Daily Newsletter - August 4, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

Acts & Regulations:

RBI Master Direction

From the ICAI:

Guidance Note

Legal Updates:

IFSCA

News Update:

Indian News:

IRDAI penalizes Policybazaar Rs 5 crore for various violations including biased and misleading product promotions

I-T dept selects LTIMindtree to build PAN 2.0 for faster, unified services

Govt working on support measures to insulate exporters from Trump tariff: Official

GST evasion of Rs 7.08 lakh cr detected in 5 years, includes ITC fraud of Rs 1.79 lakh cr

CBI arrests Customs officer for ₹10.2 lakh bribe in cargo clearance case

Sebi pushes for structural reforms in derivatives after Jane Street fallout: Report

ED arrests ex-Axis MF manager in ₹2 trillion front-running scam probe

CCI widens antitrust probe against Google in online ad tech segment

Bizman arrested for Rs34cr GST Scam

'Sebi working on financial fraud checks': Sebi chairman Tuhin Kanta Pandey

India launches formal rules to fix, streamline drug and device clearances

Don't treat forensic accounting as a post-fraud tool, spot anomalies early: Sebi chief Tuhin Kanta Pandey to CAs

RBI approves merger of New India Co-operative Bank with Saraswat Bank

International News:

ISACA Expands Eligibility of First-ever Advanced AI Audit Certification

Exposure Drafts:

SEBI Drafts:

Consultation Paper on Amendments To Provisions Relating To Related Party Transactions Under SEBI (LODR) Regulations, 2015 And Circulars Thereunder
[Last date for Comments: August 25, 2025]

Consultation Paper on Amendment to the definition of Strategic Investor for REITs and InvITs
[Last date for Comments: August 22, 2025]

Modification in the conditions specified for reduction in denomination of debt securities and non-convertible redeemable preference shares (NCRPS)
[Last date for Comments: August 21, 2025]

Revised Norms for appointment of an independent third-party reviewer/ certifier for green debt security
[Last date for Comments: August 21, 2025]

Acts & Regulations:

RBI Master Direction:

Master Direction - Core Investment Companies (Reserve Bank) Directions, 2016 (Updated as on August 01, 2025)

From the ICAI:

Guidance Note:

Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961
[Revised 2025]

Legal Updates:

IFSCA:

Circular: Transition to IFSCA (Techfin and Ancillary Services) Regulations, 2025

Notification: IFSCA Fund Management (Amendment) Regulations, 2025

Notification: IFSCA (Procedure for making regulations and subsidiary instructions) Regulations, 2025