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Business Compliance

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Business Compliance

238 articles
Delayed NEFT Credits and Returns: Batch-Settlement Evidence and Repo-Linked Compensation

Delayed NEFT Credits and Returns: Batch-Settlement Evidence and Repo-Linked Compensation

Track NEFT from batch settlement to actual credit or refund. RBI’s guidance specifies a two-hour credit/return expectation and repo-plus-two-percentage-point delay compensation, payable without waiting for a claim; timestamps and the applicable rate must support the working.

By Team assureOffice
Fraudulent EBT Compensation from January 2027: Gross-Loss Eligibility, the 85% Formula and Later Rec

Fraudulent EBT Compensation from January 2027: Gross-Loss Eligibility, the 85% Formula and Later Recoveries

RBI’s issued June 2026 amendment applies to transactions on or after 1 January 2027. Its temporary small-value mechanism tests gross loss up to ₹50,000, then compensates eligible victims at 85% of net loss subject to ₹25,000, with lifetime and reporting conditions.

By Team assureOffice
RBI failed-payment reversal and compensation controls

Failed UPI and IMPS Payments: Calendar-Day Reversal Clocks and ₹100 Daily Compensation

RBI’s failed-transaction framework distinguishes UPI/IMPS transfers from UPI merchant-confirmation failures. Track the transaction date, applicable reversal clock, actual reversal and compensation separately; a merchant refund or wrong-recipient payment is not automatically the same case.

By Team assureOffice
Ship-manning and crew-management foreign-currency accounts

FEMA Crew-Management Accounts: Principal-Only Credits, No EEFC and Agreement Validity

RBI paragraph 3.6 gives ship-manning and crew-management agencies a specific foreign-currency account framework. Principal remittances, ordinary ship/crew expenses, the prohibition on secured credit and EEFC treatment, and the agreement’s validity need separate transaction controls.

By Team assureOffice