Fund management registration and investor safeguards govern IFSC schemes, ETFs, portfolio services, and investment trusts.
Fund management in an International Financial Services Centre requires prior registration as a Fund Management Entity under Authorised, Non-Retail, or Retail categories. Applicants must meet legal-form, net-worth, infrastructure, governance, fit-and-proper, and key-personnel requirements. The framework governs venture capital, restricted, retail, special situation, and family investment schemes; ETFs; portfolio management services; and investment trusts. It imposes scheme-specific investor eligibility, investment, leverage, valuation, disclosure, contribution, custody, and governance obligations, supported by fair valuation, asset segregation, conflict-management, AML/CFT, record-keeping, cyber-resilience, risk-management, and investor-protection duties.

Export policy change for raw human hair: prohibition replaces restricted status, allowed only if FOB value meets specified threshold.
The export classification for raw human hair is amended from Restricted to Prohibited, with an operative exception that exports are treated as Free when the FOB value equals or exceeds the prescribed US Dollar threshold per kilogram; the amendment takes immediate effect under the Foreign Trade Policy provisions.

Scientific Research approval enables Bhaikaka University to qualify for tax benefits under section 35 of the Income-tax Act.
Approval designates Bhaikaka University, Anand, Gujarat, as recognised for Scientific Research in the category of "University, college or other institution" for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, issued under rules 5C and 5E of the Income-tax Rules, 1962, with retrospective effect from the date of Gazette publication, thereby making the institution eligible for the tax treatment tied to such recognition.

Protected-system designation for core banking and payment infrastructure restricts access to persons authorised in writing.
Computer resources supporting Karur Vysya Bank's Core Banking Solution, Real Time Gross Settlement and Unified Payments Interface Switch, including associated dependencies, are declared protected systems under the Information Technology Act, 2000. Access is authorised for designated employees, need-based managed service-provider personnel or third-party vendors, and specified consultants, regulators, Government officials, auditors and stakeholders, subject to written authorisation.

Protected systems designation requires written authorisation for access to core banking and payment switch resources.
Protected-system status applies to City Union Bank computer resources supporting its Core Banking Solution and Unified Payments Interface Switch, including associated dependencies. Access is limited to employees, service-provider and vendor team members, and specified consultants, regulators, officials, auditors and stakeholders, each authorised in writing under the applicable designation. The status takes effect upon Official Gazette publication.

Protected-system designation for banking payment infrastructure requires written authorisation for employee, vendor, and case-specific stakeholder access.
Karnataka Bank Limited's computer resources relating to its Core Banking Solution, Real Time Gross Settlement and Unified Payments Interface Switch, including associated dependencies, are declared protected systems as Critical Information Infrastructure. Access is authorised for designated employees, authorised managed-service-provider personnel and third-party vendors on a need-based basis, and consultants, regulators, government officials, auditors and stakeholders authorised in writing on a case-to-case basis. The designation takes effect upon publication in the Official Gazette.

Critical information infrastructure protection designates IDFC FIRST Bank payment and core banking systems as protected systems, restricting authorised access.
Critical Information Infrastructure comprising IDFC FIRST Bank's Core Banking Solution, Real Time Gross Settlement system, Immediate Payment Service Switch and Unified Payments Interface Switch, together with associated dependencies, is declared to be protected systems under section 70 of the Information Technology Act, 2000. The declaration applies to computer resources supporting these banking and payment functions.

Protected-system status secures UCO Bank's core banking and payment infrastructure, limiting access to specifically authorised persons.
Computer resources supporting UCO Bank's Core Banking Solution, Real Time Gross Settlement and Unified Payments Interface Switch, including associated dependencies, are declared protected systems as Critical Information Infrastructure. Access is limited to authorised UCO Bank employees, authorised managed service provider or third-party vendor personnel requiring need-based access, and consultants, regulators, government officials, auditors and stakeholders authorised on a case-to-case basis. The declaration takes effect upon publication in the Official Gazette.

Amalgamation of Special Economic Zones: single Multi Sector SEZ notified in Chenglepet Tamil Nadu; previous notifications superseded.
Central Government notifies the amalgamation of three sector specific SEZs into one Multi Sector Special Economic Zone developed by M/s. Mahindra World City Developers Limited at Chenglepet Taluk, Kancheepuram, consolidating a total notified area of 246.333 hectares. The notification, issued under the second proviso to sub section (1) of section 4 of the SEZ Act and rule 8 of the SEZ Rules, supersedes prior notifications and lists the survey numbers and parcel areas comprising the notified zone after the Board of Approval's recommendation and satisfaction of conditions under section 3(8) of the Act.

Regulation of securities contracts narrows permitted derivatives to government, gold-related and money-market securities, excluding non-permitted trades.
The amendment substitutes sub clause (1) to specify that contracts for sale or purchase of Government Securities, gold related securities and money market securities are covered, except for spot delivery contracts, contracts traded on a recognised stock exchange permitted by its rules and bye laws, and any other contracts specifically permitted by the Reserve Bank of India; the amendment takes effect upon publication in the Official Gazette.

Vintage motor vehicle import policy: classified vintage cars free for import by actual users subject to motor vehicle rules.
Vehicles meeting the Explanation to sub rule (1) of rule 81A of Chapter IIIA of the Central Motor Vehicles Rules, 1989 are classified as vintage motor vehicles and are free for import by Actual Users; Policy Condition no. 1(I) and 1(II) of Chapter 87 of ITC (HS) 2022 do not apply, while vehicles plying on public roads remain subject to the Motor Vehicles Act and imported vehicles must comply with Chapter IIIA conditions as amended.

Temporary identification number: persons not liable to GST registration but required to make payment may receive temporary ID.
The amendment inserts rule 16A allowing the proper officer to grant a temporary identification number to persons not liable to GST registration but required to make payment, to be issued by order in Part B of FORM GST REG-12; FORM GST REG-12 is substituted to provide structured orders for temporary registration (Part A) and temporary identification number (Part B), including prescribed particulars, officer signature, and transmission to jurisdictional authorities.

Late fee waiver for delayed reconciliation filings where GSTR-9C is subsequently furnished, with limited relief and no refunds.
The State Government waives the amount of late fee for certain past financial years that is in excess of the late fee payable up to the date of furnishing FORM GSTR-9, for registered persons who failed to furnish FORM GSTR-9C with the annual return but who subsequently furnish FORM GSTR-9C on or before the prescribed cut-off date; no refund is available for late fee already paid.

Annual statement filing requirement mandates detailed Form 49C reporting by non-resident liaison offices under amended rules.
Amendment mandates submission of an Annual Statement by non-resident persons having liaison offices in India using a revised Form No. 49C under rule 114DA, to be filed within eight months from the end of the financial year. The form requires detailed identification and contact particulars for the non-resident and its offices, PAN and foreign tax identification, RBI Annual Activity Certificate date and certifying chartered accountant details, officer-in-charge entries, compensation paid outside India to employees, liaison office-wise registration, activity and employee data, India-specific receipts/expenses, transaction details with Indian parties, group entity information, and an authorised verification declaration.

Infrastructure Debt Fund rules: tightened eligibility, investment limits, bond issuance conditions and minimum tenor for external borrowings.
Rule 2F is amended to require an Infrastructure Debt Fund to be set up as an NBFC under RBI rules, invest only in post commencement infrastructure projects with at least one year of satisfactory commercial operation or toll operate transfer projects as direct lender, and to mobilise funds via rupee or foreign currency bonds (subject to RBI and foreign exchange regulations), zero coupon bonds under rule 8B, or external commercial borrowings. ECBs must meet prescribed tenor and sourcing restrictions. The Fund is prohibited from investing in projects where a specified shareholder or associated enterprise has a substantial interest; "specified shareholder" is defined by a threshold of voting power.

Customs appointment: Rajkot added for unloading imports and loading exports, via CBIC amendment to notification framework.
The Board, exercising powers under section 7 of the Customs Act, 1962, amends Notification No. 61/94 Customs (N.T.) by inserting Rajkot in the Gujarat table as a designated place for the unloading of imported goods and the loading of export goods, thereby authorising those specific customs operations at that location.

Responsibility for AI use imposes data protection, output accountability and legal compliance duties on exchanges and clearing corporations.
Regulation 39B requires recognized stock exchanges and recognized clearing corporations using artificial intelligence and machine learning, whether developed internally or procured externally, to ensure the privacy, security and integrity of investor and stakeholder data, be accountable for outputs produced by such tools, and comply with all applicable laws; the definition covers applications or systems used for public-facing products or internal functions including trading, settlement and compliance.

Artificial intelligence accountability makes regulated entities responsible for data protection, AI outputs, and compliance when using automated tools.
Every Board-regulated person using internally designed or third-party artificial intelligence and machine-learning tools for business operations or investor servicing bears sole responsibility for investor and stakeholder data privacy, security and integrity, AI outputs, and compliance with applicable law. This responsibility applies irrespective of adoption scale or scenario and covers data held in a fiduciary capacity throughout relevant processes. Violations may invite action, including action under Chapter V.

Responsibility for artificial intelligence: depositories must ensure data security, output accuracy and legal compliance when using AI tools.
Amendments require depositories to pay annual fees within fifteen days from the start of the financial year and to forward remittance details with a chartered accountant certified statement of computation of annual charges. A new 9A imposes statutory interest on unpaid, belated or short payments of fees for every month of delay, without prejudice to other actions. New regulation 82AA mandates depositories using AI/ML tools to be solely responsible for data privacy, security and integrity, for outputs from such tools, and for compliance with applicable laws.

Late fee waiver for delayed annual return reconciliation where Form GSTR-9C is filed by the compliance deadline, no refunds.
Waiver of excess late fee where registered persons required to file Form GSTR-9C failed to furnish it with annual return in Form GSTR-9 for financial years 2017-18 to 2022-23, provided they submit Form GSTR-9C on or before 31 March 2025; waiver limited to late fee in excess of the amount payable up to the date of furnishing Form GSTR-9 and no refund of late fee already paid for delayed furnishing of Form GSTR-9C.