Explained| Supreme Court’s judgment on classifying borrower’s accounts ‘fraudulent’ by Lender Banks vis-a-vis Audi Alteram Partem
‘Audi alteram partem application cannot be impliedly excluded under the Master Directions on Frauds.’
Banks
Banks must hear borrowers before classifying their accounts as fraud as it may lead to its ‘civil death’: Supreme Court
The Supreme Court observed that principles of natural justice should be necessarily read into the provisions of the Master Directions on Frauds, to save it from the vice of arbitrariness.
Delhi High Court dismisses PIL filed seeking directions to draft and implement a comprehensive scheme to address the grievances of home buyers availing home loans
The PIL seeks formulation and implementation of a scheme that conclusively addresses the grievances of other home buyers who may not have the capacity to approach courts/forums to seek redressal against builders.
Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022
The Reserve Bank of India (hereinafter called the Reserve Bank) issued Reserve Bank of India (Unhedged Foreign Currency Exposure) Directions, 2022. These
Four months in prison; Rs. 2000 fine for Vijay Mallya for contempt; US$40 million to be deposited by him and beneficiaries at 8% interest per annum
Supreme Court observed that Vijay Mallya “never showed any remorse nor tendered any apology for his conduct” of transferring a huge sum of US$40 million to his children instead of repaying his debt of more than Rs. 9000 crores to the banks.
MoHFW notifies Assisted Reproductive Technology (Regulation) Rules, 2022
The Central Government has notified the Assisted Reproductive Technology (Regulation) Rules, 2022 in order to regulate the functioning of Assisted Reproductive Technology
Borrowers with exposure of Rs 5 crores and above have to obtain Legal Entity Identifier? Know what RBI says
The guidelines on LEI stand extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs). The non-individual borrowers enjoying aggregate
865 Judgments, 4 Sitting Women Judges and A Hope For First Woman CJI| An All-inclusive Supreme Court 2021 Roundup
Year 2021! The year that started with the hope of the COVID-19 Pandemic nearing an end with countries starting vaccination, ended up
If Banks have to survive, borrowers must exist and not mere borrowers but productive borrowers: Del HC on whether borrowers have protection against arbitrary disposal of properties mortgaged to banks at low prices? [In-depth Report]
Delhi High Court: Asha Menon, J., expressed that, The Banks seek collaterals and security to prevent losses to themselves. It is, but
COVID-19 Second Wave | Financial relief a policy matter; Similar order already passed: SC refuse to entertain plea seeking loan moratorium extension
Supreme Court: The bench of Ashok Bhushan and MR Shah, JJ has refused to pass any direction in the petition seeking effective
NCLAT | Can Banks debit amounts from Corporate Debtor Company after Moratorium Order? Is there an obligation of releasing ‘title deeds’ under Resolution Process? Read on
National Company Law Appellate Tribunal (NCLAT): The Division Bench of Justice Anant Bijay Singh, Judicial Member and Shreesha Merla, Technical Member held
Loan Moratorium Case| Supreme Court says no to total waiver of interest and extension of moratorium period but directs full waiver of compound interest
There was no justification shown by the Government to restrict the relief of not charging interest on interest with respect to the loans up to Rs. 2 crores only and that too restricted to only 8 categories.
RBI | Digital Payment Security Controls: Master Direction on minimum standards of security controls for digital payment
Master Direction on Digital Payment Security Controls The Master Direction provides necessary guidelines for the Regulated Entities (Scheduled Commercial Banks, Small Finance
Supreme Court directs compensation of Rs. 5 Lakhs after a bank breaks customer’s locker without just cause. RBI to frame rules for Locker management [Read obligations of bank]
“Banks cannot wash off their hands and claim that they bear no liability towards their customers for the operation of the locker.”
COVID-19| Seeking waiver of interest on interest for loan during the moratorium period? SC asks Govt to implement decision to forego compound interest on these 8 categories
Supreme Court: In a breather to customers in the case relating to waiver of interest on loan during the moratorium period, the
Candidate suppresses his over-qualification during recruitment process. Can he later contend that over-qualification can’t be a disqualification? Here’s what SC says
Employers prescribe qualifications to any post, not Courts.
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,
Del HC | Is the liability of Principal Borrower and Guarantor co-extensive? Court reiterates SC’s position on continuation of SARFAESI proceedings against Guarantor by banks
Delhi High Court: A Division Bench of Hima Kohli and Subramonium Prasad, JJ., considered the following question: Whether a bank/financial institution can institute
Lok Sabha | Banking Regulation (Amendment) Bill, 2020: Read how the bill will strengthen the co-operative banks [Bill Passed]
The Banking Regulation (Amendment) Bill, 2020 Which Act will the said bill amend? The Banking Regulation (Amendment) Bill, 2020 will amend the
CBDT | Charges collected on prescribed electronic modes asked to be refunded, if collected after 1st January, 2020
Central Board of Direct taxes notifies a clarification that the imposition of a charge on the prescribed electronic modes under Section 269