SC seeks reply of Centre,RBI on plea over depositing old notes

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 […]

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PIL not a weapon to challenge financial decisions: RBI to Delhi HC

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 […]

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Suicides by farmers: SC seeks response from Centre, states

The Supreme Court today sought responses from the Centre, state governments, union territories and the RBI to examine the likely reasons behind suicides by farmers. A bench comprising Chief Justice J S Khehar and Justice N V Ramana asked them to respond within four weeks. The bench said that it is a “sensitive matter” of […]

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Bombay HC asks RBI to consider issue of salary payment to teachers

The Bombay High Court today asked the RBI to consider the issue of payment of salaries to aided school teachers since it is disbursed through district cooperative banks which have been prohibited from depositing and exchanging old currency notes. The Mumbai, Solapur, Nashik and Pune District Central Cooperative Banks had approached the high court challenging […]

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Fin Min, RBI response sought on exchanging old notes

The Bombay High Court has sought response from the Finance Ministry and Reserve Bank of India on a PIL seeking extension of deadline for exchanging the demonetised notes. A division bench of Justices Bhushan Gavai and Vinay Deshpande issued the notices yesterday while hearing a Public Interest Litigation (PIL), and posted the matter for further […]

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Demonetisation: Guj HC seeks response from Centre, RBI

The Gujarat High Court has sought response from the Centre and RBI on a PIL challenging the legality of demonetisation and exclusion of district cooperative bank account holders from exchanging or withdrawing currency notes. A division bench of Chief Justice R Subhash Reddy and Justice V M Pancholi sought the response on a PIL moved […]

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Bombay HC seeks RBI’s response on co-operative banks’ petition

Observing that prima facie there were some inconsistencies in the two circulars issued by the Reserve Bank to district co-operative banks on demonetisation issue, the Bombay High Court today sought RBI’s response to a batch of petitions filed by these banks. The Mumbai and Solapur District Central Co-operative banks had approached the high court last […]

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Cannot disclose details on release of new Rs 500 notes: RBI

The Reserve Bank of India today informed the Madras High Court that it cannot disclose details regarding the release of new Rs 500 denomination currency to the banks for distribution due to security reasons. The submission was made by the counsel for RBI on a petition seeking a direction to the Registrar of Co-operative Societies […]

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RBI to intervene in Tata-NTT Docomo case in HC

The Reserve Bank of India (RBI) today sought to intervene in the ongoing litigation in Delhi High Court between Tata Sons and Japanese telecom major NTT Docomo over the enforcement of a USD 1.17 billion arbitral award in favour of the foreign company. The London Court of International Arbitration (LCIA) had made the award in […]

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SC for disclosure of amount of outstanding loans, RBI resists

Supreme Court

Default in repayment of loans running into “lakhs of crores of rupees” today prompted the Supreme Court to throw up the idea of making public the total outstanding amount without disclosing the defaulters names, but RBI resisted the proposal citing confidentiality clause. “This information does make out a case. This is quite a substantial amount […]

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