Insights & Resources

The RBI has released the Draft Co-Lending Arrangements Directions, 2025, proposing a unified, market-enabling framework for regulated entities. The draft aims to streamline risk-sharing, pricing, and borrower protections across digital and traditional lending partnerships while replacing fragmented earlier guidelines. This explainer highlights key provisions, compliance expectations, and systemic implications.

The RBI has issued draft directions to regulate Non-Fund Based Credit Facilities such as guarantees, letters of credit, and partial credit enhancements. This write-up provides a detailed overview of the framework, its applicability to banks and NBFCs, the proposed exposure caps, and disclosure requirements, while highlighting the shift towards electronic guarantees and risk-based credit appraisals.

The RBI has released its draft 2025 Directions on lending against gold collateral, proposing a unified, principle-based framework for all regulated entities. These Directions aim to streamline prudential norms, standardise conduct practices, and strengthen consumer protection, while ensuring fair treatment and systemic stability in gold-backed credit markets.

SEBI’s 2025 amendments to the LODR Regulations introduce a new governance framework for High-Value Debt Listed Entities (HVDLEs) with ₹1,000 crore+ in listed NCDs. These norms align debt entities with equity governance standards, mandating board independence, committee oversight, and compliance timelines. This post unpacks key obligations, implications, and what debt-heavy issuers must do to remain compliant.

The RBI’s April 2025 Statement outlines key draft measures for co-lending expansion, stressed asset securitisation, harmonised gold loan norms, and UPI limit rationalisation. It further proposes a ‘theme-neutral’ fintech sandbox to foster continuous innovation. These reforms reflect the RBI’s proactive approach to market-based regulation, financial inclusion, and systemic resilience through stakeholder-driven policy development.

The CBDT has notified Form ITR-B as a new income tax return form specifically for block assessments arising from search and seizure actions. Effective retrospectively from 01.09.2024, the new r. 12AE introduces procedural clarity, a digital filing framework, and enables stricter scrutiny of undisclosed income and tax credit claims. This marks a key shift toward structured compliance in high-stakes search proceedings under ch. XIV-B.

The Central Government has revised the investment and turnover thresholds for classifying Micro, Small, and Medium Enterprises under the MSME Act, effective from 1 April 2025. The updated limits aim to broaden MSME coverage and enhance access to statutory benefits for a wider base of enterprises, subject to timely Udyam re-registration.

The CBDT has issued clarificatory FAQs to operationalise the 2024 Guidelines on compounding of offences under the Income-tax Act, 1961. This update explains the legal position on key procedural issues such as filing timelines, multi-jurisdictional applications, post-conviction compounding, and treatment of co-accused. The write-up unpacks the framework and highlights areas where discretion remains with the tax authorities.

SEBI’s 2025 amendment to the Insider Trading Regulations expands the definition of Unpublished Price Sensitive Information (UPSI), introduces new disclosure triggers, and streamlines compliance with structured data protocols. This regulatory update signals a decisive shift toward pre-emptive corporate transparency and robust market integrity safeguards.

The IFSCA has issued a comprehensive framework on cyber security and resilience for regulated entities operating in IFSC. These guidelines mandate robust governance, data protection, IT asset management, and incident reporting measures to counter escalating cyber threats. Regulated entities must adopt structured protocols, undergo annual audits, and manage third-party risk to ensure financial system stability.