News

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.

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

Press Release

Kedarnath Urban Co-operative Bank has been penalised Rs 40,000 by RBI for non-compliance with KYC and SAF regulations.

RBI Penalises Kedarnath Urban Co-operative Bank for Regulatory Non-Compliance

PIB Fact Check has confirmed that the viral RBI letter demanding Rs 7,500 to release a Rs 1 lakh payment is fake and part of a scam.

PIB Warns Public Against Viral Fake RBI Letter Scam

The RBI has extended the due date for furnishing the annual census on FLA for the FY 2025-26 and also revised the email ID for all communication/queries. 

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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

RBI Penalises Kedarnath Urban Co-operative Bank for Regulatory Non-Compliance

PIB Warns Public Against Viral Fake RBI Letter Scam

RBI Extends FLA Return Filing Deadline to July 31, 2026; Changes Official Email for Queries