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New EPFO rules mandate 3-day PF settlements, simplify withdrawalsGovernment revamps EPFO rules, mandating PF claim settlements within three days and imposing a 12% penal interest on officials for delays. ...- EPFO's new social security rules tighten claim timelines, mandate digital complianceNew social security schemes under the Code on Social Security are now in effect, prioritizing digital compliance and faster claim settlemen...
- Foreign investments in your portfolio? Follow this ITR checklist to avoid tax scrutinyResident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and ...
- ITR filing 2026: Foreign income and overseas assets? Avoid these 7 costly disclosure mistakesReturning Indians face new tax filing complexities. Foreign retirement accounts now necessitate the more detailed ITR-2, moving away from t...
- Didn’t report FD interest in your ITR? Here’s how you can still correct the mistakeMissed reporting your Fixed Deposit interest in your Income Tax Return? Don't worry, you can still fix it. The Income Tax Department receiv...
- Iran war, Strait of Hormuz reopening: Donald Trump is warned for tactics against Tehran by allies, critics. Here is whyIran war: A series of strikes by the U.S. and Iran this week has raised fresh concern the ceasefire could collapse. Donald Trump on Wednesd...
- ET Explainer: What RBI's norms on penal charges mean for borrowersThe Reserve Bank of India (RBI) has implemented new guidelines on penal charges for loan accounts starting from April 1. These regulations ...
- Banks, NBFCs to stop compounding penalty charges from April 1, 2024 as RBI extends deadlineThe RBI has released a circular extending the deadline to implement the revised guidelines on how banks, NBFCs are charge penal interest an...
- Are banks making a business out of punishing loan defaulters?The Reserve Bank of India (RBI) in August had instructing banks not to use penal interest rates as a revenue enhancement tool but rather to...
- Banks want norm barring penal interest rate deferred by three monthsLenders argued in a representation to the RBI earlier this month that penal interest rates lead to better credit discipline. They also said...
- RBI imposes Rs 2.5 crore fine on L&T FinanceThe Reserve Bank of India said L&T Finance failed to notify the change in penal interest rate to borrowers, when it charged penal interest ...
- RBI stops banks, NBFCs from compounding penal interest on loansThe Reserve Bank of India (RBI) has issued a circular on August 18, 2023 on penal charges that banks and other lending institutions can cha...
- Lenders can't levy penal interest on loan accounts from January 1: RBIBanks and non-banking finance firms (NBFCs) in India have been barred from imposing penalties in case of any default of the contract's term...
- RBI’s draft rules on penal charges on loans: What borrowers should knowThe Reserve Bank of India (RBI) has noted that many Regulated Entities (REs) impose penal rates of interest in addition to the acceptable i...
- RBI to stop banks from capitalising penal charges on loans defaultsThe quantum of penal charges should be proportional to the defaults/non-compliance of material terms and conditions of loan contract up to ...
- RBI to cap penal charges on loans payment missed by borrowersThe Reserve Bank of India (RBI) is set to cap the penal charges levied by the banks and non-banks related to loans payment missed by borrow...
- RBI to review arbitrary penal charges on loans; to release draft guidelines soonCurrently, the penal amount levied varies within banks and also among NBFCs. The penal charges levied are arbitrary by the bank i.e, each b...
- CIDCO slashes penal interest rate on delayed payment charges by 50%The decision is expected to provide relief to small and medium size realty developers in Navi Mumbai. Currently, developers pay 12% interes...
- Defaulting credit cards will attract 49% interest nowSupreme Court on Tuesday allowed MNC banks to charge hefty penal interest up to 49% on defaulted credit card payments, ending the respite t...
- RBI to charge penal interest for CRR defaultThe Reserve Bank of India (RBI), on Friday notified all scheduled commercial banks that it would charge penal interest for default in maint...
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