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Banking Regulation Act

Centre Notifies Enforcement Date for Key Provisions of the Banking Laws (Amendment) Act, 2025 [Read Notification]

Kavi Priya

The Ministry of Finance (Department of Financial Services) has issued Notification No. S.O. 4789(E) dated October 22, 2025, announcing that certain...

RBI Seeks Stakeholders’ Comments on Draft Directions on Lending to Related Parties [Read Draft]

RBI Allows Co-operative Banks to Invest up to 5% of Owned Funds in NABARD’s Shared Service Entity

Calcutta HC Upholds DRAT Order dismissing Appeal of MSME against action of Bank under SARFAESI Act...

RBI Revises Priority Sector Lending Norms for Small Finance Banks: PSL Target Reduced to 60% from FY...

FinMin exempts Indian Bank from Banking Regulations Act for exceeding Shareholding in ASREC (India) Limited [Read Notification]

The Ministry of Finance has announced a notification allowing Indian Bank a temporary exemption from certain provisions of the Banking Regulation Act, 1949. Specifically, the bank can now continue...

RBI Imposes ₹31.8 Lakh Penalty on Bank of Maharashtra for Aadhaar e-KYC Norm Violations

The Reserve Bank of India ( RBI ) fined the Bank of Maharashtra Rs. 31.80 lakh for not following the rules properly while opening bank accounts using Aadhaar-based OTP (one-time password) e-KYC in...

ITAT rules Section 115JB Inapplicable to SBI for AY 2006-07, Exempts Banks from MAT Provisions [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), provided relief to the State Bank of India (SBI) in an appeal concerning the applicability of Minimum Alternate Tax (MAT) provisions...

Failure to Consider Income Tax Assessee's Request for Personal Hearing Amounts to Violation of Natural Justice: Kerala HC Rules in favour of Federal Bank [Read Judgment]

In a ruling in favour of Federal Bank Ltd, the Kerala High Court held that failure of income tax authorities, by not considering a request for personal hearing of assessee has...

SBI and Canara Bank Slapped with Rs. 2.34 Crore Penalty by RBI for Regulatory Compliance Failures

The Reserve Bank of India ( RBI ) has imposed huge monetary penalties on two major players in the banking arena, namely the State Bank of India ( SBI ) and Canara Bank, citing violations and...

SBI and Canara Bank - Penalty - RBI - Regulatory Compliance Failures - taxscan

Banking company as per section 2(c) of Banking regulations Act, would be eligible for claim of deduction u/S 80P(2)(d) of Income Tax Act : ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Authority ( ITAT ) observed that Banking company as per Section 2(c) of Banking regulations Act, 1949, would be eligible for claim of deduction under...

Interest earned from Commercial /Cooperative Bank having License under Banking Regulation Act is considered under Head of Income From Other Sources: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that interest earned from commercial /cooperative banks having a license under the Banking Regulation Act is considered under...