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  The Reserve Bank of India (RBI) on Wednesday issued final guidelines exempting non-banking financial companies (NBFCs) that do not avail of public funds, do not have a customer interface, and have assets of less than ?1,000 crore from the requirement to register with it. These NBFCs will be classified as “Unregistered Type I NBFCs”.Entities falling in this category will be exempt from registration requirements, provided they meet specified conditions, including operating a long-term business model without public funds or customer exposure. Boards must pass resolutions affirming compliance, while statutory auditors must certify the absence of public funds and customer interface.Existing NBFCs meeting these criteria have been given a one-time window to apply for deregistration by December 31, 2026 — introducing, for the first time, a structured exit route from the regulatory framework. Applications for deregistration must be made through the RBI’s PRAVAAH (Platform for Regulatory A...

  India’s efforts to steady the beleaguered rupee are likely to get harder in the coming months, as insufficient capital inflows replace speculative bets as the main pressure point.The Reserve Bank of India took aggressive steps recently to curb speculation, yet the currency fell to a record closing low on Wednesday. With the US-Iran war — now entering a third month — keeping oil prices elevated, and capital inflows muted, economists are widening their estimates of the nation’s balance of payment deficit.Kotak Mahindra Bank pegs the gap at $50 billion this fiscal year, versus deficits of $39 billion and $5 billion in the previous two years. IDFC First Bank sees it widening to $40 billion—$50 billion from an estimated $35 billion in the prior period. “The fundamental balance of payments picture continues to look weak, so the pressure on the rupee may persist,” said Rahul Bajoria, head of India economics research at BofA Securities India. “The RBI’s steps do provide relief, but we do...

  The Reserve Bank of India’s outstanding net short dollar position in the rupee forward market rose to $77.25 billion by the end of February, the highest since March 2025, the latest data by the central bank showed. The net short position by the end of January stood at $68.42 billion.Short positions in less than one year remained unchanged at $28 billion, while those in longer-than-one-year tenures rose by around $9 billion to $49 billion.Of the $77 billion net short dollar position, $10.9 billion was in one-month contracts, $5.9 billion in one- to three-month tenures, $11.7 billion is set to mature between three months and a year, and the remaining $49 billion was in contracts of more than a year.   -Business Standard 01 st  April,2026

  The Reserve Bank of India (RBI) late on Monday deferred the capital market exposure norms to July 1. These norms, which include acquisition financing guidelines, were scheduled to come into effect from April 1.RBI said it had received representations from banks, capital market intermediaries, and various industry associations seeking an extension of the effective date, and also flagging certain operational and interpretational issues for clarification."On a review, based on further discussions with the stakeholders, it has been decided to extend the effective date of the said Amendment Directions by three months to July 1, 2026," RBI said in a statement.Moreover, the regulator proposed a few changes while clarifying certain provisions relating to acquisition finance and exposures to capital market intermediaries. RBI said the definition of acquisition finance has been modified to include mergers and amalgamations. It also said acquisition finance may be extended only for ac...

  Gross GST collection increased by 8.1 per cent to over Rs 1.83 trillion in February, led by higher growth in revenues from imports and improved domestic sales.Gross domestic revenue rose 5.3 per cent to about Rs 1.36 trillion, while gross import revenue climbed 17.2 per cent to Rs 47,837 crore.Total refunds were up 10.2 per cent at Rs 22,595 crore.Total net Goods and Services Tax (GST) collection stood at over Rs 1.61 trillion, up 7.9 per cent year-on-year.Net cess revenue was Rs 5,063 crore, down from Rs 13,481 crore in February last year. GST rates on about 375 items were slashed, making goods cheaper, effective September 2025. Also, four tax slabs of 5, 12, 18 and 28 per cent were merged into two of 5 per cent and 18 per cent, with a highest 40 per cent slab for a select few ultra luxury goods and tobacco products.The GST collections had initially dipped in the first month of tax cut implementation, with revenues declining to Rs 1.70 trillion in November. The collection rose t...

  The net goods and services tax (GST) revenue in February rose 7.9 per cent year-on-year to ?1.61 trillion, excluding GST compensation cess receipts, marking the highest growth rate in the past six months, according to government data released on Sunday.In absolute terms, the net GST revenue for February is the third highest in the last six months, after January at ?1.7 trillion and October at ?1.69 trillion. On a sequential basis, February’s collection declined by nearly 5.7 per cent, the data showed.The Centre discontinued the compensation cess from February 1. The compensation cess of ?5,063 crore reported in February relates to transactions carried out in January. Total GST refunds rose 10.2 per cent, with domestic refunds declining 5.3 per cent and import-related refunds rising 26.5 per cent. Meanwhile, gross GST revenue increased 8.1 per cent to ?1.83 trillion, though sequentially it fell 5.05 per cent from January, when overall revenue stood at ?1.93 trillion. Gross revenue...

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