Category: Regulatory News
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No GST Notices on UPI Transactions, Clarifies Finance Minister
No GST Notices on UPI Transactions, Clarifies Finance Minister Union Finance Minister Nirmala Sitharaman has clarified in a written reply to the Lok Sabha that Central GST authorities have not issued any GST notices based on UPI transactions. Finance Minister’s clarification: “Central GST authorities have not issued any notices based on UPI transactions.” The clarification…
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Aadhaar Face Authentication Doubles To 200 Crore Transactions In Six Months
Aadhaar Face Authentication Doubles To 200 Crore Transactions In Six Months Aadhaar Face Authentication has set a new benchmark, reaching 200 crore total transactions as of 10 August 2025. The milestone comes less than six months after crossing the 100 crore mark, underscoring India’s rapid shift to secure, paperless, and contactless digital identity verification. UIDAI…
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Income-Tax Bill 2025 Withdrawn: Key Takeaways and Old vs Proposed Comparison
Income-Tax Bill 2025 Withdrawn: Key Takeaways and Old vs New Comparison Finance Minister Nirmala Sitharaman on Friday moved to withdraw the Income-Tax Bill, 2025 in the Lok Sabha, acting on recommendations from the 31-member Select Committee chaired by BJP MP Baijayant Panda. The House approved the withdrawal amid Opposition uproar. The Committee’s review, tabled on…
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Governor’s Statement: August 6, 2025
Namaskar and greetings to all in this month of Raksha Bandhan, Independence Day, Janmashtami, Parsi New Year and Ganesh Chaturthi. May this pious and auspicious month bring good luck to all of us and to our economy. The monsoon season has been progressing well. We are also approaching the festival season, which typically brings greater…
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RBI monetary policy statement: governor sanjay malhotra holds repo rate amid global uncertainty
RBI MONETARY POLICY DECISION PENDING: MPC MEETS AMID US TARIFF UNCERTAINTY RBI MONETARY POLICY DECISION PENDING: MPC MEETS AMID US TARIFF UNCERTAINTY The Reserve Bank of India’s Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, has begun its three-day meeting from August 4–6, 2025. The key repo rate decision will be announced at 10 AM…
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PAN 2.0 Project to Launch Next Year
The Income Tax Department has announced the PAN 2.0 Project, a major modernization initiative aimed at providing seamless, secure, and user-friendly taxpayer services. The project, with a financial outlay of Rs. 1,435 crore, will consolidate all PAN/TAN-related services under a single digital platform. IT services major LTIMindtree has been awarded the contract, and the new…
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CBDT Relief on Higher TDS/TCS for PAN-Aadhaar Linking
The Central Board of Direct Taxes (CBDT) has issued Circular No. 9/2025 on July 21, 2025, offering relief to taxpayers and deductors from higher TDS/TCS deductions due to inoperative PANs not linked with Aadhaar. As per Rule 114AAA of the Income-tax Rules, 1962, PANs become inoperative if not linked with Aadhaar, which triggers higher TDS…
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RBI Releases Financial Inclusion Index for March 2025
The Reserve Bank of India (RBI) has released the updated Financial Inclusion Index (FI-Index) for the year ending March 2025. The FI-Index, which was first introduced in August 2021 for tracking financial inclusion across India, has now reached a value of 67.0, marking a steady rise from 64.2 in March 2024. The increase reflects consistent…
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RBI Digital Payments Index Hits 493.22 in March 2025
The Reserve Bank of India (RBI) has announced that the Digital Payments Index (DPI) for March 2025 reached 493.22, marking an impressive rise from 465.33 in September 2024. This continued growth highlights the accelerating pace of digital adoption across India. Launched in January 2021 with March 2018 as the base (index = 100), the RBI-DPI…
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Ms. Anuradha Thakur Appointed as Director on RBI Central Board
The Central Government has nominated Ms. Anuradha Thakur, Secretary of the Department of Economic Affairs, Ministry of Finance, as a Director on the Central Board of the Reserve Bank of India (RBI). She replaces Shri Ajay Seth in this key role. The nomination is effective from July 24, 2025, and will remain in force until…