RBI did not do proper auditing: CVC on PNB fraud

Posted On & filed under Top Law News.

Central Vigilance Commissioner K V Chowdary today said the Reserve Bank of India (RBI) had apparently not conducted an audit during the period of time when a Rs 13,000-crore scam hit the Punjab National Bank. Chowdary stressed the need to put into place a more robust auditing system. “They did not do this (an audit),”… Read more »

PNB fraud: Centre opposes plea for SIT probe

Posted On & filed under High Profile Cases.

The Centre today opposed in the Supreme Court a PIL seeking an independent probe and deportation of billionaire jeweller Nirav Modi in the over Rs 11,000 crore PNB fraud case, saying an FIR has been lodged and a probe was on. A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D… Read more »

Gujarat HC raps RBI for giving directions to NCLT

Posted On & filed under Top Law News.

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 »

Rs 1.58 cr sent to Solapur coop bank for teachers’ salary

Posted On & filed under Top Law News.

The Reserve Bank today informed the Bombay High Court that it has transferred a sum of Rs 1.58 crore to Solapur District Cooperative Bank for disbursal of salaries to aided school teachers. “We have sent Rs 1.58 crore to the Solapur district bank for disbursal of salaries to the teachers. The money can be transferred… Read more »

Cap on withdrawals from ATMs policy decision

Posted On & filed under Consumer Law News, Top Law News.

The Reserve Bank of India has told the Delhi High Court that the cap on the number of withdrawals from ATMs by banking customers without being charged is a policy decision taken in public interest. A bench of Chief Justice G Rohini and Justice Sangita Dhingra Sehgal was also informed by RBI that the ATM… Read more »

Court stays information panel’s order to RBI on RTI plea

Posted On & filed under Top Law News.

The Delhi High Court Friday stayed an order of the Central Information Commission (CIC) directing the Reserve Bank of India to provide information regarding credit provided to industrialists by nationalized banks to a Right to Information (RTI) applicant. Justice Vipin Sanghi also issued notice to the RTI applicant, P.P. Kapoor, seeking his reply before the… Read more »