Top Law News RBI cuts interest rates and extends loan moratorium to ramps up economic support. May 22, 2020 by Legal India Admin | Leave a Comment The Reserve Bank of India (RBI) on Friday slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates in an effort to support the economy which is likely to contract for the first time in over four decades. The benchmark repurchase (repo) rate was cut by 40 basis points […] Read more » RBI RBI cuts interest rates RBI extends loan moratorium RBI ramps up economic support. three-month moratorium on payment of monthly instalments
Top Law News How the RBI Dodged RTI Appeals For Minutes Of Meeting On Demonetisation. March 14, 2019 by Legal India Admin | Leave a Comment After two years of stubborn refusal to part with any details regarding the minutes of its board meeting on demonetisation, the RBI has demonstrated its sheer disdain for the RTI Act. While India’s leaders make a mockery of the constitution and the economy, the Reserve Bank of India made a mockery of the Right to […] Read more » Demonetisation Meeting On Demonetisation Minutes Of Meeting On Demonetisation. political economy RBI Reserve Bank of India RTI Appeals
Top Law News Will take appropriate supervisory action in PNB case : RBI February 18, 2018 by Legal India Admin | Leave a Comment The Reserve Bank today said it has already undertaken an assessment of control systems at scam-hit Punjab National Bank and will take “appropriate supervisory action”. The country’s second largest state-run lender has been rocked by a Rs 11,400-crore fraud allegedly involving billionaire diamantaire Nirav Modi. In a statement, the central bank said it has already […] Read more » 1.77 billion scam billionaire jeweller Nirav Modi featured Nirav Modi PNB case RBI supervisory action
High Profile Cases Visually impaired facing problems with new currency: Delhi HC December 2, 2017 by Legal India Admin | Leave a Comment Visually impaired persons are facing difficulty in using the newly introduced currency notes and coins, the Delhi High Court observed today and issued notice to the government and the RBI. The court said the matter was of “very grave public interest” and should be addressed seriously. A number of visually impaired people in the country […] Read more » Court Delhi High Court featured Law Legal News problems with new currency RBI
Top Law News Visually impaired cannot recognise new Rs 50 note: PIL in HC November 4, 2017 by Legal India Admin | Leave a Comment The newly issued Rs 50 currency notes cannot be differentiated from others by visually impaired persons, a PIL today claimed in the Delhi High Court which sought the RBI and the Centre’s stand on the issue. A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar said the matter needed urgent attention […] Read more » Court Delhi High Court featured Law Legal News PIL RBI Visually impaired cannot recognise new Rs 50 note
Top Law News Gujarat HC raps RBI for giving directions to NCLT July 18, 2017 by Legal India Admin | Leave a Comment The Gujarat High Court today rebuked the Reserve Bank of India for asking the National Company Law Tribunal in its June 13 directive to give priority to the insolvency proceedings against companies with huge debts. It also questioned the functioning of the central bank. The bench of Justice S G Shah came down heavily on […] Read more » Court featured Gujarat High Court Law Legal News NCLT RBI Reserve Bank of India
Top Law News SC asks Govt to consider giving window to deposit old notes July 5, 2017 by Legal India Admin | Leave a Comment Rekindling hopes, the Supreme Court today asked the government and the RBI to consider granting a window to those who have not been able to exchange scrapped Rs 500 and Rs 1000 notes for genuine reasons, saying people should not lose their own money for no fault of theirs. “You (Centre) cannot be allowed to […] Read more » Centre government Court featured Law Legal News old notes RBI Supreme Court
High Profile Cases SC gives Centre, RBI time to devise plan for depositing demonetised currency July 4, 2017 by Legal India Admin | Leave a Comment The Supreme Court today granted the Centre and the Reserve Bank of India two weeks to consider the option of granting a window to those who could not deposit their demonetised Rs 500 and Rs 1,000 currency notes for a compelling reason. A bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud […] Read more » Centre government Court demonetised currency featured Law Legal News RBI Supreme Court
Top Law News No deadline for introduction of Sharia banking in India: RBI April 9, 2017 by Legal India Admin | Leave a Comment No deadline has been set for introduction of Sharia or interest-free banking in India, the Reserve Bank of India (RBI) has said. Islamic or Sharia banking is a finance system based on the principles of not charging interest, which is prohibited under Islam. The RBI had earlier proposed opening of “Islamic window” in conventional banks […] Read more » featured Financial Sector Reforms former RBI governor Raghuram Rajan interest-free banking interest-free banking in India introduction of Sharia RBI Sharia banking Sharia banking in India
Top Law News ‘Intention was to make you alive to the situation’ March 11, 2017 by Legal India Admin | Leave a Comment The Supreme Court today said its order seeking prompt replies from the Centre and the RBI on a plea against alleged tweaking of rules on exchange of demonetised currency was intended to make them “alive to the situation”. The apex court, which had issued notices to the Centre and the federal bank on March 6, […] Read more » Court exchange of demonetised currency featured Law Legal News RBI Supreme Court
Top Law News SC seeks reply of Centre,RBI on plea over depositing old notes March 6, 2017 by Legal India Admin | Leave a Comment The Supreme Court today sought response from the Centre and the RBI on a plea alleging that people were not being allowed to deposit demonetised currency notes till March 31 as promised. “Issue notice returnable by Friday,” a bench headed by Chief Justice J S Khehar said and asked petitioner Sharad Mishra to serve the […] Read more » Centre government Court featured Law Legal News plea RBI Supreme Court
High Profile Cases PIL not a weapon to challenge financial decisions: RBI to Delhi HC March 6, 2017 by Legal India Admin | Leave a Comment Public interest litigation (PIL) cannot be used as a “weapon to challenge financial or economic decisions”, the RBI has told the Delhi High Court opposing a plea against the surcharge on credit and debit card transactions. The plea has alleged that the surcharge levied by the banks and the financial institutions on credit and debit […] Read more » Court Delhi High Court featured Law Legal News PIL not a weapon to challenge financial decisions RBI
