Income Tax Act amendment on cards on tax treatment of MSME dues

By Binarysoft Editorial Team   |   23-04-2024 07:14:00

Income Tax Act amendment on cards on tax treatment of MSME dues

A change introduced last year in the Income Tax Act to help small businesses receive timely payments might have had the unexpected effect of putting off buyers of their goods and services altogether. According to two people aware of discussions in th... Read More

Section 43B of Income Tax Act: Expenses businesses can cover apart from payment to MSMEs

By Binarysoft Editorial Team   |   10-05-2024 07:40:29

Section 43B of Income Tax Act: Expenses businesses can cover apart from payment to MSMEs

A section of MSMEs and traders in India is expecting the revision or revocation of the new clause h brought under Section 43B of the Income Tax Act, 1961 by the government to address the delayed payment issue of MSMEs. The concern among certain MSMEs... Read More

Say Goodbye to Manual Mapping—Automate Reporting with TallyPrime

By Binarysoft Editorial Team   |   18-08-2025 13:40:58

Say Goodbye to Manual Mapping—Automate Reporting with TallyPrime

In today’s fast-paced business environment, accountants, tax professionals, and small business owners face increasing pressure to prepare financial statements quickly and accurately. For non-corporate entities such as partnerships, proprietorships,... Read More

Prudential Norms on Specified Non-financial Assets (SNFA) Directions

By Binarysoft Editorial Team   |   06-05-2026 10:40:00

Prudential Norms on Specified Non-financial Assets (SNFA) Directions

Regulated entities (REs) are, in normal course, not expected to come into possession of non-financial assets in lieu of their regular lending operations. However, in exceptional cases, where the exposures become non-performing and legal or contractua... Read More

Winding up of Paytm Payments Bank Limited

By Binarysoft Editorial Team   |   29-07-2026 10:31:00

Winding up of Paytm Payments Bank Limited

The Reserve Bank of India (RBI) has, vide order dated April 24, 2026, cancelled the banking licence issued to Paytm Payments Bank Limited (PPBL) under Section 22(4) of the Banking Regulation Act, 1949 (‘BR Act’) effective from close of business o... Read More

Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Third Amendment Directions, 2026

By Binarysoft Editorial Team   |   29-07-2026 16:13:00

Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Third Amendment Directions, 2026

A bank generally does not transact in immovable assets as part of its core business operations, other than in exceptional cases where it acquires such immovable assets in satisfaction of its claims on the borrower. In order to provide clarity on the ... Read More

RBI Issues Amendment Directions on Interest Rate on Deposits

By Binarysoft Editorial Team   |   31-07-2026 10:36:00

RBI Issues Amendment Directions on Interest Rate on Deposits

The Reserve Bank, vide Press Release dated June 05, 2026, had issued the draft "Reserve Bank of India (Interest Rate on Deposits) Amendment Directions, 2026, seeking comments/feedback from the regulated entities and members of public/other stakeholde... Read More

Processing of Applications Received Under the Citizen’s Charter - Status as on July 31, 2026

By Binarysoft Editorial Team   |   04-08-2026 12:20:00

Processing of Applications Received Under the Citizen’s Charter - Status as on July 31, 2026

RBI regularly reviews the services covered under its Citizen’s Charter and the number of services under the Charter stands at 213 as on July 31, 2026.... Read More

RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks

By Binarysoft Editorial Team   |   06-08-2026 16:05:00

RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks

Reserve Bank has today published draft guidelines for ‘on tap’ licensing of Urban Co-operative Banks for stakeholder consultation. Comments are invited from public / stakeholders till September 05, 2026. Comments may be submitted through the link... Read More

Review of Guidelines on Concentration Risk Management - Rural Co-operative Banks

By Binarysoft Editorial Team   |   07-08-2026 11:47:00

Review of Guidelines on Concentration Risk Management - Rural Co-operative Banks

In pursuance of the announcement made with regard to the captioned subject in the Statement on Developmental and Regulatory Policies dated August 5, 2026, the Reserve Bank of India has today issued the following draft Directions for public comments... Read More

Reserve Bank of India (Priority Sector Lending – Targets and Classification) Second Amendment Directions, 2026

By Binarysoft Editorial Team   |   11-08-2026 10:30:00

Reserve Bank of India (Priority Sector Lending – Targets and Classification) Second Amendment Directions, 2026

Please refer to the Governor’s Statement dated June 5, 2026, and RBI circular FMOD.MAOG.No.S-56/01.06.016/2026-27 dated June 08, 2026 on ‘Swap Facility for FCNR (B) Deposits’, wherein it has been decided to introduce a US Dollar-Rupee swap faci... Read More

Winning in the AI Era: The New Playbook for Indian Banks - Inaugural Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the FIBAC 2026 Conference, Mumbai, August 11, 2026

By Binarysoft Editorial Team   |   12-08-2026 11:30:00

Winning in the AI Era: The New Playbook for Indian Banks - Inaugural Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the FIBAC 2026 Conference, Mumbai, August 11, 2026

It is my pleasure to be back here at the 2026 edition of the FIBAC. It is an important annual conference that brings together the stalwarts of banking and industry to exchange ideas, foster innovation and strengthen collaboration. I congratulate both... Read More

RBI invites comments on the Draft “Reserve Bank of India (Interest Rates on Loans and Advances) Directions, 2026”

By Binarysoft Editorial Team   |   14-08-2026 10:41:00

RBI invites comments on the Draft “Reserve Bank of India (Interest Rates on Loans and Advances) Directions, 2026”

The Reserve Bank has issued various instructions from time to time on interest rates on loans and advances for regulated entities (REs), with the objectives of ensuring effective monetary policy transmission, appropriate pricing of credit risk, and f... Read More

Forex inflows via FCNR(B) Deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) under Reserve Bank’s Swap facility

By Binarysoft Editorial Team   |   17-08-2026 10:14:00

Forex inflows via FCNR(B) Deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) under Reserve Bank’s Swap facility

RBI had introduced a special USD-INR Forex Swap facility covering FCNR(B) deposits, ECBs and OFCB inflows on June 08, 2026.... Read More

Auction of Government of India Dated Securities

By Binarysoft Editorial Team   |   18-08-2026 11:30:00

Auction of Government of India Dated Securities

The auction will be conducted using multiple price method. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (e-Kuber system) on August 21, 2026 (Frid... Read More

Convocation - 12th September, 2026

By Binarysoft Editorial Team   |   20-08-2026 14:42:00

Convocation - 12th September, 2026

The next ICAI Convocation will be held at the following Cities as per date mentioned, for Members enrolled from 1st May, 2026 to 15th August, 2026. They will be awarded Certificate of Membership/COP in the Convocation. Rank Holders of CA Final Examin... Read More

India’s Foreign Exchange Markets: Getting ready for the next Decade1 - Keynote Address delivered by Shri Rohit Jain, Deputy Governor on the Annual Day of the Foreign Exchange Dealers' Association of India (FEDAI) on August 14, 2026

By Binarysoft Editorial Team   |   21-08-2026 13:10:00

India’s Foreign Exchange Markets: Getting ready for the next Decade1 - Keynote Address delivered by Shri Rohit Jain, Deputy Governor on the Annual Day of the Foreign Exchange Dealers' Association of India (FEDAI) on August 14, 2026

Thank you for inviting me to FEDAI's Annual Day. My congratulations to FEDAI on this occasion. FEDAI was set up way back in 1958, when India's foreign exchange market was, in substance, an administrative arrangement around a rationed resource. It was... Read More

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