and customer support. The increase comes alongside comparable revisions by competing services and against the backdrop of rising fuel costs affecting delivery operations.
March 24, 2026
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Accounting outsourcing services for SMEs expand compliance support across GST, payroll, income tax filing, and financial reporting.
Accounting outsourcing services for SMEs combine bookkeeping, GST compliance, income tax filing, payroll management, accounts payable and receivable support, and financial advisory under a single engagement model. The service package addresses rising demand from small and medium-sized enterprises seeking assistance with GST filing cycles, payroll compliance, audit preparation, and maintenance of accurate financial records while managing business operations. The offering includes monthly reconciliation and financial reporting, GST return filing, input tax credit reconciliation, ITR filing, payroll processing with PF/ESI compliance and TDS on salaries, vendor and debtor tracking, and budgeting and cash flow planning.
March 24, 2026
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Zero Coupon Bonds compliance certificate must be filed electronically each tax year by eligible issuers.
Form No. 3 is the prescribed accountant's certificate under rule 7 for certifying utilisation of funds raised through notified Zero Coupon Bonds. It is mandatory for each relevant tax year and applies to every issuer of a notified Zero Coupon Bond, including infrastructure capital companies, infrastructure capital funds, infrastructure debt funds, and public sector companies. The certificate must be filed electronically within two months from the end of the relevant tax year and is year-specific, with revision permitted only if the system enables it.
March 24, 2026
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Zero-coupon bond notification under Rule 7 requires strict filing, investment, rating and listing compliance before tax recognition.
Form 2 is the prescribed application under Rule 7 for infrastructure capital companies, infrastructure capital funds, infrastructure debt funds and public sector companies seeking notification of a proposed zero-coupon bond. Notification is a mandatory pre-condition for the bond to qualify as a zero-coupon bond and to obtain the special tax treatment of discount. The form collects applicant, bond and investment details so the Central Government can verify tenure, credit rating, listing, investment commitments and reporting undertakings.
March 24, 2026
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Turmeric export disruption hits Marathwada trade as conflict halts shipments and weakens domestic prices.
The conflict involving the US, Israel and Iran has disrupted turmeric exports from Maharashtra's Marathwada region, with shipments to Gulf and African markets reported to have stopped completely. The trade interruption has affected turmeric grown across the region's turmeric belts, including Hingoli, Nanded, Wardha, Parbhani, Yavatmal and Washim. The Vasmat variety from Hingoli received a Geographical Indication tag in 2024, and consignments from Hingoli and adjoining areas are shipped abroad after processing through Tamil Nadu and Kerala.
March 24, 2026
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AI-driven cooperative banking summit spotlights digital innovation, cybersecurity, regulatory compliance and sector-wide collaboration in urban cooperative banks.
The Bharat Cooperative Banking Summit & Awards 2026 is a three-day forum for urban cooperative banks focused on AI-driven cooperative banking, digital innovation, cybersecurity, regulatory technology, operational resilience and regulatory compliance. It brings together senior leaders, policymakers, regulators, fintech partners and technology providers for collaboration, knowledge exchange and alignment with evolving digital and regulatory expectations. The awards segment recognises excellence in leadership, innovation, governance, financial inclusion, digital transformation and service within the cooperative movement.
March 24, 2026
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Zero Coupon Bond notification requires mandatory advance filing of Form No. 2 with prescribed details and supporting documents.
Form No. 2 is the prescribed electronic application under rule 7 of the Income-tax Rules for notification of a Zero Coupon Bond under section 2(112) of the Act. Filing is mandatory before issue, must be made at least three months in advance, and is issue-specific. It is to be filed by an infrastructure capital company, infrastructure capital fund, infrastructure debt fund, or public sector company with the required details and supporting annexures.
March 24, 2026
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Client code modification reporting requires monthly online filing by stock exchanges for cash and derivative transactions.
A monthly statement is required from stock exchanges reporting modified client code transactions in cash and derivative market transactions. The form must be filed online by all stock exchanges through the income tax e-filing portal, and its smart-form format captures basic exchange details. The format also incorporates commodity derivative details previously associated with Form 3BC, which has been rendered redundant, while no other changes are made to the Cash Market and Derivative Market tables.
March 24, 2026
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Stock exchange reporting rules require monthly filing of client code modification statements through the e-filing portal.
Form No. 1 is a mandatory monthly statement to be furnished by a stock exchange for transactions in which client codes have been modified after registration in the system. It applies to both cash and derivative markets, must be filed within 15 days from the end of each relevant month, and is submitted only online through the Income Tax e-Filing portal. Once filed and acknowledged, it cannot be edited, and submission requires a valid PAN.
March 24, 2026
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Tax Year transition and repeal savings preserve continuity while the Income-tax Act, 2025 simplifies compliance and reorganises filings.
The Income-tax Act, 2025 replaces the Income-tax Act, 1961 as a streamlined and modernised code, while preserving the underlying tax policy, continuity of pending matters, and the existing compliance architecture. The new Act substitutes the concept of Assessment Year with Tax Year, applies prospectively from 1 April 2026, and continues the old Act for tax years beginning before that date. Transitional provisions preserve rights, liabilities, pending proceedings, tax payments, return filing, reassessment, appeals, deductions, and losses under the repealed Act, while the new Act reorganises forms, withholding provisions, and compliance statements in simplified and consolidated form.
March 24, 2026
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Anticipatory banking drives India hub expansion for stronger engineering, data, and cloud support across digital banking platforms.
Expansion of a global capability center in India to strengthen engineering, data intelligence and cloud architecture support for a digital sales and service platform used by financial institutions. The India hub is intended to deepen technical capacity for platform development, security, scalability and reliable digital banking delivery, while supporting the company's move toward anticipatory banking through data-driven and AI-enabled capabilities.

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Delhi CM Rekha Gupta presents Rs 1.037 lakh cr budget; Rs 22,236 crore for 'green initiatives'

March 24, 2026

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New Delhi, Mar 24 (PTI) Delhi Chief Minister Rekha Gupta on Tuesday presented a Rs 1.037 lakh crore budget for FY27, announcing several welfare schemes, including free diagnostic tests for newborn babies, free bicycles to 1.3 lakh girl students and laptops for meritorious students, and a new semiconductor policy, besides an 'emergency operation centre' for disaster management.

Presenting the budget for the second time in the Delhi Assembly, Gupta, who also holds the finance portfolio, called it a "Green Budget", pointing out that 21 per cent of the total appropriations are allocated to environmental protection initiatives.

For the next financial year, the government has earmarked Rs 260 crore to provide a free LPG cylinder each on Holi and Diwali to ration card-holding families --- a pre-poll promise of the BJP. The chief minister announced Rs 1,352 crore for developing dust-free roads, including end-to-end recarpeting of 750 km of roads across the city.

In her 116-minute speech, the chief minister highlighted several measures taken by the BJP government in the last year.

She said that the national capital has been progressing rapidly under a triple-engine government, highlighting that the city's per capita income is the third-highest in the country.

The government has earmarked Rs 19,326 crore for the education sector -- 18 per cent share of the total budget, followed by the health sector (Rs 13,034 crore), transport (Rs 12,613 crore), urban development (Rs 11,572 crore), social welfare (Rs 10,537 crore) and water supply (Rs 9,000 crore).

The chief minister also announced a slew of measures for women and assured that 'Mahila Samriddhi Yojna', a pre-poll promise of the ruling BJP, will soon be implemented with an outlay of Rs 5,110 crore.

Under the scheme, eligible women will be given Rs 2,500 per month, the chief minister said, adding that a portal for registration will be launched soon. The government will also set up 'Rani Haat' for women to link their skills with markets.

The Delhi government will provide 1,100 electric auto-rickshaw permits to women and transgender persons under a scheme aimed at promoting self-reliance, Gupta announced.

Meanwhile, Opposition AAP MLAs boycotted the budget presentation over suspension of four party legislators, prompting Speaker Vijender Gupta to criticise their decision.

The chief minister said her government will set up an 'Emergency Operation Centre' to deal with any disaster.

The budget estimates tax revenue of Rs 74,000 crore, while an allocation of Rs 11,666 crore has been made for the Municipal Corporation of Delhi (MCD).

Pointing out the problem faced by girls in commuting to schools, Gupta announced an allocation of Rs 90 crore in the budget for gifting bicycles to 1.30 lakh Class IX girl students of Delhi government schools.

During her budget speech, the chief minister also turned poetic as she said --- "Delhi ki raho me phirse ujala chhane laga hai...mehnat ka har deep ab jagmagane lga hai...nai umeedo ke sang kadam badaye hai...har adhure sapne ko phirse hum sajaye hai".

Highlighting the benefits of the Ayushman Bharat Health scheme, she announced that it will also cover transgender individuals and announced Rs 202 crore for the scheme.

She said the government was motivated to treat healthcare as "Upchar" (treatment), not as "Upkar" (favour), and earmarked Rs 12,645 crore for various projects and initiatives.

The government will open 750 new Ayushman Arogya Mandir and has allocated Rs 1,500 crore for it.

Gupta announced a new scheme ANMOL (Advanced Newborn Monitoring and Optimal Lifecare) for 56 free diagnostic tests of newborn babies in the city.

A huge allocation of Rs 19,148 crore was made for the education sector in the budget, including Rs 475 crore for construction and extension of school buildings.

She also said the Delhi government will open a Sainik School and demanded that the Centre set up 10 Kendriya Vidyalayas in the national capital.

The chief minister announced the conversion of Delhi's entire public transport bus fleet to electric buses by 2029, allocating Rs 8,374 crore for the transport sector.

She also announced that the Delhi government will introduce a semiconductor policy and develop infrastructure to support the industry's growth in the city.

In the infrastructure sector, Rs 5,921 crore has been earmarked for the public works department (PWD), while urban development and shelter projects have been allocated Rs 7,887 crore.

"Our aim is safe roads, climate corridors and flawless connectivity," Gupta said.

The government allocated Rs 3,942 crore for the power department, she said, adding that the government is also working on shifting overhead electricity wires underground with an outlay of Rs 200 crore for this purpose.

The chief minister announced Rs 300 crore for the development of the trans-Yamuna area of the city, while the Delhi Gram Vikas Board has been allocated Rs 787 crore.

The city government will also build an integrated secretariat and residential complex for employees, the CM said in her budget speech.

Citing the Palam fire incident, Gupta said narrow lanes and congested unauthorised colonies make it difficult to douse fires, adding that Delhi's firefighting infrastructure will be strengthened with an allocation of Rs 674 crore.

To tackle water-related issues, Gupta said new water pipeline projects are underway and Rs 9,000 crore has been allocated to the Delhi Jal Board for water and sewage management. PTI VIT SSM SHB AHD VBH SGV MSJ BUN BUN MR

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