Cessation of liabilities for specified bank notes removes Reserve Bank and Central Government obligations while permitting limited exchanges.
The Ordinance provides that, on the appointed day, specified bank notes cease to be liabilities of the Reserve Bank and lose the Central Government guarantee. A grace period, to be notified by the Central Government, allows eligible holders to tender notes with required declarations; the Reserve Bank may verify and credit values to Know Your Customer compliant bank accounts, with representation available to the Central Board for refusals. Holding, transfer, or receipt of specified notes is prohibited subject to stated exceptions, and penalties and corporate liability rules are prescribed.

Specified bank notes grace period extended subject to FEMA limits and compliance with prescribed conditions.
Extension of the grace period under the Specified Bank Notes Ordinance is specified for Indian citizens with distinct deadlines for residents and non residents, subject to the condition that the amount of specified bank notes tendered does not exceed the limits prescribed under the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015, and that the conditions specified therein are complied with.

Designation change in Senior Citizens' Welfare Fund Rules: Joint Secretary substituted for Deputy Secretary, effective on Gazette publication.
The amendment replaces references to Deputy Secretary with Joint Secretary in clauses (b)-(g) of rule 4(3) of the Senior Citizens' Welfare Fund Rules, 2016, effectuating a designation substitution under the enabling provision of the Finance Act, 2015, and coming into force on publication in the Official Gazette.

Central registry of security interests links registration to enforcement and secures priority for registered secured creditors.
The Amendment Act recognises and defines asset reconstruction companies, debenture trustees and debt securities; authorises a Central Registry integrated with multiple registration systems; makes registration of security interests a public notice and a precondition for enforcement; grants the Reserve Bank audit, inspection and corrective powers over asset reconstruction companies; prescribes priority to registered secured creditors over subsequent interests and government dues (subject to insolvency law); and reforms procedural, penalty, electronic filing, stamp duty and depository provisions to operationalise registration, enforcement and recovery.

Rebate of State Levies: eligible garment exporters may claim remission subject to eligibility, recovery, and repayment mechanisms.
The ROSL Scheme provides remission of specified State levies on garment exports in addition to Duty Drawback, with rates and caps set by the Drawback Committee and notified by the Ministry of Textiles. Eligibility requires exporters to constitute an Internal Complaints Committee and to declare they will not claim these levies under any other mechanism; exports under pre-existing Advance Authorisation are excluded. Claims are optional, made at item-level with disbursal through Customs EDI and Ministry budgetary allocation; repayment and recovery follow Duty Drawback procedures where conditions (including receipt of sale proceeds) are not met.

Compulsory industrial licensing removed for specified ITC(HS) codes, altering licensing requirements under the Industries Act.
The Central Government, exercising powers under the Industries (Development and Regulation) Act, 1951, amends Schedule II to omit ITC(HS) Codes 22.03, 22.04, 22.05, 22.06 and 22.08 from serial number 3 of the list of industries for which compulsory industrial licensing is required; the omission takes effect on publication in the Official Gazette as a further amendment to the principal notification S.O.477(E).

Enterprise information furnishing mandates online submission to a central MSME data bank, defining required fields and verification.
All micro, small and medium enterprises must furnish prescribed enterprise information to the Central Government online through the MSME data bank using the annexed Form. The Form requires authenticated identifiers (Aadhaar, Udyog Aadhaar, PAN), enterprise classification, contact and address details, factory and product particulars, installed capacity, investment, turnover, banking and assistance history, export and technology intentions, certifications, and mandatory validations and uploads; information must be true and is submitted via the Central Government's data bank.

Digital Locker retention rules prescribe authority, provider obligations, consented URI access and mandatory security and audit requirements.
The rules create a Government administered Digital Locker system for preservation and retention of issuer issued electronic records, appointing a Digital Locker authority to license and manage service providers (portals, repositories, gateways) under DeitY technical standards. They set enrollment and operational protocols for subscribers, issuers and requesters (URI push/pull, consented access via gateways), require service provider compliance with authorising terms, mandate grievance officers, suspension/revocation procedures, subscriber credential duties, fee and portability rules, audit regimes with independent auditors, confidentiality protections, offsite backups, Indian data location, and adherence to prescribed security practices.

Amendment under Section 28A updates committee membership by substituting five member entries; effective on Gazette publication.
Central Government amends G.S.R. 38(E) by substituting serial numbers (2)-(6) with new member entries: Rajat Sethi (Member); K. V. R. Murty, Joint Secretary, Ministry of Corporate Affairs (Member); Jayanta Jash, Chief General Manager, SEBI (Member); Vithayathil Kurian, Director General (Commercial I), Office of the C&AG (Member); and Mahendra Khandelwal, Additional Government Advocate, Department of Legal Affairs (Member). The amendment is effective from publication in the Official Gazette.

Reference substitution in infrastructure cess notification: replaces bill-based citations with act-based citations and omits provisional collection wording.
The Government amends notification No. 1/2016-Infrastructure Cess to substitute clause-based references from the Finance Bill with corresponding sub-section references to the Finance Act, 2016, and to omit language invoking the Provisional Collection of Taxes Act; the amendment comprises three specific substitutions/omissions aligning the principal notification with the enacted Finance Act and removing provisional-collection wording.

Terminology change: Clean Energy Cess now construed as Clean Environment Cess across covered statutory instruments.
Directs substitution of the term Clean Energy Cess with Clean Environment Cess in all rules, notifications, instructions, decisions, and orders made or issued under the specified provisions of the Finance Act, 2010, construing existing references accordingly to effect a uniform change of nomenclature.

Roster authority granted to a CESTAT Member to reassign bench matters until a new President joins, ensuring tribunal functioning.
Authorization empowers the Member (Judicial) CESTAT, designated Head of Department, to prepare rosters and reassign bench matters to Members until the joining of a new President or further orders to ensure uninterrupted tribunal functioning; issued by the Department of Revenue with Finance Minister approval.

Credit guarantee for Stand Up India: scheme secures eligible loans to targeted entrepreneurs with staged claim and recovery rules.
Creates the Credit Guarantee Scheme for Stand Up India administered by NCGTC to guarantee eligible term loans and working capital facilities for SC/ST and women greenfield entrepreneurs up to prescribed ceilings. Participating lending institutions must enter agreements with NCGTC, submit quarterly batches of eligible accounts, pay a risk based guarantee fee, and observe appraisal, monitoring and recovery duties. The Scheme sets guarantee cover percentages, lock in and invocation rules, claim settlement mechanics including staged payments and recovery remittance, risk premium adjustments tied to NPA and payout ratios, and empowers the Fund to modify terms and inspect records.

Certificate of eligibility for startups required to access tax benefits under the Income Tax Act; Inter Ministerial Board constituted.
A certificate of eligibility is required for entities designated as startup under the Startup India initiative to claim specified tax benefits under the Income Tax Act. An Inter-Ministerial Board, composed of senior officials from the Department of Industrial Policy & Promotion, the Department of Biotechnology, and the Department of Science & Technology, is constituted to assess and issue that certificate of eligibility.

Vacancy allocation: direct recruitment and promotion equally share Junior Time Scale posts under structured eligibility and feeder cadre rules.
The rules constitute the Indian Revenue Service (Customs and Central Excise) Group 'A', specifying grades, authorised strengths and pay scales; recruitment to the Junior Time Scale is split between competitive examination by the Union Public Service Commission and promotion from specified Group 'B' feeder cadres with a prescribed promotion ratio. Promotions to higher grades are by selection or non functional placement subject to minimum service requirements listed in the schedules; probation, confirmation, seniority, non functional upgradation, committee compositions and service conditions are governed by the rules and Central Government instructions.

Credit guarantee for micro loans: first-loss portfolio cover with partial pro rata payout after lender's initial loss, subject to conditions.
The Scheme creates a Fund to guarantee collateral-free micro loans under PMMY through crystallised portfolios managed by NCGTC; lending institutions must pool eligible loans, submit auditor/management certifications and pay periodic guarantee fees. The Fund provides a first-loss portfolio guarantee where the lending institution bears initial losses and the Fund meets a pro-rata share of subsequent amounts in default subject to caps, risk-based fees, procedural conditions for invocation after portfolio crystallization, and obligations on recoveries and subrogation.

Coupon reset links special floating rate security interest to prior year's ten year government security yield, payable semi annually.
The notification fixes the annual interest rate for Postal Life Insurance Special Floating Rate Bonds, 2022 for financial year 2016-17 by reference to the daily average yield of ten year government securities in the preceding calendar year, with interest payable half yearly on September 30 and March 30.

Prohibition on tendering for reserved audit services: members must not bid unless tender prescribes minimum fee or allows others.
Members in practice are prohibited from responding to tenders for services exclusively reserved for chartered accountants, such as audit and attestation, except where the tender prescribes a minimum fee or where the services are open to other professionals; the guideline takes immediate effect and imposes an immediate compliance obligation.

Tribunal working day change: Saturdays replaced by second Saturday monthly, altering hearing and registry sitting schedules.
Amendment to the Debts Recovery Tribunal procedural rules substitutes the term "Saturdays" in rule 19 with "second Saturday of a month," concentrating tribunal and registry sittings from all Saturdays to a single designated Saturday each month, thereby changing the regular hearing and administrative schedule. The amendment is made under the Act's rulemaking power and takes effect upon publication in the Official Gazette.

Recruitment rules govern Deputy Director (Official Language) appointments, specifying promotion first, deputation options, qualifications and consultation requirements.
These rules prescribe recruitment to the post of Deputy Director (Official Language), classifying it as a Group 'A' selection post in Pay Band 3 and providing that vacancies are to be filled primarily by promotion from Assistant Director (Official Language) with specified service and training requirements, failing which by deputation including short term contract with prescribed eligibility, qualifications and experience; notes govern service reckonment, deputation tenure and age limits, and a Departmental Promotion Committee and UPSC consultation are specified.