Weekly Newsletter - May 13, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

MCA Draft

SEBI Drafts

IFSCA Draft

Acts & Regulations:

RBI Master Directions

IFSCA Guidelines

From the ICAI:

FAQs issued by ICAI

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Article

Legal Updates:

RBI

SEBI

IFSCA

DGFT

Customs

News Update:

Indian News:

RBI relaxes approval norms for banks' outward remittance tie-ups

RBI may pay highest-ever dividend to help Centre tackle West Asia crisis

Sebi orders Rashmi Saluja to disgorge Rs 2 crore in insider trading case

Withdrawal of retirement provident funds to soon be automated: EPFO

Quick refunds, simpler filing: Income Tax dept explains impact of new law

ITR-3 changes: Experts explain what traders, freelancers should know

India raises import duties on gold: A timeline of hikes, cuts and comebacks

Rupee is down 11% in a year: Here's what the currency slide means for you

Companies fish for cyber cover as AI liability risks surface

Allahabad HC ruling on EPFO higher pension may widen relief for retirees

‘Unfair trade practice’: Consumer commission pulls up EPFO over decade-long PF delay, orders Rs 50,000 compensation

IDFC First Bank fraud case: ED arrests 2 former employees in Rs 645 crore embezzlement probe

IT form changes in FY26: Experts explain key updates taxpayers should know

New Aadhaar card rules 2026: UIDAI expands document list for enrolment; and more

How Google may have confirmed Anthropic’s Mythos fears that sent shock waves across banks and financial institutions

Govt revises release date for annual and Q4 GDP estimates to June 7

Sebi proposes phased physical settlement in select agri derivatives

Sebi proposes green-channel route to speed up AIF scheme launches

What PM Modi's WFH appeal means for India Inc's return-to-office push

Fake citations surged 12-fold since 2023, audit of 2.5 million biomedical papers reveals

Gig workers must work 90 days a year for social security benefits

CCI to probe Pernod Ricard, seven others

Govt working on FTA utilisation plan to maximise benefits for businesses

Sebi mulls overhaul of buyback framework; seeks comments

Sebi discontinues investor risk reduction access platform for stock brokers

Your in-hand salary may not change under the new labour code yet, know why

12 key income tax form changes every taxpayer should know: From Form 16 to Form 168

Govt extends subsidy scheme for companies flagging merchant ships until FY31

Govt reopens narrow FDI door to China-linked funds: How it impacts startups

EPFO overhauls PF trust rules: Risk-based audits, 2% interest cap on exempted establishments

International News:

KPMG closes U.S. federal audit practice, trims advisory staff

FASB publishes guidance on paid-in-kind dividends

The AI evolution in audit: Why technology elevates rather than eliminates professional development

[UK] Code of Ethics: Are non-compliance provisions working?

Exposure Drafts:

MCA Draft:

Stakeholder Consultations on Rationalisation of MCA Filing Architecture under the Companies Act, 2013
[Last date for Comments: May 15, 2026] 

SEBI Drafts:

Consultation paper on Review of the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015
[Last date for Comments: June 3, 2026] 

Consultation Paper on utilization of intraday borrowing lines by Mutual Funds
[Last date for Comments: June 3, 2026] 

Consultation paper on review of position limits for clients and penalty provision for violation / breach of position limits for Commodity Derivatives Segment
[Last date for Comments: June 2, 2026] 

Consultation Paper on ‘Phased Introduction of Physical Settlement in Select Agricultural Commodity Derivatives Contracts'
[Last date for Comments: June 2, 2026] 

Consultation Paper on Review of utilization of interest or income from IPF Corpus of Depositories
[Last date for Comments: June 1, 2026] 

Consultation on ‘Green-Channel: AIF Rollout Upon Document Acknowledgement’ (GARUDA) Mechanism for Processing of Placement Memorandum of Alternative Investment Funds (AIFs) filed with SEBI
[Last date for Comments: June 1, 2026] 

Consultation Paper on Review and Rationalization of (Buy-Back of Securities) Regulations, 2018
[Last date for Comments: May 29, 2026] 

IFSCA Draft:

Consultation Paper On Proposed IFSCA (Manner of Payment and Receipt of Premium) (Amendment) Regulations, 2026
[Last date for Comments: June 2, 2026] 

Acts & Regulations:

RBI Master Direction:

Master Direction - Miscellaneous (Updated as on May 13, 2026)

Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025 (Updated as on May 08, 2026)

Reserve Bank of India (Payments Banks – Prudential Norms on Capital Adequacy) Directions, 2025 (Updated as on May 08, 2026)

Master Direction - Money Changing Activities (Updated as on May 06, 2026)

IFSCA Guidelines:

Guidelines on Cyber Security and Cyber Resilience for Market Infrastructure Institutions (MIIs) in IFSC

From the ICAI:

FAQs issued by ICAI:

FAQs on Section 8 Companies under the Companies Act, 2013

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Article:

“I Know It’s Somewhere”: The Professional Risk of Disorganized Files

Legal Updates:

RBI:

Operating framework for facilitating Outward Remittance services by non-bank entities through Authorized Dealer (Category I) banks in India

SEBI:

Norms for sharing and usage of price data for educational purposes

Discontinuation of Investor Risk Reduction Access (IRRA) platform

IFSCA:

IFSCA (Finance Company)(Amendment) Regulations, 2026

IFSCA (TechFin and Ancillary Services) (Amendment) Regulations, 2026

Implementation services by Investment Advisers in the IFSC

Consumer Charter by Regulated Entities in the International Financial Services Centre (IFSC)

DGFT:

Clarifications on Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission – Niryat Protsahan [Trade Notice No.3]

Amendment of Appendix 2B [List of Agencies Authorised to issue Certificate of Origin (Preferential)] of Foreign Trade Policy, 2023 [Public Notice No.10]

Amendments in Para 2.88 and Para 2.91 of Handbook of Procedures [Public Notice No.9]

Enlistment and updation of Pre-Shipment Inspection Agencies (PSIAs) and Addition of Instruments of existing PSIAs in Appendix-2G under Para 2.52(c) of Handbook of Procedure (HBP), 2023 [Public Notice No.8]

Customs:

Seeks to amend notification No. 22/2022-Customs dated 30th April, 2022 to revise rates under India-UAE CEPA [Notification No.18]

Seeks to amend notification No. 57/2000-Customs dated 8th May 2000, which provides concessional rate for gold, silver and platinum imported under specified schemes [Notification No.17]

Seeks to amend notification No. 11/2018-Customs and notification No. 11/2021-Customs so as to revise SWS and AIDC applicable on certain items [Notification No.16]

Seeks to further amend notification No. 45/2025-Customs dated the 24th October, 2025, so as to notify BCD related changes [Notification No.15]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.45(NT)]

Implementation of Safeguard Duty on import of “Non-Alloy and Alloy Steel Flat Products” under Notification No. 02/2025-Customs (SG) dated 30.12.2025 [Circular No.23]

Amendment in the Notification No. 63/1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Samrang [Notification No.43(NT)]