Daily Newsletter - July 17, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

RBI Draft

Acts & Regulations:

RBI Directions

CA's Referencer:

Income Tax

From the ICAI:

ICAI Announcement

Legal Updates:

Income Tax

SEBI

IRDAI

Customs

Central Excise

News Update:

Indian News:

Foreign or local? Investors at loss over GIFT funds

RBI bars banks, NBFCs from selling acquired stressed assets back to defaulting borrowers, related parties

NCLAT upholds NFRA order, says 'statutory audit is not a ceremonial exercise'

RBI asks banks to sell immovable assets from bad loans within 7 years

EPFO profile photo update can help avoid delays in PF claims, nominations

Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure Scheme

RBI proposes stricter data governance framework for banks, NBFCs

International News:

China now has 7 of world’s 10 biggest banks as Beijing’s financial ambitions grow

Exposure Draft:

RBI Draft:

Draft Guidance on Regulatory Expectations for Data Governance
[Last date for Comments: August 17, 2026] 

Acts & Regulations:

RBI Directions:

Reserve Bank of India (Commercial Banks – Credit Facilities) Directions, 2025 (Updated as on July 15, 2026)

Reserve Bank of India (Small Finance Banks – Credit Facilities) Directions, 2025 (Updated as on July 15, 2026)

Reserve Bank of India (Urban Co-operative Banks – Credit Facilities) Directions, 2025 (Updated as on July 15, 2026)

Reserve Bank of India (All India Financial Institutions – Credit Facilities) Directions, 2025 (Updated as on July 15, 2026)

Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 (Updated as on July 15, 2026)

CA's Referencer:

Income Tax:

Updated Cost of Inflation Index (CII) Chart

From the ICAI:

ICAI Announcement:

Implementation of ICAI (Global Networking) Guidelines, 2025

Legal Updates:

Income Tax:

Cost Inflation Index for FY 2026-27 [Notification No.85]

SEBI:

Master Circular for Merchant Bankers
[Updated as on July 14, 2026]

IRDAI:

Clarifications on implementation of Indian Accounting Standards

Customs:

Appointment of Common Adjudicating Authority in the case of M/s. Inditech Trent Retails India Pvt. Ltd. IEC: 0509065597) – Consolidated Adjudication of Multiple Show Cause Notices arising from SVB Investigation Report No. Cus/SVB-DEL/164/2018-19 dated 27.12.2018 [Notification No.65(NT)]

Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of AIR of duty drawback of Gold jewellery and silver jewellery/articles [Notification No.64(NT)]

Central Excise:

Seeks to amend Notification No. 08/2026-Central Excise dated 26.03.2026 to revise the SAED rate on exports of ATF outside India [Notification No.39]

Seeks to amend Notification No. 06/2026-Central Excise dated 26.03.2026 to revise the SAED rates on exports of petrol and diesel outside India [Notification No.38]