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IBA advises public sector banks to revise statutory audit policies following the Banking Laws (Amendment) Act, 2025, including reducing physical branch audit coverage to 50% of total business/advances.

IBA Recommends Public Sector Banks to Reduce Ambit of Physical Branch Audits to 50% of Total Business 

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The RBI imposed a Rs 5 lakh penalty on Bihar-based Monghyr-Jamui Central Co-operative Bank for failing to upload customers’ KYC records to the Central KYC Records Registry within the prescribed time limit.

RBI Imposes Monetary Penalty on Bihar-Based Monghyr-Jamui Central Co-operative Bank for Non-Compliance With KYC Guidelines

RBI has officially removed Paytm Payments Bank Limited from the Second Schedule of the RBI Act, 1934, following the cancellation of its banking licence and liquidation proceedings.

RBI Announces Exclusion of Paytm Payments Bank Limited from Second Schedule of RBI Act, 1934

RBI clarifies that eligible freelancers serving overseas clients need not report under the new EDF framework, while exporters can use self-declaration for bills up to Rs 10 lakh each.

RBI Eases Foreign Exchange Compliance for Small Exporters and Freelancers

RBI’s new foreign-exchange rules require service exporters, including freelancers and consultants earning from overseas clients, to furnish an Export Declaration Form (EDF) within the prescribed timeline.

RBI Introduces New EDF Filing Rule for Freelancers, Influencers and Other Service Exporters, Effective October 1, 2026

RBI has imposed an Rs 8.10 lakh penalty on Shri Ram Finance Corporation for regulatory lapses involving director appointment approvals, customer risk classification and timely uploading of KYC records.

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IBA Recommends Public Sector Banks to Reduce Ambit of Physical Branch Audits to 50% of Total Business

RBI Imposes Monetary Penalty on Bihar-Based Monghyr-Jamui Central Co-operative Bank for Non-Compliance With KYC Guidelines

RBI Announces Exclusion of Paytm Payments Bank Limited from Second Schedule of RBI Act, 1934

RBI Eases Foreign Exchange Compliance for Small Exporters and Freelancers

RBI Introduces New EDF Filing Rule for Freelancers, Influencers and Other Service Exporters, Effective October 1, 2026

RBI Imposes Rs 8.10 Lakh Penalty on Finance Firm Over KYC, Governance Lapses