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Delhi High Court held that a bank cannot unilaterally reduce the interest rate on a court-attached fixed deposit without notifying the affected parties or obtaining the Court’s directions and upheld the Single Judge’s order directing payment of interest at the higher rate.
RBI allows persons resident outside India to invest surplus rupee balances in Government Securities via Special Vostro Accounts under updated FEMA and Master Direction framework.
Respondents submitted that no opportunity of personal hearing was required to be assigned to the aggrieved, before the FIR was filed and registered.
Bombay High Court noted that all the petitions in the instant matter complained against the violation of principles of natural justice while following RBI directions.
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”.
Delhi High Court: Sanjeev Sachdeva, J. addressed the urgent matter with regard to a direction being sought to Yes Bank regarding not taking any
Supreme Court: Holding the Reserve Bank of India [RBI] Circular issued on 12.02.2018 ultra vires Section 35AA of the Banking Regulation Act,