RBI imposes monetary penalty of Rs. 6.77 crores on Mahindra & Mahindra Financial Services Ltd.
On 6-4-2023, the Reserve Bank of India (‘RBI’) imposed monetary penalty of Rs. 6.77 crores on Mahindra & Mahindra Financial Services Ltd.,
RBI
Tribunal, Regulatory Bodies and Commissions Monthly Roundup | Top 13 Legal Stories covering Google-CCI case, FTS under India Netherlands DTAA, RCap Resolution, RBI Penalty on Amazon, SEBI Penalty on Arshad Warsi, and more from March 2023
Find interesting rulings by NCLT, NCLAT, RBI, ITAT, SEBI, NCDRC covering legal stories on FTS under India Netherlands DTAA, reconsideration of approved resolution plan in insolvency proceedings, definition of financial debt, compensation against doctor’s legal obligations, and much more.
Power to expand scope of ‘individual borrowers’ under RBI Circular, 2014 vests with RBI and not with High Court: Madras High Court
Madras High Court said that the circular dated 2-08-2019, cannot have any implication in respect of the sole proprietary concern of the petitioner i.e., “M/s. Murugan Idli Shop”.
Banks must hear borrowers before classifying their accounts as fraud as it may lead to its ‘civil death’: Supreme Court
The Supreme Court observed that principles of natural justice should be necessarily read into the provisions of the Master Directions on Frauds, to save it from the vice of arbitrariness.
![Landmark Judgments on Banking Laws [2022] Part I](https://www.scconline.com/blog/wp-content/uploads/2023/03/MicrosoftTeams-image-3-1-440x293.png)
Landmark Judgments on Banking Laws [2022] Part I
by Siddharth R. Gupta†
Cite as: 2023 SCC OnLine Blog Exp 30
Delhi High Court dismisses PIL filed seeking directions to draft and implement a comprehensive scheme to address the grievances of home buyers availing home loans
The PIL seeks formulation and implementation of a scheme that conclusively addresses the grievances of other home buyers who may not have the capacity to approach courts/forums to seek redressal against builders.
RBI imposes penalty of Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance of KYC requirements
On 3-3-2-2023, the Reserve Bank of India (‘RBI’) imposed a penalty of Rs. 3.06 crore on Amazon Pay (India) Private Limited for
Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011 and the Telangana Micro Finance Institutions (Regulation of Money Lending) Act, 2011 are not unconstitutional: Telangana High Court
The Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2011 and the Telangana Micro Finance Institutions (Regulation of Money Lending) Act, 2011 are not unconstitutional and the NBFCs operating in the States of Telangana and Andhra Pradesh registered with the RBI will be excluded from the purview of these two enactments.
RBI directs Asset Reconstruction Companies to reduce their management fees
On 20-2-2023, the Reserve Bank of India (‘RBI’) issued a circular on Implementation of Indian Accounting Standards (‘Ind AS’) to resolve the
RBI modifies BASEL III Capital Regulations- Eligible CRAs
On 9-1-2023, the Reserve Bank of India (‘RBI') modified the Master circular on Basel III Capital regulations revising the list of the
Supreme Court upholds Centre’s decision of demonetising Rs. 500 and Rs. 1000 currency notes
Supreme Court: In a petition against the demonitisation of Rs. 500 and Rs. 1000 currency notes in 2016, the Constitution Bench of
RBI announces Central Payments Fraud Information Registry- Migration of Reporting to DAKSH
On 26-12-2022, the Reserve Bank of India (‘RBI’) has announced the Central Payments Fraud Information Registry (‘CPFIR’)- Migration of Reporting
RBI announces Series III and IV Sovereign Gold Bond Scheme 2022-23
On 16-12-2022, the Reserve Bank of India (‘RBI') has announced Series III and IV of Sovereign Gold Bond Scheme 2022-2023.
RBI issues circular on disclosure of material items under RBI (Financial Statement- Presentation and Disclosures) Directions, 2021
On 13-12-2022, the Reserve Bank of India (‘RBI’) has issued circular on Disclosure of material items under the Reserve Bank of India
RBI issues Master Directions on Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directions, 2022
On 12-12-2022, the Reserve Bank of India (‘RBI’) has issued Master Directions on Foreign Exchange Management (Hedging of Commodity Price
[October 2022] Legislation Monthly Roundup | 15+ Stories relating to Legal Metrology Amendment Rules; Digital Media Ethics Code; RBI (Credit Information Companies- Internal Ombudsman) Directions, 2022 and SEBI Circulars
A quick legal roundup to cover important stories from all Legislation Updates in October 2022 MINISTRY OF CORPORATE AFFAIRS Legal Metrology (General)
Right to Information vis-a-vis Right to Privacy; SC invokes doctrine of ex debito justitiae to hear HDFC’s plea challenging RBI directions mandating disclosure of confidential & sensitive information
“If a man has been wronged, so long as the wrong lies within the human machinery of administration of justice, that wrong must be remedied.”
Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022
The Reserve Bank of India (hereinafter called the Reserve Bank) issued Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022. These
RBI mandates Internal Ombudsman mechanism for Credit Information Companies vide RBI (Credit Information Companies- Internal Ombudsman) Directions, 2022
On 06-10-2022, the Reserve Bank of India has mandated Internal Ombudsman mechanism for Credit Information Companies (CICs) vide RBI (Credit Information Companies-
RBI notifies Late Submission Fee for reporting delays under FEMA
On 30-09-2022, the Reserve Bank of India has introduced Late Submission Fee for reporting delays under FEMA. The Late Submission Fee (LSF)