Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Major changes to EFT payments by SA Banks
Corporate Compliance
South African banks will discontinue electronic funds transfers (EFT) with Lesotho, Namibia, and Eswatini by September 2024 due to regulatory changes and compliance issues. Standard Bank cited concerns among Common Monetary Area (CMA) regulators about processing low-value payments as cross-border transactions. This impacts businesses using EFT for payments and collections, requiring alternative cross-border payment methods. Banks are assisting clients in adopting new services and localizing banking arrangements.
