The Reserve Bank of India's (“ RBI ”) Commercial Banks – Governance Directions, 2025 (“Directions”) mark a decisive shift in how Indian banks are expected to approach power, responsibility, and risk. Far from being a mere consolidation of circulars, Directions aim to transform governance from a checklist exercise into an institutional culture rooted in independence, accountability, and an explicit alignment between risk and reward. A New Architecture of Accountability The Dir

Introduction The Supreme Court in the case SEPCO Electric Power Construction Corporation vs GMR Kamalanga Energy Limited, addressed the scope and limits of judicial interference under the Arbitration and Conciliation Act, 1996. The Court reaffirmed the foundational principle of commercial arbitration that arbitral awards must strictly remain within the parameters of the agreement between parties. The judgment is a significant contribution to the evolving jurisprudence under t

We are delighted to share this week's AKP Corporate & Compliance Weekly Digest. Please feel free to write to us with your feedback at info@akandpartners.in. 1.             Labour Law   1.1.        MoLE issues FAQs to clarify flexible, worker-centric compliance under the Social Security Rules A frequently asked questions (FAQs) note on the Social Security Rules clarifies that processes are designed to be digital-first for transparency and ease of access, but physical submissi

Overview The Reserve Bank of India (Universal Banks - Licensing) Guidelines, 2025 (“ Guidelines ”) represent a significant update to India's banking licensing system regime. These Guidelines are a revised consolidation of the guidelines issued on February 22, 2013, for Licensing of New Banks in the Private Sector and guidelines for ‘On Tap' Licensing of Universal Banks in the Private Sector, 2016. What's new this time is a most transparent process for private bank licences an

The enforceability of term sheets in Indian commercial transactions has emerged as a nuanced legal question with far-reaching industry ramifications. The recent judicial pronouncement in Oravel Stays Private Limited (OYO) v. Zostel Hospitality Private Limited by the Delhi High Court has provided renewed clarity concerning the boundaries of contractual intent at the pre-agreement stage. So, when does a “non-binding” term sheet metamorphose into a binding contract? More importa

Introduction On September 19, 2025, the International Financial Services Centres Authority (“ IFSCA ”) issued the Draft FinTech Sandbox Framework, ( “Draft Framework ”), a strategic initiative designed to empower both domestic and international entities to test disruptive financial technologies in a controlled, live environment. The Draft Framework seeks to promote the growth of fintech innovations at International Financial Services Centres (“ IFSCs ”) from Indian and foreig

Introduction   The International Financial Services Centres Authority (“ IFSCA ”) has notified the IFSCA (Fund Management) Regulations, 2025 (“ FM Regulations, 2025 ”), introducing a refreshed regulatory framework for fund management activities within IFSCs. These new regulations repeal and replace the earlier IFSCA (Fund Management) Regulations, 2022 (“ FM Regulations, 2022 ”), aiming to enhance operational clarity, investor protection, and alignment with international stand

We are delighted to share this week's AKP Corporate & Compliance Weekly Digest. Please feel free to write to us with your feedback at info@akandpartners.in. 1.             Labour Law   1.1.         Centre notifies draft Industrial Relations (Central) Rules, 2025 for consultation Ministry of Labour and Employment [“ MoLE ”] issued the draft Industrial Relations (Central) Rules, 2025 under the Industrial Relations Code, 2020 and the General Clauses Act, 1897, proposing to repl

We are delighted to share this week's AKP Banking & Finance Weekly Digest. Please feel free to write to us with your feedback at info@akandpartners.in. 1. Regulatory Updates   1.1.  India   Reserve Bank of India (RBI) 1.1.1.    RBI releases Report on Trend and Progress of Banking in India 2024–25 Reserve Bank of India (“ RBI ”) released the Report on Trend and Progress of Banking in India 2024–25 covering performance of commercial banks, co-operative banks and non-banking fin