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public sector banks
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Selection of Auditors for Cooperative banks: Himachal Pradesh High Court upholds NABARD’s guidelines
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
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Procedures for empanelment of lawyers in Banks not in compliance with Constitutional mandate; Madras HC directs Nationalised Banks to reform their system of selection
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.
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Delhi High Court upholds LOC issued by SFIO for alleged siphoning off public funds of public sector banks and financial institutions
LOCs impinge upon the individual’s right to travel which is recognised as a Fundamental Right. However, the rights and interest of the investing public would also be a relevant consideration which cannot be ignored.
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,
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Rajya Sabha Update | Prevention of Fraudulent Banking Practices
The Ministry of Finance has taken a number of steps to eliminate fraudulent banking practices. This was stated by Shri Anurag Thakur
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One Time Settlement of NPAs
As per instructions of Reserve Bank of India, banks are required to have a loan recover policy, which may cover, inter alia, negotiated settlements
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Prompt Corrective Action of RBI on Public Sector Banks
Reserve Bank of India has issued a Prompt Corrective Action (PCA) framework to maintain sound financial health of banks. It facilitates banks
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No reservation for SC/ST categories in case of officers’ promotions in public sector banks
Supreme Court: Reviewing its judgment dated 9-1-2015, the Division Bench of Chelameswar and Dr. A.K. Sikri, JJ has held that there is