Case Details: Emerson Process Management (India) Pvt Ltd. vs. Union of India [2026] 185 taxmann.com 141 (Gujarat)

Judiciary and Counsel Details

• A.S. Supehia & Pranav Trivedi, JJ.
• Uchit N Sheth for the Petitioner.
• Shashvata U Shukla, Senior Standing Counsel for the Respondent.

Facts of the Case

The petitioner, a registered assessee engaged in the manufacture of safety valves and components, was registered under GST in multiple States and underwent a court-approved amalgamation under the orders of the National Company Law Tribunal (NCLT). Pursuant to the said amalgamation, the petitioner sought transfer of unutilised input tax credit by filing statutory Form GST ITC-02 as prescribed under the CGST Rules. However, while attempting online filing, the GST portal generated a restriction message stating that the transferee and transferor must be registered in the same State or Union Territory, and the department also endorsed a similar objection on the said form. The petitioner contended that such a restriction was not contemplated under the statute and that, in the absence of an enabling online mechanism, the statutory entitlement could not be defeated, thereby necessitating acceptance of manual filing of Form ITC-02. The matter was accordingly placed before the High Court.

High Court Held

The High Court held that transfer of input tax credit upon amalgamation is expressly governed by Section 18(3) of the CGST Act, read with Rule 41 of the CGST Rules, and neither provision imposes any restriction based on the inter-State nature of amalgamation. It was observed that the portal-based restriction and the departmental endorsement, which introduced a condition not found in the statute, were without legal authority and could not override statutory provisions. The Court further held that the absence of an online facility cannot defeat a substantive right of credit transfer arising upon approved amalgamation. Accordingly, it was concluded that the petitioner was entitled to a transfer of credit, and the authorities were directed to accept and process Form ITC-02 manually in accordance with the law.

List of Cases Reviewed

• Umicore Autocat India (P.) Ltd. v. Union of India [2025] 176 taxmann.com 616 (Bombay)/[2025] 101 GSTL 127 (Bombay) (para 6.5), followed

List of Cases Referred to

• Umicore Autocat India (P.) Ltd. v. Union of India [2025] 176 taxmann.com 616 (Bombay)/[2025] 101 GSTL 127 (Bombay) (para 2).

The post Inter-State ITC Transfer on Amalgamation Allowed – Portal Restriction Invalid | HC appeared first on Taxmann Blog.

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1. Query

Gamma Limited (hereinafter referred to as ‘the Company’), is a public sector undertaking incorporated with the primary objective of executing railway infrastructure projects. The Company has been established as a joint initiative of the Ministry of Railways (MoR) and a State Government, with the Ministry of Railways being the majority stakeholder. The Company functions as a project implementation agency for railway infrastructure development.

As per the governing arrangements between the Company and the Ministry of Railways, the Company undertakes the execution of infrastructure projects on behalf of the Railways. In such cases, the assets created under these projects are owned by the Railways, and the Company merely acts as an executing agency. Accordingly, expenditure incurred on such projects is not recognised as assets in the books of the Company.

Separately, pursuant to specific policy guidelines issued by the Ministry of Railways, the Company constructed residential quarters on land owned by the Railways using its own funds. As per these guidelines, the Company is required to bear the entire cost of construction, while the ownership of both land and constructed structures continues to vest with the Railways.

In consideration of such construction, 50% of the residential units are licensed to the Company for a period of 30 years at a nominal lease rent, while the remaining units are retained by the Railways for their own use. The licensed units are primarily used by the Company for accommodating its employees. The Company also has limited rights regarding allocation and usage of such units, subject to overall regulatory control of the Railways.

The Company has capitalised the entire construction cost incurred on these residential units as property, plant and equipment under leasehold premises and is amortising the same over the lease period, on the basis that the expenditure enables it to derive economic benefits through usage rights over the licensed premises.

In view of the above, the issue for consideration is whether the accounting treatment adopted by the Company, i.e., capitalisation of construction cost as property, plant and equipment and its amortisation over the lease term, is in compliance with Ind AS, and if not, what would be the appropriate accounting treatment and presentation.

2. Relevant Provisions

Ind AS 116 – Leases

Para 9 of Ind AS 116

At inception of a contract, an entity shall assess whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Para B9 of Ind AS 116

To assess whether a contract conveys the right to control the use of an identified asset for a period of time, an entity shall assess whether, throughout the period of use, the customer has both of the following:

(a) the right to obtain substantially all of the economic benefits from use of the identified asset; and

(b) the right to direct the use of the identified asset

Para B13 of Ind AS 116

An asset is typically identified by being explicitly specified in a contract. However, an asset can also be identified by being implicitly specified at the time that the asset is made available for use by the customer.

Para 22 of Ind AS 116

At the commencement date, a lessee shall recognise a right-of-use asset and a lease liability.

3. Analysis

In the present case, although the Company has incurred the construction expenditure, the ownership of both land and structure remains with the Ministry of Railways at all times. Further, the Company does not obtain legal title or unfettered control over the constructed quarters. The rights available to the Company are limited to usage for a specified period and are subject to policy restrictions imposed by the Railways. Accordingly, the essential condition of control over the asset is not satisfied. Therefore, the construction cost cannot be recognised as property, plant and equipment.

Further, the substance of the arrangement between the Company and the Railways needs to be evaluated. The Company incurs construction costs and, in return, obtains the right to use a specified portion of the constructed residential units for a defined period at a nominal lease rent. This indicates that the consideration paid by the Company is not merely for construction, but effectively for obtaining usage rights over the premises.

In terms of Ind AS 116, a contract contains a lease if it conveys the right to control the use of an identified asset. In the present case, specific residential units are identifiable, and the Company has the right to use such units for a period of 30 years.

Further, the Company has the right to obtain substantially all economic benefits arising from the use of such units within the defined scope, such as use for accommodation of employees and officials. Additionally, the Company has the ability to direct the use of such units, including decisions regarding allocation and utilisation, albeit within the framework of Railway policies. These restrictions are in the nature of protective rights and do not negate the Company’s control over the use of the asset.

Accordingly, the arrangement satisfies the conditions of a lease under Ind AS 116, and the Company should account for the same as a lessee.

With regard to the construction costs incurred, it is necessary to determine their nature. In substance, such costs represent consideration paid by the Company for obtaining the right to use the underlying asset. Ind AS 116 requires that payments made for acquiring the right to use an asset, irrespective of timing, be included in the measurement of the right-of-use asset.

At the commencement date, the Company should recognise a right-of-use asset and a corresponding lease liability. The cost of the right-of-use asset should include the construction cost incurred (or the fair value of consideration, as the case may be), along with other components specified under Ind AS 116.

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Editorial Team – [2026] 185 taxmann.com 428 (Article)

Global IDT Insights provides a weekly snippet of tax news specifically related to Indirect Taxes from around the globe.

1. Italian Revenue Agency Clarifies Reduced VAT Applicability to Medical Dressings and Food Supplements

Italy has clarified that the sale of products used as primary dressings for the treatment of acute and chronic wounds, including those infected or at risk of infection, is subject to a reduced VAT rate of 10 percent. The same reduced rate is also applicable to food supplements that meet specified requirements under the VAT framework.

The clarification has been issued by the Italian Revenue Agency (IRA) based on the technical opinion of the Customs and Monopolies Agency (Agenzia delle Dogane e dei Monopoli), which examined the products under two separate inquiries. The applicability of the reduced VAT rate has been determined on the basis of the customs classification assigned by the Customs authority.

Reduced VAT applicability to medical dressings classified under heading 3004

(a) Request by company engaged in medical devices sector for classification and rate applicability – The clarification arises from a request made by a company operating in the medical devices sector, engaged in the development, preparation, packaging, distribution, and wholesale and retail sale of products intended for the treatment of skin lesions.

(b) Product characterised as therapeutic medical device without pharmacological action – The product in question is described as a spreadable preparation used as a primary dressing for the treatment of acute and chronic wounds, including those infected or at risk of infection. The company sought clarity in the context of classification of such products.

The product is identified as a medical device intended for human use with a clearly therapeutic purpose, as it helps treat or alleviate skin lesions. However, it does not qualify as a medicinal product in the strict sense, as it does not contain active pharmacological ingredients or vital biological substances. Further, it does not act through pharmacological, immunological, or metabolic mechanisms.

(c) Conclusion based on Customs classification under CN code 3004 90 00 enabling reduced VAT rate – The clarification confirms that an assessment conducted by the Customs authority, including laboratory analysis, is essential for determining eligibility. The product has been classified under CN code 3004 90 00, which refers to medicinal products consisting of mixed preparations intended for therapeutic or prophylactic use and marketed in doses or for retail sale.

The substances contained in the preparation are considered to exert beneficial effects, justifying classification as ‘other medicinal preparations’ under heading 3004, and meeting the requirements of Supplementary Note 1 to Chapter 30 of the Combined Nomenclature. Accordingly, based on this classification, the IRA concludes that the product qualifies for the reduced VAT rate of 10 percent.

Reduced VAT applicability to food supplements classified under headings 2106 and 1806

(a) Request by company engaged in research, production and distribution of food supplements – The clarification arises from a request made by an Italian company engaged in the research, production, and distribution of innovative medical devices.

(b) Products comprising food supplements and nutritional preparations in various forms – The products in question comprise a series of food supplements and preparations intended for sports or functional nutrition, presented in various forms such as powders, capsules, tablets, and bars.

(c) Classification under heading 2106 enabling reduced VAT under item 80 – In respect of products classified under heading 2106, the Explanatory Notes to the Harmonized System provide that supplements based on vitamins, amino acids, minerals, or extracts, packaged as supplements to normal nutrition and lacking sufficient active ingredients to confer therapeutic purposes, are to be classified under code 2106.

Additional Note 5 to Chapter 21 further includes preparations presented in measured doses intended for use as food supplements, provided they cannot be classified under more specific headings. It is also noted that none of the products fall under syrup subheadings, which are excluded unless governed by specific legislation. Accordingly, such products fall within item 80 of Table A, Part III, of the VAT decree and qualify for the reduced VAT rate of 10 percent.

(d) Classification under heading 1806 enabling reduced VAT under item 64 – For products classified under heading 1806, relating to chocolate and food preparations containing cocoa, the classification arises due to the presence of cocoa, which precludes classification under heading 2106. The identified subheadings include preparations such as beverage mixes containing cocoa and bars with added cereals or fruit. Under item 64 of Table A, Part III, such products are eligible for the reduced VAT rate of 10 percent, provided they are not packaged in premium forms.

(e) Conclusion based on customs classification enabling reduced VAT rate – Based on the technical classifications provided by the Customs and Monopolies Agency, the IRA concludes that products classified under heading 2106 as well as those under heading 1806 meet the conditions specified under Table A, Part III, of the VAT decree. Accordingly, both categories of products are eligible for the reduced VAT rate of 10 percent.

Source – Clarification by IRA

Click Here To Read The Full Article

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Mukesh Kabra – [2026] 185 taxmann.com 425 (Article)

Understanding entry, operational and exit taxation of family trusts in the post-2026 regime

1. Introduction

Private trusts, often referred to as family trusts, have increasingly emerged as a preferred vehicle for succession planning among business families and high-net-worth individuals. While their legal foundation lies in the Indian Trusts Act, 1882, their tax treatment is governed by the Income-tax Act, 2025, which has come into force from 1st April 2026.

Unlike public charitable trusts, private trusts do not enjoy a separate exemption regime. Instead, they are taxed through the concept of a representative assessee, making the structure both flexible and, at times, complex. With the introduction of new provisions relating to deemed transfer and distribution, the taxation of private trusts now requires a more careful and structured approach, particularly from a succession planning standpoint.

2. Trust vs. Will

Succession planning in India is commonly executed either through a will or a trust, but the two operate on fundamentally different principles. Both of these modes are having its specific characteristics. A chart of major difference between both modes are as follows:

3. Taxation Framework – Income Tax Act, 2025

Private trusts are taxed under Chapter XVII of the Income Tax Act, specifically provisions are contained in sections 302 to 308. The Income-tax Act, 2025 continues the principle of taxing trusts through the mechanism of a representative assessee, wherein the trustee is assessed in respect of income received on behalf of beneficiaries.

The classification of trust into specific trust and discretionary trust is the main point to determining the rate and manner of taxation.

1. Specific Trust – Pass though in Substance – Specific trust is the trust wherein beneficiaries and their shares are known or identifiable. For being treated as specific trust, Sec 307(5) makes it clear that such person should be identifiable on the date of court order, Instrument of the trust or waqf deed etc and shares should be expressly stated in the Court order, Instrument of the trust, Waqf deed etc. If person is not identifiable or shares is not expressly stated then it will be deemed to be discretionary.

In such cases, the law mandates that income shall be taxed in the hands of the trustee in the like manner and to the same extent as it would have been taxed in the hands of the beneficiaries if not having business profession income . This effectively treats the trust as a pass-through vehicle, aligning the tax liability with the individual profiles of beneficiaries.

2. Discretionary Trust – Discretionary trust is trust wherein either beneficiary or shares of the beneficiaries are not known or certain. the statute prescribes taxation at the Maximum Marginal Rate (MMR), as the income cannot be attributed to any specific person with certain exceptions such as:

– The trust which is not having B/P Income, AND

– None of the beneficiaries has taxable income and Beneficiary is not the beneficiary in other trust. OR

– If the trust is declared through will and the said trust is the only trust declared by the settlor. OR

– Such trust is created before 1st March, 1970 and trust was created exclusively for the benefit of relatives of the settlor, OR

– Such income is received by trustee on behalf of PF, Super annuation fund, Gratuity Fund etc created by a person carrying business or profession exclusively for the benefit of persons employed in such business and profession.

Click Here To Read The Full Article

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Circular No.HO/49/14/11(12)2026-CFD-POD1/I/8806/2026, Dated 13.04.2026

The Securities and Exchange Board of India (SEBI) has specified the mandatory certification requirement for Social Impact Assessors (SIAs) under Regulation 292A(f) of the SEBI (ICDR) Regulations, 2018.

1. Mandatory Certification Requirement

SEBI has clarified that:

• A Social Impact Assessor must qualify a certification programme conducted by the National Institute of Securities Markets (NISM)
• The assessor must hold a valid certification at all times

2. Prescribed Certification Examination

• SIAs are required to obtain ‘NISM Series XXIII – Social Impact Assessors Certification Examination’

This ensures that assessors possess the necessary expertise and regulatory understanding.

3. Renewal of Certification

For maintaining validity of certification, SIAs must either:

• Reappear for the certification examination, or
• Successfully complete ‘NISM Series XXIII – Social Impact Assessors Certification eCPE Programme’ conducted by NISM

4. Regulatory Basis

The Circular has been issued under:

• Section 11(1) of the SEBI Act, 1992, and
• Regulation 292A(f) of the ICDR Regulations

The objective is to:

• Protect investor interests
• Promote the development and regulation of the securities market

5. Effective Date

• The Circular is effective immediately

6. Conclusion

This requirement strengthens the credibility and standardisation of social impact assessments, ensuring that qualified professionals conduct evaluations in alignment with SEBI’s regulatory framework.

Click Here To Read The Full Circular

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Case Details: Garlick Engineering vs. Suresh H. Karale [2026] 184 taxmann.com 672 (Bombay)[26-03-2026]

Judiciary and Counsel Details

• Amit Borkar, J.
• Sudhir Talsania, Sr. Adv. & Sujeet Salkar for the Petitioner.
• Ravindra B. Nair for the Respondent.

Facts of the Case

In the instant case, the petitioner-employer had declared a lockout and suspended operations with effect from 23-09-1992. During the pendency of industrial disputes, the petitioner introduced a Voluntary Retirement Scheme (VRS) for workmen aged between 50 and 58 years, which required resignation and provided for payment of specified dues along with ex gratia.

It was admitted that all workmen, except 60, accepted the VRS benefits in full and final settlement without any protest. Subsequently, on 26-04-1996, the undertaking was closed and the remaining 60 workmen were terminated upon payment of statutory dues. A settlement was thereafter entered into between the petitioner and the recognised union in respect of these 60 workmen, upon payment of ex gratia, expressly confining the settlement to them and not extending it to others.

Meanwhile, 41 plus 146 workmen who had resigned under the 1995 VRS filed complaints claiming lockout wages from 23-09-1992 till their respective dates of resignation, along with interest and compensation. The Industrial Court, by the impugned order, partly allowed the complaints, held that the petitioner had engaged in unfair labour practice under Item 5 of Schedule IV, and directed payment of lockout wages with interest at 10% per annum in case of default.

High Court Held

The High Court observed that where a workman signs a document acknowledging receipt of full and final settlement and declares that no further claims remain, such position must ordinarily be accepted. Since the complainants had voluntarily ended their employment, accepted the benefits and executed documents evidencing full settlement, it was not open to hold that the petitioner had committed unfair labour practice by not paying lockout wages.

It was further held that the complainants, not being parties to the earlier consent terms in the writ proceedings, could not simultaneously claim that such terms were not binding on them and yet seek to derive benefit from the same.

The High Court also noted that the settlement dated 6 February 2011 was expressly confined to the said 60 workmen and did not extend to others. Once the parties themselves had clearly defined the scope of the settlement, the Court could not enlarge it.

Accordingly, the High Court held that the impugned order was based on a misunderstanding of facts and law and was therefore unsustainable.

List of Cases Referred to

• A. Satyanarayana Reddy v. Presiding Officer, Labour Court [2017] 9 taxmann.com 956 (SC) (para 8)
• Chairman, U.P. Jal Nigam v. Jaswant Singh [2007] 2006 taxmann.com 3117 (SC) (para 8).

The post Lockout Wages Not Payable After VRS Full Settlement | HC appeared first on Taxmann Blog.

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Case Details: Social Educational and Welfare Association vs. Commissioner of Income-tax (Exemptions) [2026] 185 taxmann.com 172 (Nagpur-Trib.)

Judiciary and Counsel Details

• Pawan Singh, Judicial Member & Khettra Mohan Roy, Accountant Member
• P. M. Gandhi, CA for the Appellant.
• Pankaj Kumar, CIT-DR for the Respondent.

Facts of the Case

The assessee-trust filed an application seeking registration under section 12AB and approval under section 80G(5). In response to the notice, it furnished photographs, bills, notes on activities, particulars of expenses, financial statements, and supporting documents, stating that it was engaged in educational and welfare activities.

CIT(E) noted deficiencies and absence/incomplete documentation for certain expenses, expressed doubt about the genuineness and scope of activities and observed that the trust was benefiting a particular religious community. The CIT(E) further noted that a prior application for registration under section 12AB had been rejected, and that the application for registration under section 12AB, and the provisional registration earlier granted, were cancelled.

The matter reached the Nagpur Tribunal.

ITAT Held

The Tribunal held that at the stage of granting registration under section 12AB and approval under section 80G(5), the scope of enquiry is limited to examining the trust’s objects and the genuineness of its activities on a prima facie basis. The law does not mandate a conclusive or exhaustive verification of each activity or beneficiary at this stage.

In the present case, the assessee had placed on record various documents. Merely because certain documents, such as testimonials, complete beneficiary details, or exhaustive supporting evidence, were not furnished, the same cannot be a sole and compelling ground to conclude that the activities are not genuine. Further, the CIT(E) ‘s observation that the trust benefits a particular religious community cannot, by itself, be an infallible ground for rejection unless it is demonstrated that the trust is established for the benefit of a specific religious community or caste in violation of the statutory provisions.

No such conclusive finding has been brought on record, as CIT(E) has miserably failed to explain how he arrived at his conclusion. Therefore, the CIT(E) was directed to grant registration under section 12AB and approval under section 80G(5) in accordance with the law.

List of Cases Reviewed

• Malik Hasmullah Islamic Educational and Welfare Society v. CIT [2012] 24 taxmann.com 93/138 ITD 519 (Lucknow) (para 6) followed

List of Cases Referred to

• Malik Hasmullah Islamic Educational and Welfare Society v. CIT [2012] 24 taxmann.com 93/138 ITD 519 (Lucknow) (para 5).

The post Minor Gaps Can’t Deny 12AB/80G Registration | ITAT appeared first on Taxmann Blog.

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1. Introduction

On April 10, 2026, a clarification is issued regarding the mandatory applicability of the Audit Quality Maturity Model (AQMM) version 2.0 for practice units subject to peer review.

This update clarifies that firms auditing holding companies, subsidiaries, associates, or joint ventures of listed entities, insurance companies, and banks, specifically those other than co-operative banks, except for multi-state co-operative banks, are now included in the mandatory scope. It is important to note that the model currently applies to firms auditing these types of entities, but firms engaged exclusively in branch audits remain exempt from these requirements.

2. Implementation Details for April 2026

Starting April 1, 2026, the mandatory review applies to firms auditing the specific group entities mentioned above, as well as firms proposing to undertake statutory audits for large unlisted public companies. For these unlisted public companies, the requirement is triggered if they meet certain financial thresholds as of March 31 of the immediately preceding financial year. These thresholds include having a paid-up capital of at least 500 crore rupees, an annual turnover of at least 1000 crore rupees, or possessing aggregate outstanding loans, debentures, and deposits of at least 500 crore rupees.

3. Future Expansion and Public Interest Entities

The scope of the AQMM v. 2.0 will widen further beginning April 1, 2027, to encompass firms proposing to audit entities that have raised more than 50 crore rupees from the public, banks, or financial institutions during the period under review. Additionally, this phase of the mandate will include firms auditing any body corporate, including trusts, that are classified as public interest entities.

This phased implementation ensures that practice units involved with significant public interest and high-value entities are progressively brought under the quality maturity framework.

Click Here to Access the Announcement

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Case Details: Commissioner of Income-tax, Central vs. Saveetha Institute of Medical, Technical Sciences Erode - [2026] 185 taxmann.com 81 (Madras)

Judiciary and Counsel Details

• Dr G. Jayachandran & Shamim Ahmed, JJ.
• J. Narayanasamy, Standing Counsel for the Appellant.
• A.S. Sriraman for the Respondent.

Facts of the Case

The assessee was an educational trust running a Dental College and an Engineering College. Pursuant to information that huge cash was collected as capitation fees for admissions, a search under section 132 was conducted in the college premises and at the residence of the managing trustees. A statement of a managing trustee was recorded under section 132(4) stating that capitation fees were collected for management quota admissions. Slips containing details of students admitted under management and government quotas were seized.

Based on seized material and statements, the AO made additions on the presumption, including capitation fees collected from students, unaccounted cash, and excess income as per the Income and Expenditure Account, under the proviso to section 164(1), assessing total income at a certain amount.

On appeal, the CIT(A) deleted the additions. The Tribunal confirmed the order of CIT(A), and the matter reached the Madras High Court.

High Court Held

The High Court held that the statutory presumption as found in the Sections is not a conclusive presumption but a rebuttable presumption. Even to draw the presumption at first instance, the Department is bound to place material facts to lay a foundation for it.

In this case, the material placed, even after the enquiry before the first Appellate Authority and the Tribunal, consists of slips containing details of students admitted under management and government quotas. The other piece of evidence is the statement of one of the managing trustees, who at the time of the search of the premises, had given a statement that the management used to collect Rs. 1,00,000 as capitation fees from the students joining under the Management quota.

“Books of account” as defined under Section 2(12A) of the Income Tax Act, 1961, is an inclusive definition. It includes day books and other account books maintained in the regular course of administration. At the same time, the exhibits relied upon by the Department have nothing to do with the accounts. It is only information about the students and the category under which they got admitted. They do not fall within the definition of books of accounts.

Secondly, to draw the statutory presumption, a sworn statement by one of the Managing Trustees, uncorroborated, will not suffice. Without corroboration, the statement on oath, which has subsequently been retracted and contradicted by the other Managing Trustees, will not form the foundation for drawing such a presumption.

The further contention of the learned counsel is that the money collected as capitation fees is not utilised for the trust and, therefore, there is a subsequent violation. Merely on the statutory presumption, without corroboration, the collection of the capitation fee as found in the assessment order remains unproven and unsustainable.

List of Cases Reviewed

• Saveetha Institute of Medical & Technical Sciences V. Assistant Commissioner of Income-tax [2012] 25 taxmann.com 138 (Chennai – Trib.)/[2011] 12 ITR(T) 376 (Chennai – Trib.) Para 13) Affirmed.

The post Uncorroborated Retracted Statement Can’t Prove Capitation Fee | HC appeared first on Taxmann Blog.

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Notification No. FIDD.CO.LBS.BC.No.01/02.08.001/2026-27, Dated 10.04.2026

The Reserve Bank of India (RBI) has notified the assignment of Lead Bank responsibility for the newly formed districts of Polavaram and Markapuram in Andhra Pradesh.

1. Lead Bank Allocation

• Both districts have been assigned to Union Bank of India as the Lead Bank
• The RBI has also allotted new district working codes for administrative and operational purposes

2. No Change for Other Districts

The notification clarifies that:

• There is no change in Lead Bank responsibilities for other districts in Andhra Pradesh

3. Role of Lead Bank

The designated Lead Bank will be responsible for:

• Coordinating banking and financial inclusion activities in the district
• Implementing government-sponsored schemes
• Monitoring credit flow and banking development

4. Conclusion

The assignment ensures effective banking coordination and financial inclusion in the newly created districts, while maintaining continuity in the existing Lead Bank framework across the state.

Click Here To Read The Full Notification

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