RBI//2024-2025/113 A.P. (DIR Series) Circular No. 20 February 13, 2025 All Category – I Authorised Dealer Banks Madam/Sir Export-Import Bank of India’s GOI-supported Line of Credit of USD 180 mn to the Government of the Socialist Republic of Vietnam for procurement of 4 Offshore Patrol Vessels (OPV) in the Borrower’s Country Export-Import Bank of India (Exim Bank) has entered into an agreement dated July 31, 2024, with the Government of the Socialist Rep...

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RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 14(R)(1)/2025-RB February 10, 2025 Foreign Exchange Management (Manner of Receipt and Payment) (Amendment) Regulations, 2025 In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following amendment in theForeign Exchange Management (Manner of Receipt and Payment) Regulations, 2023(Notifica...

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RBI/2024-25/112 DOR.CO.SOG(Leg) No.59/09.08.024/2024-25 February 11, 2025 All Agency Banks Madam / Dear Sir, All Agency Banks to remain open for public on March 31, 2025 (Monday) The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2025 (Monday-Public Holiday) so as to account for all the Government transactions relating to receipts and payments in the Financial ...

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RBI/FMRD/2024-25/127 FMRD.MIOD.No.12/11.01.051/2024-25 February 07, 2025 To All participants in Government Securities market Madam/Sir, Access of SEBI-registered non-bank brokers to NDS-OM Please refer to Paragraph 2 of theStatement on Developmental and Regulatory Policiesannounced as a part of the Bi-monthlyMonetary Policy Statement for 2024-25 dated February 07, 2025, on making the Negotiated Dealing System – Order Matching (NDS-OM) platform available for...

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RBI/2024-25/111 DoR.RET.REC.57/12.01.001/2024-25 February 07, 2025 All Banks Madam / Dear Sir, Change in Bank Rate Please refer to ourcircular DOR.RET.REC.101/12.01.001/2022-23 dated February 08, 2023on the captioned subject. 2. As announced in theMonetary Policy Statement 2024-25 dated February 07, 2025, the Bank Rate is revised downwards by 25 basis points from 6.75 per cent to 6.50 per cent with immediate effect. 3. All penal interest rates on shortfall in ...

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RBI/2024-25/110 REF.No.MPD.BC.398/07.01.279/2024-25 February 07, 2025 All Primary Dealers, Standing Liquidity Facility for Primary Dealers As announced in the bi-monthlyMonetary Policy Statement, 2024-25, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to6.25per cent with immediate effect. 2. Accordingly, the Standing Liquidity Facility provid...

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RBI/2024-25/109 FMOD.MAOG.No.150/01.01.001/2024-25 February 07, 2025 All Liquidity Adjustment Facility (LAF) participants Madam/Sir, Liquidity Adjustment Facility - Change in rates As announced in theMonetary Policy Statement dated February 07, 2025, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to6.25 per centwith immediate effect. 2. Consequ...

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RBI/2024-25/108 EFD.CO.No.1/02.08.001/2024-25 January 30, 2025 The Chairman / Managing Director / Chief Executive Officer, Authorised Payment System Operators / Banks Madam / Dear Sir, Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007 Please refer to theCircular DPSS.CO.OD.No.1328/06.08.005/2019-20 dated January 10, 2020on the ‘Framework for imposing monetary penalty on authorised payment syst...

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Circular No. 246/03/2025-GST F. No. CBIC-20001/14/2024-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing North Block New Delhi, Dated the 30th January, 2025 To, All the Principal Chief Commissioners/ Chief Commissioners All the Principal Directors General/ Directors General Madam / Sir, Subject: Clarification on applicability of late fee for delay in furnishing of FORM GSTR-9C- reg. ...

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Circular No.03/2025-Customs F.No. 524/17/2024-STO(TU) Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) North Block, New Delhi. Dated: 29thJanuary, 2025 To All Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive). All Principal Chief Commissioners/Chief Commissioners of Customs & Central Tax All Principal Commissioners/ Commissioners of Customs/Customs (Preventive) All Princ...

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RBI/2024-25/107 DOR.FIN.REC.No.58/03.10.136/2024-25 January 29, 2025 All Housing Finance Companies (HFCs) Dear Sir/ Madam, Private Placement of Non-Convertible Debentures (NCDs) with maturity period of more than one year by HFCs – Review of guidelines Please refer to Chapter XI ofMaster Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021wherein guidelines on private placement of NCDs by HFCs have been pre...

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Circular No. 244/01/2025-GST F. No. CBIC-190354/2/2025-TO(TRU-II)-CBEC Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 28th of January, 2025 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Regularizing payment of GST on co-insurance premium apport...

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Circular No. 245/02/2025-GST F. No. CBIC-190354/2/2025-TO(TRU-II)-CBEC Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated the 28th of January, 2025 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Clarifications regarding applicability of GST on certain s...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 08/2025 – CENTRAL TAX New Delhi, the 23rd January, 2025 S.O......(E).– In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee referred to in section...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 07/2025 – Central Tax New Delhi, the 23rd January, 2025 G.S.R... (E). –In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, n...

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CBDT notifies amendments in Income-tax Rules, 1962 to prescribe conditions for applicability of presumptive taxation regime for non-resident cruise ship operators As A Measure to Promote Investment and Employment, Finance (No. 2) Act, 2024 Inter Alia Provided A Presumptive Taxation Regime for Non-Residents, Engaged in The Business of Operation of Cruise Ships. Further, Exemption Has Been Provided for Any Income of a Foreign Company from Lease Rentals of Cruise Ships, Received from A Related C...

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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st January, 2025 INCOME-TAX G.S.R. 67(E).—In exercise of the powers conferred by section 295 read with the sub-section (1) of section 44BBC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:___ (1) These rules may be called the Income-tax (First Amendment) Rule...

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RBI/2024-25/106 DoR.SIG.FIN.REC.56/26.03.001/2024-25 January 20, 2025 All Asset Reconstruction Companies (ARCs) Dear Sir/ Madam, Guidelines on Settlement of Dues of borrowers by ARCs Please refer to paragraph 15 of theMaster Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024 dated April 24, 2024which prescribes guidelines on settlement of dues payable by the borrowers of the ARCs. On a review, it has been decided to revise these guidelines a...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 01/2025- Central Tax (Rate) New Delhi, the 16thJanuary, 2025 G.S.R. ......(E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5)of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on beingsatisfied that it is necessary in the public interest so to do, on the recommendations of the Council, herebymakes the followin...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 02/2025- Central Tax (Rate) New Delhi, the 16thJanuary, 2025 G.S.R. ......(E).- In exercise of the powers conferred by sub-section (1) of section 11 of the CentralGoods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessaryin the public interest so to do, on the recommendations of the Council, hereby makes the following furtheramendments in the notific...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 03/2025- Central Tax (Rate) New Delhi, the 16 January, 2025 G.S.R......(E).- In exercise of the powers conferred by sub-section (1) of section 9 of the Central Goodsand Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in thepublic interest so to do, on the recommendations of the Council, hereby makes the following furtheramendments in the notifica...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 04/2025-Central Tax (Rate) New Delhi, the 16 January, 2025 G.S.R. ......(E). -In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods andServices Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the publicinterest so to do, on the recommendations of the Council, hereby makes the following amendments in thenotification of ...

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RBI/2024-25/104 Ref.No.DoS.CO.PPG/SEC.13/11.01.005/2024-25 January 17, 2025 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) All Primary (Urban) Co-operative Banks All Deposit Taking NBFCs (Excluding HFCs) [Supervised Entities (SEs)] Madam / Dear Sir, Coverage of customers under the nomination facility As you are aware, the nomination facility is intended to minimise the hardship and facilitate expeditious settleme...

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RBI/2024-25/105 CEPD.CO.OBD.No.S1270/50-01-001/2024-25 January 17, 2025 Chairman/Managing Director/CEOs All Commercial Banks (including Regional Rural Banks, Small Finance Banks, Payment Banks, and Local Area Banks) All Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks All Prepaid Payment Instrument Issuers All Non-Banking Financial Companies (including Housing Finance Companies) All Credit Information Companies All Payment Aggre...

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RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 395(3)/2025-RB January 14, 2025 Foreign Exchange Management (Mode of Payment and Reporting of Non- Debt Instruments) (Third Amendment) Regulations, 2025 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Mode of Payment and...

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RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 10(R)(5)/2025-RB January 14, 2025 Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025 In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the F...

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RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 5(R)(5)/2025-RB January 14, 2025 Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025 In exercise of the powers conferred by sub-section (2) of section 6 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Deposit) Regulation...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 04/2025 – CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).- In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the return by an Input Serv...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION No. 06/2025 – CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).- In exercise of the powers conferred by first proviso to sub-section (4) of section 52 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the statem...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS NOTIFICATION NO. 05/2025–CENTRAL TAX New Delhi, the 10th January, 2025 G.S.R.....(E).– In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner , on the recommendations of the Council, hereby extends the time limit for furnishing the return by a regi...

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