The Finance Ministry plans to collaborate with banks and trader groups to ensure that the upcoming changes to the merchant discount rate (MDR) for high-value UPI transactions do not lead to higher costs for consumers, amid ongoing discussions and monitoring…
New changes to Employee Provident Fund rules under Scheme 2026 allow salaried workers to access up to 75% of their eligible balance for housing needs, balancing retirement security with homeownership opportunities. Employee Provident Fund rules on housing-related withdrawals have been…
New reporting rules introduced on 1 October aim to enhance traceability in cross-border real estate deals by streamlining compliance while maintaining effective tax collection mechanisms. The Income Tax Department has tightened reporting rules for property deals involving non-resident sellers, while…
India’s insurance regulator IRDAI has unveiled sweeping proposals aimed at overhauling policy sales and servicing, risking a shift from volume-driven to value-based advice amid calls for greater transparency and customer protection. India’s insurance regulator has set out a far-reaching plan…
The UK government’s plan to include unused pension funds in inheritance tax from 2027 is prompting advisers and retirees to explore innovative strategies, notably the revival of ‘back-to-back’ arrangements, amid concerns over fairness and complexity. The government’s move to bring…
India’s Supreme Court has delineated clearer procedures for classifying borrower accounts as fraudulent, emphasising disclosure and written responses over oral hearings, in a move to strengthen fairness and transparency in banking practices. India’s Supreme Court has drawn a clearer line…
Public sector and regional rural banks across India will operate on Sunday, September 27, as the government aims to mitigate disruptions from an impending three-day strike over working conditions and retirement benefits. Public sector banks and regional rural banks across…
Savings under Russia’s long-term savings programme are not automatically included in estates, requiring careful legal claims after death, with strict deadlines for beneficiaries to act. Savings held under Russia’s long-term savings programme are not folded into an estate automatically, meaning…
The introduction of a 0.4% merchant discount rate for qualifying UPI merchant payments could impact rupee deposits at forex brokers and crypto exchanges, with effects hinging on transaction classification and platform structuring. India’s new Unified Payments Interface merchant fee framework…
The Insurance Regulatory and Development Authority of India has unveiled a comprehensive plan to reduce operating expenses, overhaul commission structures, and enhance transparency in insurance practices, signalling a major shift in industry regulation. The Insurance Regulatory and Development Authority of…
Sebi evaluates measures to balance derivatives trading, including easing margins on long-term contracts, amid ongoing efforts to deepen India’s capital markets and curb short-term speculation. India’s markets regulator is weighing changes to the derivatives segment aimed at making it more…
The Central Board of Direct Taxes has announced a streamlined process for resident buyers and Hindu undivided families purchasing property from non-residents, removing the need for a TAN and introducing a PAN-based reporting system from October 2026. The Central Board…
