Bringing you the Best Analytical Legal News
The central dispute involved RBI’s cancellation of Shabros Finvest Pvt. Ltd.’s NBFC registration for allegedly failing to meet the prescribed Net Owned Fund (NOF) requirement.
RBI notifies digital lending rules to establish transparency, protect borrowers, and regulate multi-lender partnerships.
This relaxation will help in complying with short- term investment limit and concentration limit.
It will help in innovation and constructive engagement of FinTech.
Banks cannot pay Offer prize/ lottery/ free tips any other initiative having element of chance for mobilizing deposits.
The Income Tax Department stated that it did not intend to seize the bank notes pursuant to which the police authorities returned the same to the petitioners on 14-1-2017.
In case of violation, RBI can disallow the violator from dealing in bond forwards for a period of 1 month at a time.
A quick legal roundup to cover important stories from all High Courts this week.
It is an elementary principle that when a public authority is vested with specific powers, it is duty bound to act accordingly. Therefore, any failure to exercise statutory powers gives rise to a cause of action to secure performance of such duty by way of issuance of writ of mandamus under Article 226.
Borrowers with dues of more than Rs. 1 crore can settle their amount only after IACs evaluation.
The 25th Governor of the Reserve Bank of India, Shaktikanta Das, served at the post for 6 years.
The Insolvency Bankruptcy Board of India (‘IBBI’) and INSOL India held the 2nd International Conclave in Delhi on 7th December to engage in the path-breaking discourse surrounding the ever-evolving space of insolvency and bankruptcy.
The 2024 Regulations have amended the meaning of startup in the explanations to Regulation 5 and Schedule I para 1 (vii) of the 2015 Regulations.
Apart from failing to disclose information regarding LCR and conveying the loan amounts sanctioned, MVAFL also failed to submit data of gold loan customers.
HP Financial Services not only failed to establish a periodic review of risk categorization of accounts but also failed to form an IT Strategy Committee as well as an IT Steering Committee.
The penalty imposed was based on deficiencies in statutory and regulatory compliance on behalf of HDFC bank.
Axis bank contravened S. 19(1)(a) of the Banking Regulation Act as one of its wholly owned subsidiaries was engaged in an impermissible business as per S. 6 of the Act.
The matter revolved around the Notification dated 29-05-2015 issued by the Central Government, containing instructions for the Framework for Revival and Rehabilitation of MSMEs.
The 2024 Regulations provide that a person resident outside India who maintains a securities account with a depository in IFSC in India would be able to purchase or sell Sovereign Green Bonds issued by the Government of India.
Muthoot Finance had been allotting more than one UCIC to its individual customers in contradiction to the 2016 KYC Directions issued by the RBI.