India’s ATMs are evolving rapidly to ensure uninterrupted service amid power challenges. Combining Uninterrupted Power Supply (UPS) technology with NPCI’s Interoperable Cardless Cash Withdrawal (ICCW)—UPI-based ATM withdrawals—banks now offer cardless cash access even during blackouts. Launched in 2020 and scaled by 2025, ICCW lets users withdraw via apps like Google Pay, PhonePe, Paytm, or BHIM,…
With the revised income tax slabs and new regime thresholds applicable for FY 2025–26, Forms 15G and 15H have been updated to align with India’s evolving tax framework. These changes aim to simplify compliance, enhance digitization, and ensure that eligible individuals and HUFs can avoid unnecessary TDS on interest and dividend income—provided their total taxable…
Limitation periods for legal documents in banking are governed by the Limitation Act, 1963, primarily under Articles 31-43 for negotiable instruments and related contracts. These periods start from specific events like due dates or demands, with extensions possible via acknowledgments or payments under Section 18-19. Banks must track these to enforce recovery suits timely. Key…
India’s Income Tax Department has released draft rules for 2026, renumbering key forms under the new Income-tax Act, 2025, effective April 1, 2026. This structural update simplifies form references without altering core compliance requirements. Key Form Renumbering The table below maps select old forms to their new numbers as per the draft Income-tax Rules, 2026,…
In the context of the Reserve Bank of India’s forward-looking measures, “currency” refers primarily to the Indian Rupee (INR) — not just as a medium of exchange, but as a strategic instrument for financial stability, economic resilience, and global positioning. Under the guidance of the Reserve Bank of India, currency management today goes far beyond…
The Reserve Bank of India (RBI) has released draft directions on the ‘Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents’. This move expands and updates existing guidelines, aiming to ensure fair practices across a broader set of institutions. Originally limited to Scheduled Commercial Banks (excluding Regional Rural Banks) and Housing…
The Reserve Bank of India (RBI) has released draft amendment directions allowing commercial banks to lend to Real Estate Investment Trusts (REITs) for the first time, harmonizing rules with Infrastructure Investment Trusts (InvITs) to promote balanced funding for income-generating assets. Key Highlights of the Draft These proposals, announced post the February 6, 2026, Statement on…
A Cash Credit (CC) account is a credit facility extended to a borrower in the form of running account (like a current account). Under this facility the borrower is permitted to continuously overdraw from his account up to a certain specified amount sanctioned by the bank. This type of funding is provided by banks on…
Overdraft means allowing the customer to draw cheques over and above credit balance in his account. Overdraft is usually allowed to Current Account Customers and in exceptional cases SB A/c holders are also allowed to overdraw their account. The high rate of interest is charged on the daily debit balance of overdraft account. There are…
The Reserve Bank of India (RBI) released its Statement on Developmental and Regulatory Policies on February 6, 2026, outlining targeted measures to deepen India’s financial markets. These initiatives focus on bolstering the corporate bond market, enhancing foreign exchange (FX) flexibility for authorised dealers, and refining the Voluntary Retention Route (VRR) for foreign portfolio investors (FPIs).…
