On 25-10-2023, the Reserve Bank of India (‘RBI’) directed all the Private Sector Banks and Wholly Owned Subsidiaries of Foreign Banks to
On 30-9-2023, the Reserve Bank of India (‘RBI’) announced that with effect from 8-10-2023, the deposit or exchange of Rs. 2000 banknotes
by Hrishikesh Reddy Kothwal*
On 12-9-2023, the Reserve Bank of India (‘RBI’) notified the Classification, Valuation and Operation of Investment Portfolio of Commercial Banks, Directions, 2023
On 8-9-2023, the Reserve Bank of India (‘RBI’) decides to discontinue the Incremental Cash Reserve Ration (‘I-CRR’) in a phased manner and
“A third-party app such as Google Pay obtains approval from National Payments Corporation of India (‘NPCI’) for operating on the UPI platform and RBI has issued the Certificate of Authorisation to the NPCI to operate various retail payment systems in India including UPI.”
Delhi High Court observed that the decision is not to demonetize Rs. 2000 bank notes but only a direction to the banks to desist from issuing Rs. 2000 denomination notes to its customers and to ensure that no withdrawal of Rs. 2000 denomination notes is allowed from the banks holding currency chest.
Himachal Pradesh High Court said that to assist the respective State Governments to choose the right persons to conduct statutory audits, the NABARD had issued the impugned letter prescribing broad guidelines
NCDRC held the HSBC officials negligent and deficient in service entitling the complainants to compensation for unwarranted humiliation, embarrassment and loss of reputation.
On 23-6-2023, the Reserve Bank of India (‘RBI’) imposed a penalty of Rs. 30 lakhs on Axis Bank Ltd. for non-compliance with
NCLAT observed that the principal objective of the IBC is ‘revival of the Corporate Debtor and Resolution’ and therefore “Liquidation ought to be the last resort, keeping in view the scope and spirit of the Code.”
A publicity interest litigation should be nipped in the bud so that valuable time of the Court is saved which can be effectively utilized in reducing huge pendency of cases.
Delhi High Court noted that the present decision of the Government to dispense with Rs. 2000 denomination banknotes is not a decision towards demonetisation.
The right to recovery of the Banks and Financial Institutions if pitted against the constitutional right of life of a person to live with dignity and not to be deprived of without following the established procedure of law, the constitutional rights of the person shall prevail.
Madras High Court said that the RBI guidelines are issued not as a formality, but the entities subjected to the RBI regulations should comply with the conditions of the master circular in its true letter and spirit
RBI has directed to deposit the Rs. 2000 denomination banknotes in the bank accounts and/ or exchange them into banknotes of other denominations at any bank branch
by Siddharth R. Gupta† and Prakriti††
Cite as: 2023 SCC OnLine Blog Exp 29
Madras High Court said that whether it is contractual employment, temporary engagements or otherwise, the procedure to be adopted by Banks must be transparent and in compliance with the mandates of the Constitution.
‘Audi alteram partem application cannot be impliedly excluded under the Master Directions on Frauds.’
On 6-4-2023, the Reserve Bank of India (‘RBI’) imposed monetary penalty of Rs. 6.77 crores on Mahindra & Mahindra Financial Services Ltd.,