Abhinandan, Author at AuthBridge

RBI Adds Auto-Replenishment of FASTag Under E-Mandate

Abhinandan — Fri, 23 Aug 2024 06:18:18 +0000

The Reserve Bank of India (RBI) has recently made significant updates to its electronic mandate (e-mandate) framework, particularly focusing on enhancing the efficiency and convenience of toll payments through FASTTag. FASTTag, a system that leverages Radio Frequency Identification (RFID) technology, allows for seamless toll payments by automatically debiting the associated Read more…

The post RBI Adds Auto-Replenishment of FASTag Under E-Mandate appeared first on AuthBridge.

RBI Updates P2P Lending Guidelines: All You Need To Know

Abhinandan — Wed, 21 Aug 2024 06:40:07 +0000

Peer-to-peer (P2P) lending has emerged as a significant alternative to traditional banking channels in India, offering a platform for individuals to lend and borrow money directly without the intervention of banks. As the popularity of these platforms has grown, so too needs robust regulation to ensure transparency, fairness, and protection Read more…

The post RBI Updates P2P Lending Guidelines: All You Need To Know appeared first on AuthBridge.

NPCI Introduces UPI Circle To Allow Delegated Payments

Abhinandan — Fri, 16 Aug 2024 06:48:56 +0000

In a significant move to further enhance the inclusivity and utility of the Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) has introduced a groundbreaking feature known as “UPI Circle.” This initiative is designed to address the needs of users who remain dependent on cash for their Read more…

The post NPCI Introduces UPI Circle To Allow Delegated Payments appeared first on AuthBridge.

RBI Mandates Faster Credit Score Reporting For Lenders

Abhinandan — Fri, 09 Aug 2024 05:15:46 +0000

In a significant move towards enhancing the accuracy and timeliness of credit information, the Reserve Bank of India (RBI) has mandated a shift from the traditional monthly reporting of credit data to a fortnightly cycle. This new regulation, effective from January 1, 2025, requires Credit Institutions (CIs) to report credit Read more…

The post RBI Mandates Faster Credit Score Reporting For Lenders appeared first on AuthBridge.

ISD Registration Compulsory For Multi-State Presence Companies

Abhinandan — Wed, 07 Aug 2024 09:43:57 +0000

The Finance Bill, 2024, introduced several pivotal changes to the Goods and Services Tax (GST) law. Two significant amendments include mandatory Input Service Distributor (ISD) registration for multi-state companies and the imposition of penalties for unregistered machines in the manufacturing of pan masala, gutkha, and other tobacco products. Mandatory ISD Read more…

The post ISD Registration Compulsory For Multi-State Presence Companies appeared first on AuthBridge.

RBI Issues New Due Diligence Guidelines For AePS Touchpoint Operators

Abhinandan — Tue, 06 Aug 2024 11:32:02 +0000

The Reserve Bank of India (RBI) has introduced new guidelines aimed at fortifying the security of the Aadhaar Enabled Payment System (AePS). These guidelines, issued through a draft circular on July 31, 2024, outline the due diligence required by banks to verify AePS touchpoint operators, alongside proposing new methods for Read more…

The post RBI Issues New Due Diligence Guidelines For AePS Touchpoint Operators appeared first on AuthBridge.

GST Collection Rises 14.4% YoY In July 2024

Abhinandan — Fri, 02 Aug 2024 06:07:45 +0000

After facing flak from the public for not releasing data for June 2024, the Government of India has finally released the Goods and Service Tax (GST) Collection data for July 2024. The GST collection in July 2024 experienced a significant rise, showcasing a robust growth of 10.3% to over ₹1.82 Read more…

The post GST Collection Rises 14.4% YoY In July 2024 appeared first on AuthBridge.

ITR Filing Last Date 2024: Late Filing Penalty, Eligibility And Other Important Details

Abhinandan — Wed, 31 Jul 2024 06:24:42 +0000

The Income Tax Return (ITR) filing is a fundamental obligation for taxpayers in India. It involves declaring income earned over a financial year and paying the applicable taxes to the government. This process not only ensures compliance with tax laws but also helps individuals and businesses maintain a transparent financial Read more…

The post ITR Filing Last Date 2024: Late Filing Penalty, Eligibility And Other Important Details appeared first on AuthBridge.

Fake ITC Claims Detection Rises By 51% To Rs. 36374 Cr In FY24

Abhinandan — Tue, 30 Jul 2024 07:20:33 +0000

The detection of fake input tax credit (ITC) claims by central GST officers saw a remarkable rise of 50.6% in the fiscal year 2023-24, reaching a staggering Rs 36,374 crore. This substantial increase in detection by the Central Tax formations under the Central Board of Indirect Taxes and Customs (CBIC) Read more…

The post Fake ITC Claims Detection Rises By 51% To Rs. 36374 Cr In FY24 appeared first on AuthBridge.

RBI’s Key Facts Statement (KFS) Extended For All MSME, Retail Borrowers

Abhinandan — Fri, 26 Jul 2024 11:52:25 +0000

The Reserve Bank of India (RBI) has recently introduced the Key Facts Statement (KFS) guidelines aimed at enhancing transparency in the lending process for retail and Micro, Small, and Medium Enterprises (MSME) loans. These guidelines mandate that all banks and financial institutions provide clear and concise information about loan terms Read more…

The post RBI’s Key Facts Statement (KFS) Extended For All MSME, Retail Borrowers appeared first on AuthBridge.