ICAI’s 2024 Guidance Note: What Non-Corporate Entities & Auditors Need to Know

ICAI's 2024 Guidance Note: What Non-Corporate Entities & Auditors Need to Know

Frequently Asked Questions (FAQs) on Guidance Note on FinancialStatements of Non-Corporate Entities(Issued jointly by the Accounting Standards Board and Auditing and Assurance StandardsBoard of the Institute of Chartered Accountants of India)Question 1: What is the purpose of the Guidance Note on Financial Statements of NonCorporate Entities issued by ICAI (“Guidance Note”)?Response: The Guidance Note issued … Read more

RBI’s Game-Changer: No More Prepayment Charges on Floating Rate Loans from 2026

RBI’s Game-Changer: No More Prepayment Charges on Floating Rate Loans from 2026

The Reserve Bank of India (RBI) has announced a significant policy change set to take effect from January 1, 2026, that will eliminate prepayment charges for many. This move is a game-changer, especially for those with floating rate home loans and other floating rate advances. Who Benefits Most? The primary beneficiaries are floating rate loan … Read more