RBI Updates
Special Rupee Vostro Accounts (SRVAs)
The Reserve Bank of India vide circular No.19 dated 17th July 2026 consolidates and rationalizes previous instructions on international trade settlement in Indian Rupees (INR) through Special Rupee Vostro Accounts (SRVAs).
Key points:
- AD banks may open SRVAs for overseas branches or foreign banks.
- SRVAs can be used for export/import settlement in INR and other permissible FEMA transactions.
- SRVAs may be funded through inward remittances or transfers from eligible repatriable INR accounts.
- Balances in SRVAs may be invested in debt instruments as per the applicable RBI directions.
- Existing documentation, reporting and compliance requirements under FEMA continue to apply.
- The circular supersedes the earlier five circulars and takes effect immediately.
Click here to access the circular
MCA Updates
Extension of Companies Compliance Facilitation Scheme, 2026 (CCFS- 2026) up to 31st August 2026- reg
The Ministry of Corporate Affairs has extended the validity of the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026), which provides companies an opportunity to complete pending statutory filings.
The Scheme, originally valid up to 15 July 2026, has been extended to 31 August 2026 in view of capacity enhancement/restoration activities at the data center following the fire incident on 5 June 2026.
The extension has been issued with the approval of the competent authority.
Click here to access the circular
SEBI Updates
Operationalization of freezing of holdings of promoter and promoter group including their associates (promoter holdings) at the ISIN level under Regulation 24(i)(ea) of the SEBI (Buy-back of Securities) Regulations, 2018
SEBI, vide notification dated July 1, 2026, amended the SEBI (Buy-back of Securities) Regulations, 2018 by introducing Regulation 24(i)(ea). The amendment requires the holdings of the promoter and promoter group, including their associates (“promoter holdings”), to be frozen at the ISIN level from the date of approval of the buy-back by the Board of Directors or shareholders, as applicable, until closure of the buy-back offer.
The freeze will, however, permit:
- Tendering of shares/securities in a buy-back conducted through the tender offer route; and
- Invocation of encumbrances created before commencement of the buy-back period.
Operational Framework
To implement the amendment, the Depositories are required to establish an operational framework and undertake necessary system enhancements, including procedures for:
- Issuance of freeze instructions by listed companies in respect of promoter holdings.
- Implementation of the ISIN-level freeze on promoter holdings.
- Facilitating tendering of promoter holdings in tender-offer buy-backs.
- Permitting invocation or release of pre-existing encumbrances, with the freeze continuing to apply to the shares/securities so invoked or released.
- Addressing any other operational or system requirements necessary for effective implementation.
The Depositories are required to have the operational framework and requisite system enhancements in place by August 1, 2026.
Compliance Responsibility and Effective Date
Listed companies, recognized stock exchanges, Depositories, Merchant Bankers, and Registrars to an Issue and Share Transfer Agents (RTAs) are required to comply with the SEBI Circular and the operational framework issued by the Depositories.
The Circular is effective immediately from July 1, 2026, the date of its issuance, and has been issued under SEBI’s statutory powers to protect investors and regulate and develop the securities market.
Click here to access the circular
Ease of Doing Investment and Ease of Doing Business – Simplification and standardization of the framework for transmission of securities
SEBI has revised the framework for transmission of securities to simplify and standardize the process, enhance efficiency, and improve investor convenience.
Key changes include:
- Introduction of a harmonized, standardized and risk-based transmission process.
- Introduction of Quick Transmission Processing (QTP) for low-value claims and revision of thresholds under the simplified documentation process:
- Physical securities: QTP up to ₹2 lakh; simplified documentation up to ₹10 lakh.
- Dematerialized securities: QTP up to ₹4 lakh; simplified documentation up to ₹30 lakh.
- Simplification and standardization of documentation, including:
- Removal of the mandatory requirement for Probate of Will, subject to applicable succession laws.
- Replacement of separate Affidavit and NOC with a combined Affidavit-cum-NOC.
- Acceptance of QR-coded death certificates as valid documents.
- Additional verification mechanisms for foreign-issued death certificates, including verification through overseas branches/correspondent banks of Indian banks.
The revised framework, including prescribed model forms, will become effective 30 days from the date of issuance of the Circular. Processing entities are encouraged to apply the revised framework to requests received before the effective date wherever feasible, without requiring investors to resubmit documents already provided.
For six months, processing entities must submit monthly reports to SEBI covering pending, processed, approved, rejected, and additional-document cases under the QTP, simplified, and above-threshold categories.
