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RBI slaps Rs 3.1 lakh fine on IIFL Finance for gold auction surplus payments to borrowers

RBI slaps Rs 3.1 lakh fine on IIFL Finance for gold auction surplus payments to borrowers

The Reserve Bank of India has imposed a Rs 3.1 lakh penalty on IIFL Finance after a supervisory inspection found regulatory compliance failures. RBI said IIFL Finance did not pay certain borrowers the surplus proceeds from auctions of pledged gold items, over and above the loan outstanding. Separately, RBI fined Appnit Technologies Rs 5.8 lakh for KYC and prepaid payment instrument violations, including allowing Aadhaar OTP e-KYC based PPI accounts to run beyond one year without required identification. RBI cited these issues as compliance deficiencies.

Summarised by Beize from a story on The Economic Times on 15 May 2026
Globbel launches cross-border ecommerce platform promising global expansion in weeks across 16 markets

Globbel launches cross-border ecommerce platform promising global expansion in weeks across 16 markets

Globbel has officially launched a unified cross-border ecommerce platform aimed at helping brands expand internationally across 16 markets in weeks rather than years. The system combines logistics orchestration, localized payments, tax and regulatory compliance, and marketplace or D2C storefront integrations into a single operating layer—built on Stelcore infrastructure that supports thousands of brands.

Summarised by Beize from a story on YourStory on 15 May 2026

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SEBI overhauls derivatives rules to cut exchange compliance and delete outdated requirements

SEBI overhauls derivatives rules to cut exchange compliance and delete outdated requirements

SEBI has launched a consultation proposing a broad overhaul of exchange-traded derivatives rules to reduce compliance load on stock exchanges and clearing corporations. In a May 14 paper, the regulator plans to simplify master circulars, remove redundant provisions, and streamline operational requirements across equity, currency, commodity and interest rate derivatives. Key ideas include deleting the commodity CTM option series, cutting mandatory Product Advisory Committee meetings, and letting exchanges advance contract expiries during disruptions with “adequate notice” instead of a fixed 10-day timeline.

Summarised by Beize from a story on The Economic Times on 14 May 2026
New Income Tax Act 2025 goes live 2026 with chatbot aid and simplified compliance plans

New Income Tax Act 2025 goes live 2026 with chatbot aid and simplified compliance plans

Pune’s Principal Chief Commissioner of Income Tax Vivek Wadekar announced the Income Tax Act, 2025, designed to simplify compliance and strengthen transparency. The law is set to launch on April 1, 2026, and will roll out digital support including “Kar Saathi,” a chatbot, and “Kar Setu,” aimed at assisting taxpayers throughout key processes.

Summarised by Beize from a story on The Economic Times on 12 May 2026
SEBI settlement with BofA over alleged insider trading data breach now confirmed

SEBI settlement with BofA over alleged insider trading data breach now confirmed

SEBI has issued a settlement order in a case involving BofA Securities India, alleging the firm failed to maintain the structured digital database mandated under insider trading regulations. A show-cause notice cited the compliance lapse, while BofA declined to comment on both the settlement order and the allegations. The case centers on record-keeping requirements rather than specific trades.

Summarised by Beize from a story on The Economic Times on 11 May 2026
DGCA orders airports to store security area and tarmac photo records for three years

DGCA orders airports to store security area and tarmac photo records for three years

The DGCA has issued a new compliance rule for airport operators: they must maintain records of all photographs taken in security hold areas and on the tarmac. These photo records must be preserved for three years and can be demanded by the DGCA for inspection at any time, adding stricter oversight around aviation security and operations.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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Online gaming firms push MeitY for clear rules fearing compliance chaos and user-safety gaps

Online gaming firms push MeitY for clear rules fearing compliance chaos and user-safety gaps

India’s online gaming industry is seeking guidance from the Ministry of Electronics and Information Technology on new gaming rules. Firms say they need clarity on how games will be classified, what compliance is required, and how approvals will work. They also argue that without a phased implementation, both user-safety steps and regulatory adherence could become unclear and inconsistent.

Summarised by Beize from a story on The Economic Times on 10 May 2026
Govt orders gig aggregators to register workers on portal within 45 days or pay 12% interest

Govt orders gig aggregators to register workers on portal within 45 days or pay 12% interest

The government has mandated that gig aggregators register workers by uploading their details to a central portal within 45 days under the Code on Social Security, 2020. If social security contributions are delayed, a 12% annual interest charge applies. The new compliance rules also require real-time recording of worker appointments and exits, tightening monitoring and reporting.

Summarised by Beize from a story on The Economic Times on 10 May 2026
RBI sets Rs 10 crore turnover threshold for money changers to tighten forex accountability

RBI sets Rs 10 crore turnover threshold for money changers to tighten forex accountability

The Reserve Bank of India has unveiled tighter oversight for the money changing industry, grounding the sector in banking principles. RBI set a ₹10 crore annual turnover threshold for authorized dealers and shifted compliance responsibility toward principal authorized dealers. The move aims to strengthen accountability for customer protection and ensure better adherence to forex transaction rules.

Summarised by Beize from a story on The Economic Times on 7 May 2026
FDI fast track expands to 40 sub sectors as new border ownership reporting rules kick in

FDI fast track expands to 40 sub sectors as new border ownership reporting rules kick in

India’s FDI fast track has been updated with a new SOP covering 40 sub-sectors, including strategic areas like rare earths and PCB-linked activities. The government is also issuing reporting guidelines for investments in India where the investor has direct or indirect ownership connections to citizens or entities from countries sharing a land border with India.

Summarised by Beize from a story on The Economic Times on 5 May 2026

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Infosys Wipro TCS race to rewrite data protection architecture for DPDP May 2027

Infosys Wipro TCS race to rewrite data protection architecture for DPDP May 2027

With India’s May 2027 deadline for the Digital Personal Data Protection Act approaching, major IT firms including Infosys, Wipro, SAP, and TCS are tightening their compliance frameworks. The push goes beyond policy updates: governance is being upgraded, incident response is getting stronger, and data protection controls are being embedded directly into product and system architecture to meet DPDP demands.

Summarised by Beize from a story on The Economic Times on 5 May 2026
West Bengal government orders officers to safeguard files and blocks unauthorized copying

West Bengal government orders officers to safeguard files and blocks unauthorized copying

The West Bengal government has issued strict instructions to departmental secretaries and heads of offices to safeguard official files and documents. No important records can leave office without authorization, and unauthorized copying or scanning is prohibited. Departmental heads will be personally responsible for compliance, with strict action promised for any deviation from the guidelines.

Summarised by Beize from a story on The Economic Times on 4 May 2026
Jan Vishwas Act key provisions kick in May 15 replacing jail with civil penalties

Jan Vishwas Act key provisions kick in May 15 replacing jail with civil penalties

New Delhi will see key provisions of the Jan Vishwas Act effective from May 15. The reform targets the criminalization of minor violations across multiple laws, shifting many cases away from jail terms toward civil penalties and administrative measures. By making punishments more proportionate, the Act aims to encourage compliance while reducing unnecessary punitive action.

Summarised by Beize from a story on The Economic Times on 2 May 2026
Post office rules changed for 2026 now PAN is mandatory for key transactions

Post office rules changed for 2026 now PAN is mandatory for key transactions

The Department of Posts has updated transaction norms under the Income-tax Rules, 2026. For specified post office transactions, customers must quote their PAN. If you do not have a PAN, you’ll need to submit Form 97 with complete details. The rules also introduce Form 121, replacing Forms 15G and 15H for claiming TDS exemptions.

Summarised by Beize from a story on The Economic Times on 1 May 2026

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India tightens OCI rules as new eligible Tamils gain access and fines loom for passport lapses

India tightens OCI rules as new eligible Tamils gain access and fines loom for passport lapses

India has revised its OCI (Overseas Citizen of India) framework, expanding eligibility to include fifth and sixth-generation Indian-origin Tamils in Sri Lanka. The update also removes the six-month waiting period after arrival for OCI applications. At the same time, stricter compliance is being introduced, including a fine if applicants fail to update passport details on time to improve monitoring and streamline processing.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
AI labelling rules get tougher in India as continuous transparency becomes mandatory

AI labelling rules get tougher in India as continuous transparency becomes mandatory

India’s IT Ministry is proposing stricter AI-generated content rules requiring labels to be continuous and clearly visible. The goal is to boost transparency and strengthen platform accountability, but experts warn it could be difficult to implement, raise costs for creators, and affect creative freedom and user experience. Industry stakeholders are split on whether the trust benefits outweigh the practical burden.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
India readies third Jan Vishwas Bill to cut compliance and ease business exits

India readies third Jan Vishwas Bill to cut compliance and ease business exits

India is preparing a third Jan Vishwas Bill, aimed at simplifying business processes and reducing compliance burdens. The government also plans to make it easier for companies to start operations and, crucially, exit when needed. In parallel, India has already finalized nine free trade agreements and is in talks on more partnerships with additional countries.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
RBI clamps down on small NBFC funding rules rejecting key industry pleas

RBI clamps down on small NBFC funding rules rejecting key industry pleas

The Reserve Bank of India has issued final directions for small NBFCs, turning down multiple requests from the industry. Key changes include treating equity investments in group entities as indirect public funds, classifying promoter and related-party borrowings as public funds, and viewing intra-group loans as customer interface. The RBI said these steps tighten compliance under existing norms.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026

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Labour Ministry to inspect firms dodging EPFO registration and tighten protections for workers

Labour Ministry to inspect firms dodging EPFO registration and tighten protections for workers

The Labour and Employment Ministry is set to roll out a comprehensive inspection program aimed at improving worker protections. The move targets companies that fail to register with the Employees’ Provident Fund Organisation, signaling a more proactive enforcement approach to plug compliance gaps and reduce the risk of workers missing out on benefits.

Summarised by Beize from a story on The Economic Times on 28 Apr 2026
RBI launches Mission SAKSHAM training to upskill every urban cooperative bank across India

RBI launches Mission SAKSHAM training to upskill every urban cooperative bank across India

The Reserve Bank of India has launched Mission SAKSHAM, a nationwide training programme for urban cooperative banks. Around 1.40 lakh participants—including board members, senior management, and key employees—will be trained to strengthen managerial and operational capabilities. The initiative also targets better regulatory compliance and builds institutional resilience, aiming to improve how UCBs manage critical functions.

Summarised by Beize from a story on The Economic Times on 28 Apr 2026
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