ICAI Reviews CA Curriculum to Integrate AI, ESG, Forensic Auditing; Launches AURA 2.0 and International Programme

CBI Registers ₹1,816.22 Cr EPFO Investment Fraud Case Against Reliance Capital, Anil Ambani

The CBI has registered a major fraud case involving EPFO funds invested in Reliance Capital NCDs. This highlights issues of corporate governance, public sector investment safety, and regulatory oversight. For exams, focus on EPFO's investment norms, CBI's jurisdiction, and criminal provisions invoked.

ICAI Issues SSA 5000 for Sustainability Assurance, Effective April 1, 2027

ICAI has issued SSA 5000, a new standard for sustainability assurance effective April 1, 2027, aimed at bringing audit-like discipline to ESG disclosures and combating greenwashing. This is a critical regulatory shift for listed companies and the growing sustainability consulting market.

SEBI Revamps SLB Scheme, Launches Setu Portal, Pilots Bond Tokenisation on Blockchain

SEBI is modernizing the Securities Lending and Borrowing (SLB) scheme to improve price discovery and link cash and derivatives markets. It also launches a single online portal (Setu) for intermediaries and a pilot project for tokenising corporate bonds using blockchain. These reforms are crucial for capital market efficiency and are highly exam-relevant for UPSC, Banking, and SSC.

FAST-DS 2026: Income Tax Dept Nudges Taxpayers to Disclose Foreign Assets by Dec 31

The Income Tax Department has begun emailing taxpayers who may hold undisclosed foreign assets, urging them to use the FAST-DS 2026 disclosure window (open till Dec 31, 2026). This one-time compliance scheme is crucial for small taxpayers like students, NRIs, and tech employees holding ESOPs or overseas accounts, with penalties up to ₹1 lakh or 30% tax plus additional tax.

Govt Proposes Gold Monetisation via Jewellers: 20,000 Tonne Idle Gold, Demat Deposits, Interest Income

The government is planning a new gold monetisation scheme where jewellers, not banks, will collect physical gold deposits from households, issue demat receipts, and pay interest. This aims to unlock over 20,000 tonnes of idle gold, improve India's trade balance, and reduce import dependence — a key reform for economic stability and current account management.

MoSPI Considers Diary-Based HCES for High-Income Households to Tackle 9.8% Urban Non-Response Rate

To counter rising non-response from affluent households in gated societies, MoSPI is piloting a 'diary-based' self-reporting method for the next Household Consumption Expenditure Survey (HCES) in 2027-28. This shift is critical because the HCES data directly impacts CPI basket weights, inflation targeting by RBI, and policy making, but raises concerns about data comparability due to differential recall errors between survey methods.

Govt Notifies Payment Act Changes: No Charges on UPI/RuPay Transactions Up to ₹2,000

The government has amended the Payment and Settlement Act, 2007, to prohibit banks from imposing any charges on UPI and RuPay debit card transactions up to ₹2,000. This move aims to protect small digital payments from fees while leaving the door open for potential charges on larger transfers.

ED Identifies Recurring IBC Malpractices Including Section 29A Circumvention and Disproportionate Haircuts

The Enforcement Directorate (ED) has flagged misuse of the Insolvency and Bankruptcy Code (IBC) by defaulting promoters who use collusive resolution processes with disproportionately large haircuts to regain control of their companies. This comes amid growing concerns over low creditor recoveries (average 29% over five years) and legal tensions between IBC's moratorium/immunity provisions and the Prevention of Money Laundering Act (PMLA). Students must understand the conflict between resolution and recovery objectives, key sections (14, 29A, 32A), and the ED's intervention strategy.