This week in Indian law: Parliament's Winter Session opened with an ambitious 10-bill legislative agenda. The RBI cut the repo rate by 25 basis points to 5.25 per cent. The Securities Markets Code 2025 was introduced, proposing to consolidate three major capital markets statutes. 11 significant developments this week across legislative reform, monetary policy, and capital markets regulation.
Top story
Parliament Winter Session Opens With 10 Bills on Legislative Agenda
Category: Legislative & Policy | Date: 1 December 2025 | Source: Parliament of India
Parliament's Winter Session 2025 commenced on 1 December with 10 bills introduced on the opening day or during the first week. The legislative agenda reflects the government's continuing reform ambition, with major bills spanning financial sector reform, energy policy, social welfare, and employment law. Key legislation introduced includes the Securities Markets Code 2025 (consolidating the SEBI Act, Securities Contracts Regulation Act, and Depositories Act), the Sabka Bima Sabki Raksha Bill (permitting 100% FDI in insurance), the SHANTI Act (modernising nuclear energy governance), and the VB-GRAM-G Bill (replacing MGNREGA with an enhanced employment guarantee). The session is expected to last 15-18 sittings through mid-December.
Why it matters: Combined with the Monsoon Session's 15 enacted bills, the Winter Session could make 2025 one of the most legislatively productive years in Indian parliamentary history. The financial sector reforms — particularly the Securities Markets Code — could reshape India's capital markets architecture.
Read more: Veritect analysis
Regulatory updates
RBI Cuts Repo Rate by 25 bps to 5.25%
Regulator: Reserve Bank of India | Date: 5 December 2025
The RBI Monetary Policy Committee reduced the repo rate by 25 basis points to 5.25 per cent in its December 2025 bi-monthly review. This is the second rate cut of 2025, following the 50 bps reduction in June, bringing the cumulative easing to 75 basis points. The MPC maintained its accommodative stance, citing stable inflation within the target band and the need to support economic growth momentum into FY27. The committee also noted the positive impact of earlier CRR reductions on banking sector liquidity and signalled willingness to continue the easing cycle if macroeconomic conditions warrant.
Key point: The cumulative 75 bps easing in 2025 should translate into meaningful reduction in lending rates across the economy, benefiting both consumer and corporate borrowers.
Reserve Bank of India · Veritect analysis
Legislative and policy developments
Securities Markets Code 2025 Introduced and Referred to Committee
Date: 1 December 2025
The Securities Markets Code 2025 was introduced in the Lok Sabha, proposing to consolidate the SEBI Act 1992, the Securities Contracts (Regulation) Act 1956, and the Depositories Act 1996 into a single comprehensive statute governing India's capital markets. The bill was referred to the Parliamentary Standing Committee on Finance for detailed examination. Key features include a unified enforcement framework with enhanced penalty provisions, modernised provisions for electronic securities and digital platforms, an expanded definition of "securities" to cover crypto-assets and digital tokens, and a streamlined regulatory architecture reducing overlap between SEBI, stock exchanges, and depositories.
Key point: The Securities Markets Code is the most significant proposed reform of India's capital markets legal framework in three decades and could fundamentally alter SEBI's regulatory approach.
Parliament of India · Veritect analysis
Court judgments
SC on UAPA Reverse Burden and Fair Trial
Court: Supreme Court of India | Date: 8 December 2025
The Supreme Court clarified the operation of the reverse burden of proof under the Unlawful Activities (Prevention) Act, holding that while the Act shifts certain evidentiary burdens to the accused, this does not relieve the prosecution of its duty to present credible evidence establishing a prima facie case. The Court held that the reverse burden operates only after the prosecution establishes a foundational fact through credible evidence, and cannot be used to fill evidentiary gaps in the prosecution's case.
Key point: The ruling provides crucial guidance on the limits of UAPA's reverse burden, reinforcing that even in anti-terrorism prosecutions, fundamental fair trial standards must be maintained.
Supreme Court of India · Veritect analysis
Also this week
- DPDP Rules compliance — Significant Data Fiduciaries accelerating compliance projects; 12-month deadline counting down.
- Income-Tax Act 2025 — Less than 4 months to effective date; industry and professionals intensifying preparation.
- NI Act implementation — Lower courts implementing expedited disposal and jurisdiction guidelines with early positive results.
- Tribunals Commission consultation — Government seeking stakeholder input on the proposed National Tribunals Commission structure.
By the numbers
- 75 bps — Cumulative repo rate reduction in 2025 (50 bps in June + 25 bps in December)
- 5.25% — Current repo rate, the lowest since the post-pandemic easing cycle
- 10 — Bills introduced in the Winter Session's opening week
Looking ahead
- Mid-December: Insurance laws amendment and SHANTI Act expected to be passed
- December 18-19: Session adjournment expected — final legislative push
- December 20: SC to rise for winter recess
- 1 April 2026: Income-Tax Act 2025 takes effect — 4 months remaining
This is the Veritect Weekly Legal Roundup for Week 49 of 2025. For daily updates, visit our legal news page. Subscribe to receive this roundup every Monday morning.
Veritect provides this content for informational purposes and does not constitute legal advice.