Compliance

Banking Central | Did the Paytm Bank Board fail to do its duties?

Paytm Bank’s nine-member Board is filled with veterans from the financial sector, with at least two of them having experience in leading compliance functions at large international banks

Have a healthy whisteblower policy, create better workplaces

However, many executives, especially those at the top, resist such a policy, fearing internal strife, exposing misconduct within the organisation, or resulting in personal consequences for those involved

Jan Vishwas bill will reduce compliance & judicial burden, bolster ease of doing business, say experts

The bill seeks to decriminalise 183 provisions in 42 different laws, replacing imprisonment with a monetary penalty. This should go a long way in decluttering the courts and expedite resolution.

Startups stare at compliance nightmare, possible short-term cash flow crunch over 20% TCS rule

Startups and businesses generally allow employees to use corporate credit cards for business travel, international travel expenses including accommodation and food, and for other foreign spends like subscriptions.

SEBI's new circular on bank guarantees will brew a host of funding troubles for small brokers

Small brokers are in for a tough time as they will have to grapple not only with working capital issues but will also have to funnel in their own funds, in case they were using clients' funds for prop or arbitrage trading

Sebi bans pledging of clients' funds by brokers as bank guarantees

Existing BGs created out of clients’ funds shall be wound down by September 30 this year.

MC Explains: What are RBI norms for priority sector lending for banks?

These prescribe the proportion of loans that should be made to economically disadvantaged sections. Meeting these targets are considered while granting regulatory clearances and approvals for various purposes.

75 to 80 percent of ongoing real estate projects do not upload status reports: MahaRERA

The fallout of this is poor data, which comes in the way of policy framing and regulation, say MahaRERA officials.

Sebi clarifies in respect of compliance with rules by first-time issuers of debt securities

This comes after Sebi received representations from first-time issuers, who are in the process of preparing for their first listed privately placed or public issue of NCDs.

Fintechs need to ‘live' compliance, knowing regulations is not enough: Axis Bank MD & CEO Amitabh Chaudhry

Amitabh Chaudhry, MD & CEO of Axis Bank, added that while fintechs agree they understand the meaning of the word ‘compliance’, it is time they consciously start making it a part of their business model

RBI must conduct periodic reviews to better ease of compliance

The Regulations Review Authority is required to seek feedback from the regulated entities to simplify “procedures and enhancement of ease of compliance”. The aim of this exercise was to streamline reporting mechanism, revoke obsolete instructions, and obviate paper-based submission of returns

Union Budget 2022-23 | MSMEs bat for reduction in compliance burden, GST rationalisation

The Finance Ministry has sought suggestions on taxation from industry and trade bodies.

Restaurants, Food Manufacturers to get perpetual licenses: Report

Prime Minister Narendra Modi said the government was working to reduce compliance burden, further improve ease of doing business and cut down logistics costs for the industry.

80% of taxpayers fail to file GST returns for FY18; deadline extended till August 31

The Central Board of Indirect Taxes and Customs Chairman Pranab K Das in a letter to all top officials across the country is said to have encouraged them to initiate an outreach

ATM shutdown fears trigger operational cost vs consumer convenience debate

Cash withdrawals are rising despite a decline in ATM addition. This brings to the fore fears of a cash-crisis-like situation

A look at what GDPR entails and changes in compliance risk

To understand the risks associated with how information is processed, stored and transferred, an organisation must fully understand the data it collects and processes

GDPR – An insight that extends beyond fines and penalties

For India-based organisations, in addition to the IT Act 2000, and the Information Technology Rules 2011, GDPR readiness is a boom before our data protection act is released.

What is GDPR and why is it important?

The EU data protection reform was adopted by the European Parliament and the European Council on April 27, 2016.

How can Indian organisations prepare for the GDPR regime?

The nucleus of the GDPR is to strengthen and unify data protection for individuals within the EU as well as address the export of personal data

5 Questions to ask yourself on FATCA while investing in MF

FATCA guidelines have been brought in especially to track the situation with respect to US citizens and whether they have been disclosing the details of their investments abroad to the US tax authorities.

Start-ups flag taxation, compliance issues; govt to consider

Commerce and Industry Ministry today discussed various issues, including taxation and compliance, with start-ups and decided to take up the matter with the departments concerned, going ahead.

Basel-III: RBI makes it a must for banks to detail debt terms

"... on Basel III capital regulations, banks are required to submit a report to the Chief General Manager-in-charge, Department of Banking Regulation, RBI, giving details of the debt raised, including terms of the issue with a copy of the offer document, soon after the issue is completed," RBI said in a statement.