RBI Imposes ₹80 Thousand Penalty On Muthoot Housing Finance For Fair Practice Code Violation

The Reserve Bank of India has imposed a monetary penalty of Rs. 80,000 on Muthoot Housing Finance Company Limited for non-compliance with RBI directions on the Fair Practice Code.The penalty was imposed by an order dated April 21, 2026. The action follows a statutory inspection conducted by the National Housing Bank with reference to the company's financial position as of March 31, 2025, which revealed regulatory lapses.RBI found that the company had failed to disclose the approach for gradation...

RBI Imposes ₹41.80 Lakh Penalty On Bandhan Bank For KYC, Regulatory Lapses

The Reserve Bank of India has imposed a monetary penalty of Rs.41.80 lakh on Bandhan Bank Limited for contravention of provisions of the Banking Regulation Act, 1949 and non-compliance with certain directions on Know Your Customer. The penalty was imposed by an order dated April 21, 2026. The action follows the Statutory Inspection for Supervisory Evaluation conducted with reference to the bank's financial position as on March 31, 2025, which revealed supervisory findings of non-compliance. ...

RBI Cancels Paytm Payments Bank Licence, Cites Harm To Depositors' Interests

The Reserve Bank of India (RBI) on Friday cancelled the banking licence of Paytm Payments Bank Limited, citing serious regulatory breaches and conduct that it said was harmful to depositors' interests. With the cancellation taking effect from the close of business on April 24, 2026, the bank is barred from undertaking any banking activity as defined under Section 5(b) of the Banking Regulation Act, 1949, or any additional business under Section 6, with immediate effect. The regulator said it...

Delhi Court Dismisses Rado, Swatch Group Trademark Suit Against Local Trader

A commercial court in Saket, New Delhi, has dismissed a trademark infringement suit filed by Rado along with other Swatch Group companies, finding that they failed to establish infringement or any likelihood of confusion even on a preponderance of probabilities, in the absence of cogent evidence. District Judge Lokesh Kumar Sharma said the case was built on unsubstantiated claims, remarking that it amounted to “nothing beyond a mere lip service done by PW1 in the air.” Rado Uhren AG, Tissot...

Banks Must Halt Online Money Game Transactions On Regulator's Direction Under Online Gaming Rules, 2026

Banks and payment intermediaries will be required to suspend or block transactions linked to online money games when directed by the regulator, under the Online Gaming Rules, 2026.The Rules were notified by the centre on Wednesday.Rule 19(2) says that once the Online Gaming Authority issues directions in respect of an online money game, banks, financial institutions, and entities facilitating transactions must suspend, restrict, or close such transactions and stop authorising funds tied to those...

Road Ministry Pushes For Pre-Conciliation In Highway Contractual Disputes Under Vivad Se Vishwas-III Scheme

The Ministry of Road Transport and Highways has directed agencies executing highway projects to step up the use of pre-conciliation under the Vivad se Vishwas III scheme and ensure strict adherence to arbitration procedures, following a review that flagged rising interest liabilities. An office memorandum issued on April 9, 2026, records that the Ministry examined pending arbitration and court cases in March and stressed the need for compliance with its Arbitration Standard Operating Procedure...

ICAI Denies Reports of New Authority for CA Exams, Calls Claims “Factually Incorrect”

The Institute of Chartered Accountants of India (ICAI) has pushed back against media and social media reports claiming that the Government is planning to set up a separate authority to conduct CA examinations along with other professional tests. The Institute said such reports have led to confusion and panic among students preparing for the upcoming May examinations. In a recent press note, ICAI clarified that the claims are “factually incorrect” and not supported by any official confirmation...

Former Additional Controller General Of Defence Accounts K.V.R. Murty Takes Charge As SEBI Whole-Time Member

Former Additional Controller General of Defence Accounts K.V.R. Murty has taken charge as Whole-Time Member of the Securities and Exchange Board of India (SEBI) in Mumbai. Murty brings over three decades of experience across national security and corporate affiars. Over the course of his career, he has held key financial advisory roles, including Principal Integrated Financial Adviser to the Indian Air Force and Financial Adviser to the Defence Research and Development Organization (DRDO). ...

MCA Draft Rules for Company Incorporation Propose Merging Multiple Forms Into Two To Ease Compliance Burden

Companies may soon be able to file just two forms instead of several specified incorporation-related filings, with the Ministry of Corporate Affairs proposing a significant overhaul to make compliance simpler. The Ministry has put out the draft Companies (Incorporation) Amendment Rules, 2026, for public consultation, seeking feedback till May 9. The move follows a broader review of suggestions from stakeholders and is aimed at making incorporation processes smoother and less burdensome. A key...

RBI Cancels 54 NBFC Licenses, 16 Others Exit Business Voluntarily

The Reserve Bank of India (RBI) has cancelled the licences of 54 NBFCs, barring them from carrying out financial business. The central bank said it acted under its powers under Section 45-IA(6) of the RBI Act, 1934, which allows it to cancel or accept the surrender of licences of NBFCs when they do not meet regulatory requirements. A large number of these companies whose licenses were cancelled were based in Delhi, with others located in Haryana, West Bengal, and Telangana. Some of the...

CAT Delhi Dismisses NCLT Technical Member's Plea Against Appointment Of B.V. B. Das As Acting President

The Central Administrative Tribunal (CAT) at Delhi on Wednesday dismissed a plea by NCLT Technical Member Kaushalendra Kumar Singh challenging the Center's notification appointing Bachu Venkat Balram Das as the acting President of the tribunal, holding that it lacked jurisdiction to entertain the dispute. A bench of Judicial Member R.N. Singh and Administrative Member B. Anand observed, "The post of Technical Member and/or Judicial Member is neither a Civil Post nor the post belongs to All...

LiveLaw Invites Applications for Editorial Roles at LIVELAWBIZ

LiveLawBiz, the corporate and business law vertical of LiveLaw, is expanding its editorial team and inviting applications from qualified and motivated candidates for the following positions: 1. Executive EditorExperience Required: Minimum 4 years or more in corporate legal reporting/EditingEligibility Criteria: Law degree (LL.B. or equivalent) is mandatoryStrong background in reporting on corporate law, business regulations, M&A, compliance, and financial legal developments Proven...