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September 2026
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CustomsEMI Scheme documents cut from ten to three from 15 September 2026; CBIC marks 10 years of AEO
10 → 3 documentsReliefCircular 39/2026-Customs dated 3 September 2026 rationalises the uploads under the Eligible Manufacturer Importer Scheme. CBIC also listed AEO process improvements under consideration.
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Legal & DisputesCCPA imposes ₹10 lakh penalty on Rapido for pre-ride “pay more” prompts held to be dark patterns
₹10 lakh penalty on RapidoThe Central Consumer Protection Authority has imposed a ₹10 lakh penalty on Roppen Transportation Services Private Limited, which operates Rapido, for misleading advertisements, unfair trade practices, unfair contract and dark patterns. Prompts asking riders to add to the fare before a ride was confirmed were held to be “confirm shaming”, and the colour-coded price slider “interface interference”.
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FEMA & RBIUPI stays free for person-to-person transfers and merchant payments up to ₹2,000; 0.4% MDR on specified merchant payments above ₹2,000, says Finance Ministry
UPI: 0.4% MDR above ₹2,000ClarifiedThe Ministry of Finance says the new UPI framework under the Payment and Settlement Systems Act, 2007 does not touch person-to-person transfers. Merchant payments up to ₹2,000 and small merchants receiving up to ₹1 lakh a month stay at zero MDR. A 0.4% MDR applies to merchant payments above ₹2,000, capped at ₹300 for ₹75,000 and above; customers are not to be charged.
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InsolvencyIBBI proposes four CIRP-style safeguards for personal guarantor insolvency — related parties to get nil vote, mandatory valuation; comments closed on 3 October 2026
Proposal — comments closed 3 OctComments invitedAn IBBI discussion paper proposes four amendments to the regulations for insolvency resolution of personal guarantors to corporate debtors: nil voting share for related parties of the guarantor, examination and reporting of avoidance transactions, valuation of the guarantor’s assets by a registered valuer, and recording of creditors’ reasons on the repayment plan. These are proposals only. The last date for comments was 3 October 2026, which has passed.
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FEMA & RBIBankers’ Books Evidence Act, 2026 in force from 1 October 2026; replaces the 1891 law
1 October 2026Rule changeThe new Act recognises bank records kept in electronic, digital and cloud-based form, standardises their certification, and requires a “special cause” in writing to summon bank officials.
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Legal & DisputesE-Commerce Rules amended: sponsored listings to be disclosed, “prior price” defined for discounts, yearly dark-pattern self-audit — in force from 1 January 2027
In force from 1 January 2027Rule changeThe Department of Consumer Affairs has amended the Consumer Protection (E-Commerce) Rules, 2020 through the Consumer Protection (E-Commerce) (Amendment) Rules, 2026. Every e-commerce entity must join the National Consumer Helpline convergence process. New duties cover complaints, search results, sponsored listings, price reductions, dark patterns and seller disclosures. The Rules come into force on 1 January 2027.
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SEBISEBI launches “Demat 2.0” pilot for tokenised corporate bonds; three issuers raise ₹1,025 crore, funds leg settled in RBI’s wholesale e₹
Demat 2.0: ₹1,025 crore raisedNew facilitySEBI has announced the launch of “Demat 2.0”, a pilot in which corporate bonds are created as digital tokens on a distributed ledger owned by the depositories and settled against RBI’s wholesale CBDC (e₹). REC, L&T and IIFL have issued tokenised bonds aggregating ₹1,025 crore. Credit rating, debenture trustee, listing and disclosure requirements continue to apply in full.
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CustomsCustoms to accept one-year EPR certificates of plastic-packaging importers as one-time registration
one-time registrationReliefImporters were stuck at clearance because their EPR certificates showed a one-year validity. CBIC has told officers to treat those certificates as one-time registrations that need no renewal, and to clear the consignments.
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LabourPF investment pattern amended: rupee bonds of IBRD, IFC, ADB and New Development Bank with at least three years’ outstanding maturity — S.O. 5009(E)
Rupee bonds: IBRD, IFC, ADB, NDBRule changeThe Labour Ministry has amended the investment pattern notified under section 17(3)(a) of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. In the debt category, clause (c) of Category (ii) now reads: rupee bonds with an outstanding maturity of at least three years issued by the International Bank for Reconstruction and Development, International Finance Corporation, Asian Development Bank and New Development Bank.
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FEMA & RBIFIU-IND issues PMLA notices to 15 crypto platforms and seeks takedown of their apps and URLs
15 noticesThe notices under section 13 of the PMLA are for operating without registering as reporting entities. The registration duty is activity-based and does not depend on physical presence in India.
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FEMA & RBIElectronic trading platforms in the IFSC now need IFSCA registration: Electronic Trading Platforms Regulations, 2026 notified, net worth floor USD 200,000
ETP Operator: USD 200,000 net worthRule changeIFSCA has notified the IFSCA (Electronic Trading Platforms) Regulations, 2026. No person may operate an electronic trading platform in the IFSC without registration as an Electronic Trading Platform Operator. An operator must keep a net worth of at least USD 200,000 at all times, run real-time surveillance, publish its operating policy and keep platform data for at least eight years.
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FEMA & RBIRBI withdraws seven old FEMA circulars — five on ECB, one on tax-free bonds, one on MTSS sub-agents: A.P. (DIR Series) Circular No. 21
7 FEMA circulars withdrawnRBI is reviewing every circular issued under FEMA since 1 June 2000. By A.P. (DIR Series) Circular No. 21 dated 8 September 2026 it has withdrawn seven circulars issued between 2012 and 2015 that had ceased to be operative: five on External Commercial Borrowings, one on non-resident investment in tax-free bonds and one on the Money Transfer Service Scheme.
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SEBIFPIs: no investor group details for those investing only in Government Securities, and a digitally signed Power of Attorney to custodians is now accepted
No investor group detailsReliefTwo SEBI circulars ease compliance for Foreign Portfolio Investors. From 7 September 2026, FPIs investing only in Government Securities — by any route — need not furnish investor group details. From 20 August 2026, a Power of Attorney given by an FPI to its custodian may be executed with a digital signature under the Information Technology Act, 2000, without notarisation, apostille or consularisation.
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Foreign TradeDGFT proposes to suspend 544 Standard Input Output Norms unused for three years; comments invited within 15 days: Trade Notice No. 26/2026-27
544 SIONs may be suspendedComments invitedAfter reviewing utilisation of Standard Input Output Norms, DGFT has listed 544 SIONs that were not used under the Advance Authorisation or DFIA schemes in the last three financial years and proposes to suspend them. Trade and industry may send comments, with reasons for retaining any SION, within 15 days of the trade notice dated 7 September 2026.
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CustomsCustoms opens NAC Portal: classification and valuation decisions, CAAR rulings and audit objections in one searchable place
naccustoms.gov.inNew facilityCircular 41/2026-Customs announces the National Assessment Centre Portal at naccustoms.gov.in, open to importers and Customs Brokers, with keyword search and downloadable documents.
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CustomsImporting cosmetics, drugs or medical devices: Customs to check CDSCO documents before out-of-charge — upload them on e-SANCHIT
7 checklistsAction neededCircular 40/2026-Customs circulates seven CDSCO checklists of licences, permissions and registration certificates that the Customs officer is to verify before releasing such imports, while their integration under SWIFT 2.0 is in process.
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Legal & DisputesCCPA imposes ₹10 lakh penalty on Dial4Trade for listing ammonium nitrate without licence checks; rejects B2B and safe-harbour defences
₹10 lakh penalty on Dial4TradeThe Central Consumer Protection Authority has imposed a ₹10 lakh penalty on Dial4Trade Technologies Private Limited for facilitating the online listing, advertising and sale of ammonium nitrate without the mandatory safeguards, and directed it to stop listing any substance classified as an explosive under the Explosives Act, 1884. Seven other platforms are under examination.
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SEBIPFRDA proposes overhaul of Point of Presence Regulations: physical and digital modes, LLPs, trusts and societies eligible, annual fee of 1% — exposure draft, comments closed 2 October
Draft: PoP fee ₹25,000, digital nilComments invitedPFRDA’s exposure draft of 2 September 2026 proposes to amend the Point of Presence Regulations, 2018: two modes of distribution (physical and digital), more legal forms eligible for digital-mode registration, application fee of ₹25,000 for physical mode and nil for digital, an annual fee of 1% of charges earned in place of five-yearly renewal, and “NPS Mitra” in place of “pension agent”. These are proposals; the comment period ended on 2 October 2026.
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FEMA & RBIUrban Co-operative Banks can now hold equity shares of Indian Digital Payment Intelligence Corporation (IDPIC) to become members: RBI amends investment Directions
UCBs may hold IDPIC sharesRule changeRBI has amended its investment portfolio Directions for Urban Co-operative Banks so that they can acquire membership of the Indian Digital Payment Intelligence Corporation (IDPIC), described as the nation’s central digital payment fraud intelligence platform. Paragraphs 101(5) and 107(1) of the 2025 Directions now mention equity shares of IDPIC. The change took effect on 2 September 2026.
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LabourESIC issues SOP for compounding first-time offences under section 138 of the Code on Social Security: pay within 15 days, composition certificate in 10 days
Pay in 15 days, certificate in 10New facilityESIC Headquarters has circulated a Standard Operating Procedure for compounding of offences under section 138 of the Code on Social Security, 2020 read with rule 54 of the Social Security (Central) Rules, 2026. An electronic compounding notice goes out in Form-XXIV; the employer pays and applies within 15 days; the composition certificate follows within 10 days. The amount is half the maximum fine for fine-only offences and three-fourths where imprisonment up to one year is also provided.
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