Banks Archives

COVID-19| Seeking waiver of interest on interest for loan during the moratorium period? SC asks Govt to implement decision to forego compound interest on these 8 categories

Supreme Court: In a breather to customers in the case relating to waiver of interest on loan during the moratorium period, the

Case Briefs Supreme Court

Candidate suppresses his over-qualification during recruitment process. Can he later contend that over-qualification can’t be a disqualification? Here’s what SC says

Employers prescribe qualifications to any post, not Courts.

Hot Off The Press News

Ministry of Finance | Factual position in respect to Service Charges levied by banks

There have been several media reports alluding to steep increase in service charges by certain Public Sector Banks (PSBs). In this context,

Case Briefs High Courts

Del HC | Is the liability of Principal Borrower and Guarantor co-extensive? Court reiterates SC’s position on continuation of SARFAESI proceedings against Guarantor by banks

Delhi High Court: A Division Bench of Hima Kohli and Subramonium Prasad, JJ., considered the following question: Whether a bank/financial institution can institute

Legislation Updates Statutes/Bills/Ordinances

Lok Sabha | Banking Regulation (Amendment) Bill, 2020: Read how the bill will strengthen the co-operative banks [Bill Passed]

The Banking Regulation (Amendment) Bill, 2020 Which Act will the said bill amend? The Banking Regulation (Amendment) Bill, 2020 will amend the

Legislation Updates Notifications

CBDT | Charges collected on prescribed electronic modes asked to be refunded, if collected after 1st January, 2020

Central Board of Direct taxes notifies a clarification that the imposition of a charge on the prescribed electronic modes under Section 269

Legislation Updates Statutes/Bills/Ordinances

President Promulgates Banking Regulation (Amendment) Ordinance, 2020

In pursuance of the commitment to ensure safety of depositors across banks, the President has promulgated the Banking Regulation (Amendment) Ordinance, 2020. (Click

Op Eds OP. ED.

RBI’s Press Statement regarding Moratorium on Term Loans — The Way Forward

by Arjun Harkauli*

Cabinet Decisions Legislation Updates

Cabinet approves extension of repayment date for short term loans for agriculture and allied activities

Union Cabinet has given its approval to extend repayment date upto 31.08.2020 for Standard Short-Term loans upto Rs 3 lakh advanced for

Case Briefs Supreme Court (Constitution/Larger Benches)

SARFAESI Act applicable to Cooperative Banks: Constitution Bench

Supreme Court: The 5-judge bench of Arun Mishra, Indira Banerjee, Vineet Saran, MR Shah and Aniruddha Bose, JJ has held that “’banking’

Case Briefs Supreme Court

Notice issued to Centre, RBI and the likes over need for expeditious disposal of trials under Section 138 of Negotiable Instruments Act

Supreme Court: Taking suo motu cognizance of the issue relating to the expeditious trial of cases under Section 138 of Negotiable Instruments

Case Briefs Supreme Court

PIL challenging the Centre’s policy to allow private bank officials to be appointed as Managing Directors or CEOs of public sector banks, dismissed

Supreme Court: The 3-judge bench of T.S. Thakur, CJ and A.M. Khanwilkar and D.Y. Chandrachud, JJ dismissed the PIL challenging the Centre’s