Tags : Universal bank, licence, continuous process
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RBI Revises Priority Sector Lending Norms for RRBs(04.12.2015)
Reserve Bank of India (RBI) has revised the priority sector lending target for Regional Rural Banks (RRBs) to 75% of total outstanding loans from 60% .....
Tags : Reserve Bank of India, Regional Rural Banks
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Payments Bank and Small Finance Banks- access to Call/Notice/Term Money Market(29.10.2018)
1. A reference is invited to Master Direction No.2/2016-17, dated July 7, 2016 on Money Market Instruments. A reference is also invited to the Guideli.....
Tags : Payments Bank, Small Finance Banks, Access
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RBI: No Restrictions on ATM Withdrawals From Feb 01(31.01.2017)
Reserve Bank of India (RBI) has said that limits on ATM withdrawals will further be eased from February 1 and curbs on branch withdrawals from current.....
Tags : Reserve Bank of India, ATM Withdrawals
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ITAT: Father Can’t be Taxed for Cash Deposit in Bank Account Opened in The Name of Major Son(25.07.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench while deleting an addition for cash deposit, has held that the clubbing of income under the provision.....
Tags : ITAT, Minor Children, Income-Tax, Bank Account
read»
NCLAT: Interest Free Security Deposit is an Operational Debt(28.04.2022)
National Company Law Appellate Tribunal has observed that an interest free security deposit towards advance license fee will qualifies as an operation.....
Tags : National Company Law Appellate Tribunal, interest free, security deposit, Insolvency & Bankruptcy Code, 2016
read»
Bombay HC Seeks RBI’s Response Over Inconsistencies in Demonetization Directives to Co-operative Bank(22.11.2016)
Bombay HC, while observing that prima facie there were some inconsistencies in two circulars issued by Reserve Bank to District Co-Operative Banks on .....
Tags : Bombay HC, Reserve Bank, Co-Operative Banks, demonetisation
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SEBI Fines ICICI Bank, Compliance Officer Rs 12 lakh for Disclosure Lapses(13.09.2019)
SEBI has levied a total fine of Rs 12 lakh on ICICI Bank Ltd and its compliance officer for disclosure lapses, including delayed disclosure of binding.....
Tags : SEBI, ICICI Bank
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RBI Issues Revised Guidelines For Commercial Papers(03.02.2017)
Reserve Bank of India (RBI) has issued revised guidelines for commercial papers, including mandating that the issuer must disclose end-use of such fun.....
Tags : Reserve Bank of India, commercial papers
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SC: Non Banking Cooperative Society Providing Credit to Members Eligible for Section 80P Deduction(15.09.2023)
Supreme Court has held that a co-operative society that is not a co-operative bank under Section 56 of Banking Regulation Act, 1949, then such society.....
Tags : Supreme Court, Cooperative Society, Banking, Deduction
read»
RBI Updates Norms of Fema(05.02.2016)
Reserve Bank of India (RBI), with an aim to promote ease of doing business, has come out with nine updated rules under the Foreign Exchange Management.....
Tags : Reserve Bank of India , oreign Exchange Management Act (Fema), 1999
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Insolvency and Bankruptcy Board of India Relaxes Norms for Information Utilities(06.10.2017)
Insolvency and Bankruptcy Board of India has relaxed norms for information utilities, paving way for Indian companies listed on the stock exchanges to.....
Tags : Insolvency and Bankruptcy Board of India, Information Utilities
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NCLAT: Territorial Jurisdiction Cannot be Taken Away by Agreement Between Parties(28.04.2022)
National Company Law Appellate Tribunal has observed that the territorial jurisdiction of NCLT to decide a case under the Insolvency and Bankruptcy Co.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, territorial jurisdiction
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RBI launches Survey on International Trade in Banking Services (ITBS): 2019-20(24.09.2020)
The Reserve Bank of India has launched the 2019-20 round of its annual Survey on International Trade in Banking Services (ITBS).
The survey,.....
Tags : Survey, International Trade, Banking Services
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RBI Allows Banks to Use Statutory Reserves for AT1 Bond Coupon Payment(03.02.2017)
Reserve Bank of India has allowed banks to use statutory reserves to pay coupon (interest) on additional Tier-I bonds, subject to certain riders.
Tags : Reserve Bank of India, Tier-I bonds
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RBI Permits Start-Ups to Open Currency Account Abroad(24.06.2016)
Reserve Bank of India (RBI) has allowed startups with an overseas subsidiary to open foreign currency accounts abroad to credit foreign exchange earni.....
Tags : Reserve Bank of India, startups
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SC: Bank Employees App. Under SC Quota Entitled to Retain Post After their Caste is De-scheduled(29.08.2024)
SC has held that person who joined service of a Nationalized Bank/GOI undertaking based on a certificate that identified him/her as belonging to SC/ST.....
Tags : Supreme Court, SC Quota, Nationalized Bank
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Supreme Court Denies Bank Peon Job for Overqualified Candidate(04.11.2020)
Supreme Court has upheld the cancellation of the candidature of a candidate by Punjab National Bank on the ground that he was overqualified for the po.....
Tags : Supreme Court, Bank Peon Job
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Delhi HC: Pendency of Insolvency Petition Is Not Bar to Appointment of Arbitrator(16.05.2022)
Delhi High Court has observed that the mere pendency of an insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 is not a ba.....
Tags : Delhi High Court, Section 9, Insolvency and Bankruptcy Code, 2016, Arbitrator
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Disclosure of bank’s business dissuades “window-dressing”, in public interest(28.06.2016)
“Any action that results in dissuading commercial entities from indulging in practices such as window-dressing would be in larger public interest”, th.....
Tags : rti, exemption, bank, business mix, public interest
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Madras HC: Banks Cannot Attach Savings Account Opened for Depositing Pension to Recover Loan(03.12.2015)
Madras High Court has held that Savings Bank Account maintained primarily for purpose of depositing monthly pension amount could not be attached by a .....
Tags : Madras High Court , Savings Bank Account
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Autonomy for Central Bank, within the Framework of the RBI Act, Is an Essential and Accepted Governance Requirement: Says Government(31.10.2018)
The autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement. Governments in India have.....
Tags : Autonomy, Central Bank, Governance
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Suryoday Small Finance Bank Limited commences operations(23.01.2017)
Suryoday Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issue.....
Tags : Finance Bank, Small, Operations
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RBI Imposes Fine on SBI for Failure to Comply with Fraud Classification Rules(19.10.2021)
Reserve Bank of India has slapped a fine of Rs 1 crore on State Bank of India for failing to comply with fraud classification rules. The regulator sai.....
Tags : Reserve Bank of India, State Bank of India
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SC: CBI to Conduct Preliminary Enquiries in ‘Builder-Banks’ Nexus(30.04.2025)
Supreme Court has directed the Central Bureau of Investigation to conduct preliminary enquiries into the National Capital Region’s nexus of builders a.....
Tags : Supreme Court, Preliminary Enquiries, ‘Builder-Banks’ Nexus
read»
Reserve Bank of India (Issue and Pricing of Shares by Private Sector Banks) Directions, 2016(21.04.2016)
The Reserve Bank of India issued Master Directions on the issue and pricing of shares by private sector banks. Under the provisions, pricing of shares.....
Tags : private bank, share issue, pricing
read»
RBI clarifies: No change in existing Currency and Banknotes(06.06.2022)
There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by rep.....
Tags : No change, Currency, Banknotes
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RBI Penalizes Fourteen Banks for Non-Compliance with Provisions on Lending to Non-bank Lenders(08.07.2021)
Reserve Bank of India has penalised fourteen banks including State Bank of India, Bank of Baroda, IndusInd Bank and Bandhan Bank for non-compliance wi.....
Tags : Reserve Bank of India, Non-Compliance with Provisions on Lending to Non-bank Lenders
read»
HP HC Upholds Guidelines by NABARD Regarding Appointment of Auditors for Cooperative Banks(26.06.2023)
Himachal Pradesh High Court has upheld guidelines issued by NABARD regarding the appointment of statutory auditors for Cooperative Banks and observed .....
Tags : Himachal Pradesh High Court, Guidelines, NABARD, Cooperative Banks
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RBI Relaxes Rules for ECBs(01.07.2016)
Reserve Bank of India (RBI) has said eased rules for External Commercial Borrowings (ECBs) and said that Indian companies will need to submit for appr.....
Tags : Reserve Bank of India, ECBs
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Lawyer Can Issue Demand Notice of Unpaid Operational Debt on Behalf of Operational Creditor: SC(18.12.2017)
Supreme Court has held that a lawyer on behalf of the operational creditor can issue a demand notice of an unpaid operational debt.The court also held.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
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RBI: Rs. 2000 Notes Withdrawn from Circulation; Will Continue as Legal Tender(22.05.2023)
Reserve Bank of India in pursuance of its Clean Note Policy has announced the withdrawal of Rs. 2000 banknotes from circulation. The notes to be conti.....
Tags : Reserve Bank of India, Clean Note Policy, Rs. 2000, Legal Tender
read»
RBI Eases LCR Norm(25.03.2016)
Reserve Bank of India (RBI) has given bankers more flexibility in maintenance of Liquidity Coverage Ratio (LCR) under Basel III by tweaking certain no.....
Tags : Reserve Bank of India, Liquidity Coverage Ratio
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RBI: Banks to Remain Closed on April 1(31.03.2017)
Reversing its earlier order, Reserve Bank (RBI) has said that the bank branches dealing in government businesses need not remain open on April 1 in vi.....
Tags : Reserve Bank of India, April 1
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Withdrawal of Specified Banknotes : Cash requirements of pensioners and Armed Forces Personnel(24.11.2016)
In view of the withdrawal of legal tender character of the Specified Banknotes (SBN) demand for cash is expected from Government officials and pension.....
Tags : Demand, Bank notes, Government officials
read»
SC: Appeal Under IBC is Valid Only if it is Initiated Within 30 days From Date of Order(17.05.2022)
Supreme Court has ruled that an appeal under the Insolvency and Bankruptcy Code, 2016 (IBC) is only acceptable if it is filed within 30 days from the .....
Tags : Supreme Court, Insolvency and Bankruptcy Code, 2016, 30 days, National Company Law Tribunal
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RBI Imposes Rs 1.75-Crore Penalty on Indian Bank for Non-Compliance(21.11.2019)
Reserve Bank of India has imposed a monetary penalty of a total of Rs 1.75 crore on Indian Bank for non-compliance with its various directions. The no.....
Tags : RBI, Indian Bank
read»
SC: Direction Can be Issued to Transfer Compensation to Bank Account of Claimants(19.03.2025)
SC has observed that the general practice followed by insurance companies, where compensation is not disputed, is to deposit it before the Tribunal. I.....
Tags : Supreme Court, Compensation, Bank Account
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Delhi HC Directs RBI to Reconsider Jindal Steel and Power Ltd Application(07.12.2020)
Delhi High Court has remanded to the Reserve Bank of India, an application by Jindal Steel and Power Ltd (JSPL) to transmit $300 million to its wholly.....
Tags : Delhi High Court, Reserve Bank of India, Jindal Steel and Power Ltd
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RBI Allows Financial Institutions to Conduct Business in Indian National Rupee in IFSC(20.01.2020)
Reserve Bank of India has allowed the Financial Institutions to conduct businesses in Indian National Rupees in International Financial Services Centr.....
Tags : Reserve Bank of India, Financial Institutions, Business in Indian National Rupee
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Supreme Court Notices Centre Over RBI's Refusal to Exchange Demonetised Notes(06.03.2017)
Supreme Court has issued a notice to Central Government on a plea challenging Reserve Bank of India’s (RBI) refusal to accept Rs 500 and Rs 1,000 note.....
Tags : Supreme Court, Demonetised Notes, Reserve Bank of India
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Notification regarding specified bank to mean a banking company which is a scheduled bank and has been appointed as an agent under Section 45 of Reserve Bank of India Act, 1934(02.09.2021)
In exercise of the powers conferred by clause (a) of Explanation to section 194P of the Income-tax Act, 1961 (43 of 1961), the Central Government here.....
Tags : Specified bank, Banking company, Notification
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NCLAT: In absence of privity of contract, application u/s 9 of IBC not maintainable(28.03.2025)
The National Company Law Appellate Tribunal (NCLAT) has observed that where there is no privity of contract or any sort of Debtor-Creditor relationshi.....
Tags : Privity of contract, Maintainability of application, Debtor-Creditor relationship, the Insolvency and Bankruptcy Code, 2016
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RBI Announces Rs 10,000 Crore OMO Purchases(05.02.2016)
Reserve Bank of India (RBI) has announced an Open Market Operation (OMO) purchase of government securities worth Rs 10,000 crore on February 8.
Tags : Reserve Bank of India , Open Market Operation
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Bombay HC Rejects Bail Application of YES Bank Promoter Rana Kapoor(08.02.2021)
Bombay High Court has rejected the bail application of YES Bank promoter Rana Kapoor, a prime accused in the Rs 5050 crore money laundering scam being.....
Tags : Bombay High Court, YES Bank Promoter Rana Kapoor
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SC Issues Notice to Union Government on Petitions Challenging Constitutionality of IBC Ordinance(14.01.2020)
Supreme Court has issued a notice to the Union Government on Petitions Challenging Constitutional Validity of Insolvency and Bankruptcy Code (Amendmen.....
Tags : Supreme Court, Insolvency and Bankruptcy Code Ordinance
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Reserve Bank of India to Lift All Charges on Fund Transfers via RTGS and NEFT from July 1(12.06.2019)
Reserve Bank of India has said that it will lift all charges on fund transfer through popular RTGS and NEFT systems from July 1, 2019 and asked banks .....
Tags : Reserve Bank of India, NEFT, RTGS
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Barabanki District Court Acquits Former AMU Scholar Gulzar Wani in Sabarmati Express Blast Case(22.05.2017)
Barabanki District Court has acquitted two accused in Sabarmati Express Blast Case of 2000.
Tags : Barabanki District Court, Sabarmati Express Blast Case
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Reserve Bank of India Penalizes HDFC Bank Rs 1 Crore for Failing Know Your Customer Norms(30.01.2020)
Reserve Bank of India has imposed a penalty of Rs 1 Crore on Housing Development Finance Corporation (HDFC) Bank for failing to comply with the Centra.....
Tags : Reserve Bank of India, HDFC, KYC Norms
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INSOLVENCY - NCLT Rejects Karur Vysya Bank’s Plea Against ArcelorMittal Plan for Essar Steel(08.03.2019)
National Company Law Tribunal has rejected Karur Vysya Bank’s plea to quash Rs 42,000-crore resolution plan of ArcelorMittal for distressed Essar Stee.....
Tags : NCLT, Essar Steel, Karur Vysya Bank
read»
SCDRC Directs Bank to Pay 1L Compensation For Failure to Inform Loan Applicant of Rejection(02.05.2017)
State Consumer Disputes Redressal Commission, Maharashtra has held that failure to inform an applicant about rejection of his loan application constit.....
Tags : State Consumer Disputes Redressal Commission, Loan, Bank
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Govt: Specified Notes Confiscated on or before 30.12.2016 Can be Deposited in Any RBI Branch(17.05.2017)
Govt has notified rules regarding deposit of Rs. 1000 and Rs. 500 Currency Notes confiscated on or before 30.12.2016 which makes it possible for enfor.....
Tags : Specified Bank Notes (Deposit of Confiscated Notes) Rules, 2017
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Supreme Court Rejects Plea of Axis Bank Against Release of Arbitral Award Money to Daiichi(14.12.2018)
Supreme Court has refused to entertain an Axis Bank plea opposing release of Rs 9.39 crore, which is part of Rs 3,500 crore awarded by a Singapore tri.....
Tags : Supreme Court, Axis Bank, Daiichi Sankyo
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RBI Relaxes Reporting Requirement of NEFT Transactions(18.03.2016)
Reserve Bank of India (RBI) has said it is discontinuing provision where banks had to submit data pertaining to NEFT (National Electronic Fund Transfe.....
Tags : Reserve Bank of India, NEFT Transactions
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Synchronising financial accounting year with calendar year(19.07.2016)
Union Minister of Finance, Aurn Jaitley, stated that a Committee to examine the desirability and feasibility of changing the financial year has been c.....
Tags : financial year, calendar year, nationalised banks, merger
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Yes Bank Case: Bombay HC Discharges DHFL(18.11.2021)
Bombay HC has discharged Dewan Housing Finance Corporation Ltd. (DHFL) and dropped the proceedings against it in a case of cheating and corruption reg.....
Tags : Bombay HC, Dewan Housing Finance Corporation Ltd., Yes Bank
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Distribution of Banknotes during November 10 to December 19, 2016(21.12.2016)
Consequent to the announcement of withdrawal of Legal Tender status of banknotes of Rs. 500 and Rs. 1000 denominations from the midnight of November 8.....
Tags : Bank Notes, Distribution
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RBI Notifies Rates for Small Saving Schemes for Q2(08.07.2016)
Reserve Bank of India (RBI) has notified the interest rates for different small savings schemes for the quarter ending September. The interest rates h.....
Tags : Reserve Bank of India, RBI, small savings schemes
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NCLT Approves Merger of Capital First with IDFC Bank(14.12.2018)
National Company Law Tribunal (NCLT) has approved the amalgamation of Capital First, Capital First Home Finance, and Capital First Securities with IDF.....
Tags : NCLT, IDFC Bank
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Government: Bank Deposits Before April 01, 2016 Can be Declared Under PMGKY(19.01.2017)
Govt has clarified that deposits in bank accounts made before 1 April 2016 can also be declared under Pradhan Mantri Garib Kalyan Yojana (PMGKY), the .....
Tags : Bank Deposits, Pradhan Mantri Garib Kalyan Yojana, income disclosure scheme
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RBI Imposes Penalty on 3 Banks in Forex Scam(26.07.2016)
Reserve Bank of India (RBI) has imposed penalties of Rs.5 crore on Bank of Baroda, Rs.3 crore on Punjab National Bank and Rs.2 crore on HDFC Bank, in .....
Tags : Reserve Bank of India, Forex Scam
read»
RBI imposes monetary penalty on Nagrik Sahakari Bank Maryadit, Durg, Chhattisgarh(16.11.2021)
The Reserve Bank of India (RBI) has imposed, by an order dated November 16, 2021, a monetary penalty of Rs. 2.00 lakh (Rupees Two lakh only) on Nagrik.....
Tags : Penalty, Imposition, Bank
read»
Reserve Bank of India Raises Investment Cap for FPIs in Corporate and Government Debt Instruments(24.01.2020)
Reserve Bank of India has raised the investment limit for foreign portfolio investors in Government and Corporate Bonds, in a bid to bring in more for.....
Tags : Reserve Bank of India, Investment Cap for Foreign Portfolio Investors
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RBI Refuses to Extend Deadline for PPIs to Complete Customer Verification(27.02.2018)
Reserve Bank of India (RBI) has refused to extend the 28 February deadline for prepaid payment instruments (PPIs) such as mobile wallets to complete k.....
Tags : Reserve Bank of India, prepaid payment instruments, know-your-customer
read»
Supreme Court: No Bar on Attachment of Properties through IBC Moratorium(16.05.2025)
Supreme Court has held that there is no prohibition imposed on attachment of properties under the Maharashtra Protection of Interest of Depositors Act.....
Tags : Supreme Court, Attachment of Properties, Insolvency & Bankruptcy
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RBI Relaxes Deposit Norms for Foreign Missions, Diplomats(06.05.2016)
Reserve Bank of India (RBI) has repealed and superseded regulations under the Foreign Exchange Management (Deposit) Regulations, 2000, in consultation.....
Tags : Reserve Bank of India , Foreign Exchange Management (Deposit) Regulations, 2000,
read»
RBI releases Primary (Urban) Co-operative Banks' Outlook 2015-2016(29.12.2016)
The Reserve Bank of India today released the third volume of the annual publication titled 'Primary (Urban) Co-operative Banks' Outlook 2015-16'. The .....
Tags : Co-operative Banks, Urban, Publication, Release
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Cancellation of licence to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act, 1949 - Rupee Co-operative Bank Ltd., Pune(02.11.2022)
1. The Reserve Bank of India, vide order No.DOR.MON.LC-04/12.22.218/2022-23 dated August 08, 2022, had cancelled the banking licence of Rupee Co-opera.....
Tags : Cancellation, licence, Banking business
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RBI Revises Rules for Resolution of Stressed MSME Loans(18.03.2016)
Reserve Bank of India (RBI) has revised rules pertaining to revival of advances to small businesses and asked lenders to form district-level committee.....
Tags : Reserve Bank of India , MSME
read»
SC: “Healthcare Services” in Service Tax Exemption Notification Includes Stem Cell Banking Services(17.07.2025)
Supreme Court has observed that “Healthcare Services” exempted from service tax as per the notifications issued by the Ministry of Finance shall inclu.....
Tags : Supreme Court, Healthcare Services, Stem Cell Banking
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Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 to Millath Co-operative Bank Limited(08.11.2021)
1. The Reserve Bank of India issued All Inclusive Directions to Millath Co-operative Bank Limited, Davangere, Karnataka under Section 35 A read with S.....
Tags : Directions, Banking Regulation Act
read»
Supreme Court Hints at Directing CBI Probe into Builder-Banks Nexus(06.03.2025)
Supreme Court has hinted at directing a CBI probe into a builder-banks nexus and expressed that some real estate companies and banks which sanction lo.....
Tags : Supreme Court, CBI Probe, Builder-Banks Nexus
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ITAT, Mumbai: Data Processing Cost Paid by KBC Bank Branch to Head Office Isn’t Royalty(04.12.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has upheld the order passed by CIT(A) holding that the Data Processing Cost paid by the KBC Bank Branch t.....
Tags : Income Tax Appellate Tribunal, KBC Bank Branch
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COMPANY - NCLAT Slams RCom's Lender SBI over Rs. 37,000 Crore Asset Sale(12.03.2019)
National Company Law Appellate Tribunal has slammed lenders of Reliance Communications, State Bank of India, for painting a rosy picture of Anil Amban.....
Tags : NCLAT, State Bank of India, Reliance Communication
read»
RBI regional offices entrusted UCB fraud monitoring and reporting duties(19.05.2016)
The Reserve Bank of India notified a revised fraud monitoring and reporting mechanism for Primary (Urban) Co-operative Banks.
Under the new.....
Tags : Co-operative bank, fraud, reporting, monitoring
read»
Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions, 2021(25.08.2021)
1. The Reserve Bank of India has, from time to time, issued several guidelines/instructions/directives to the banks on Prudential Norms for Classifica.....
Tags : Master Directions, Investment Portfolio by Banks
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Bombay HC Sets Aside Goods and Services Tax Authority's Order on Power to Attach Bank Accounts(23.01.2020)
Bombay High Court has quashed and set aside an order by the Directorate General of Goods and Services Tax Intelligence holding that the said order of .....
Tags : Bombay High Court, Power to Attach Bank Accounts
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SC: Courts Should Refrain from Interfering With Invocation of Bank Guarantee Except in Cases of Fraud(08.05.2025)
Supreme Court has observed that it is well established that Courts should refrain from interfering with the invocation of a bank guarantee except in c.....
Tags : Supreme Court, Bank Guarantee, Fraud
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SC Asks SIT to Look into BoB Scam(27.04.2016)
Supreme Court has directed Special Investigation Team (SIT) on black money to look into a fresh plea seeking a probe into the recent Bank of Baroda (B.....
Tags : Supreme Court , Bank of Baroda
read»
Supreme Court Upholds Sections 3, 4 & 10 of IBC Amendment Act 2020(20.01.2021)
Supreme Court has upheld the constitutional validity of Sections 3, 4 and 10 of the Insolvency and Bankruptcy Code (Amendment) Act 2020.
Tags : Supreme Court, Insolvency and Bankruptcy Code (Amendment) Act 2020
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RBI Allows IFSCs Bank Branches to Open Foreign Currency Current Accounts(08.01.2016)
Reserve Bank of India (RBI) has permitted bank branches at International Financial Services Centres (IFSCs) to open foreign currency current accounts .....
Tags : Reserve Bank of India , International Financial Services Centres
read»
Delhi HC Issues Notice in Plea Seeking Direction to PMC Bank to Allow Withdrawals(21.07.2020)
Delhi High Court has issued notice in a plea seeking a direction to be issued to the Punjab & Maharashtra Cooperative Bank to allow its depositors to .....
Tags : Delhi High Court, Punjab & Maharashtra Cooperative Bank
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Delhi High Court Issues Notice in Plea Challenging IBC Ordinance(30.07.2020)
Delhi High Court has issued notice to the Ministry of Law and Justice and Insolvency and Bankruptcy Board of India in a plea challenging the validity .....
Tags : Delhi High Court, Insolvency and Bankruptcy Code Ordinance, 2020
read»
RBI Tightens Provisions for Yet to Fail CDR Accounts(12.01.2016)
Reserve Bank of India (RBI) has asked lenders to increase provisioning for accounts that may not have yet failed Corporate Debt Restructuring (CDR) bu.....
Tags : Reserve Bank of India, Corporate Debt Restructuring
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Calcutta HC Restrains Special Audit of Bank Headed by BJP MLA Suvendu Adhikari(19.07.2021)
Calcutta High Court has held that the West Bengal government's Co-operative Department shall not conduct a special audit of the Contai Cooperative Ban.....
Tags : Calcutta High Court, Special Audit of Bank Headed by BJP MLA Suvendu Adhikari
read»
NCLAT: Salary Incrementation is Valid by Employment Agreement or Board Resolution(16.05.2022)
National Company Law Appellate Tribunal, (NCLAT) has observed that salary incrementation is valid only by an employment agreement or board resolution .....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, Section 9
read»
Reserve Bank of India imposes monetary penalty on SBM Bank (India) Ltd(16.10.2019)
The Reserve Bank of India (RBI) has, by an order dated October 15, 2019, imposed a monetary penalty of Rs. 3 crore on SBM Bank (India) Ltd. for non-co.....
Tags : Penalty, Imposition, SBM Bank
read»
Supreme Court Directs Centre to List Out Measures Taken to Ease Inconvenience of Rural People(05.12.2016)
Supreme Court has asked Centre to spell out measures taken to ease sufferings and inconvenience of people in rural areas, who are mostly dependent on .....
Tags : Supreme Court, demonetisation, Co-operative banks
read»
Maintenance of Escrow Account with a Scheduled Commercial Bank(17.11.2020)
1. A reference is invited to the instructions issued by Reserve Bank of India vide (a) DPSS.CO.PD.No.1164/02.14.006/2017-18 dated October 11, 2017 (up.....
Tags : Maintenance, Escrow Account, Scheduled Commercial Bank
read»
SC: Protection U/S 197 CrPC Not Available to Nationalised Bank Employee(09.08.2023)
Supreme Court has held that although a person working in a Nationalised Bank is a public servant, yet the provisions of Section 197 CrPC wouldn’t be a.....
Tags : Supreme Court, Nationalised Bank Employee, Public Servant, Section 197 CrPC
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Calcutta HC: Application to Set Aside Arbitral Award Cannot Be Put on Hold Due to Invocation of IBC(20.01.2020)
Calcutta High Court has stated that an application to set aside an arbitral award under the Arbitration and Conciliation Act, 1996 cannot be kept in a.....
Tags : Calcutta High Court, Set Aside of Arbitral Award, Insolvency and Bankruptcy Code Provisions
read»
RBI Eases Bad Loan Classification Norms For Small Borrowers, Farmers(29.12.2016)
Reserve Bank of India (RBI) has relaxed norms for bad loan classification for small borrowers, including farmers, giving them additional 30 days to re.....
Tags : Reserve Bank of India, loan, repayment, Small Borrowers
read»
SEBI Allows Payments Banks to Carry Out Activities of Investment Bankers(04.08.2021)
Securities and Exchange Board of India has allowed payments banks to carry out the activities of investment bankers to provide easy access to investor.....
Tags : Securities and Exchange Board of India, Activities of Investment Bankers
read»
Sectoral Deployment of Bank Credit - August 2023(28.09.2023)
Data on sectoral deployment of bank credit for the month of August 20231 collected from 40 select scheduled commercial banks, accounting for about 93 .....
Tags : Sectoral Deployment, Bank Credit, Highlights
read»
RBI Bans Investments in ‘Non-cooperative Countries’(27.01.2017)
Reserve Bank of India (RBI) has prohibited Indian entities from making direct investments in any entity located in 'non co-operative countries and ter.....
Tags : Reserve Bank of India, Non-cooperative Countries, investments
read»
Award Scheme For Outstanding Writings In The Field Of Banking Hindi Declaration Of Result For The Year 2015-16(17.04.2017)
Reserve Bank of India had invited entries under the captioned scheme vide press release dated 14 July 2016. On evaluation of the entries received, it .....
Tags : Scheme, Award, Banking hindi
read»
RBI Issues Shareholding Norms for Private Sector Banks(13.05.2016)
Reserve Bank of India (RBI) has issued new guidelines on ownership in private sector banks by bundling shareholding patterns into two broad categories.....
Tags : Reserve Bank of India, Private Sector Banks
read»
Law to check scams in Banks(18.12.2018)
The Government has initiated formulation of laws to secure prudential banking and help effect a culture of credit discipline, including, inter alia, i.....
Tags : Scams, Banks, Law
read»
Allahabad HC: Provisional Attachment of Bank Accounts not Allowed Solely on GST Show Cause Notice(26.09.2025)
Allahabad High Court held that provisional attachment of bank accounts cannot be made solely based on the issuance of a show cause notice under Sectio.....
Tags : Attachment, Bank Accounts, GST, Show Cause Notice
read»
Karnataka HC to Hear Challenge to Promotion and Regulation of Online Gaming Act 2025(28.08.2025)
Karnataka High Court is set to hear a plea by an online gaming company challenging the Promotion and Regulation of Online Gaming Act, 2025 which seeks.....
Tags : Karnataka High Court, Online Gaming Company, Bank Services
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INSOLVENCY - NCLT Admits ICICI Bank's Insolvency Plea Against Punj Lloyd(11.03.2019)
National Company Law Tribunal (NCLT) has admitted an insolvency plea against Punj Lloyd filed by ICICI Bank Ltd. for a default of Rs. 853.83 crore.
Tags : NCLT, Punj Lloyd, ICICI Bank
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RBI Eases Norms on FDI in CICs(20.05.2016)
Reserve Bank of India (RBI) has eased norms around Foreign Direct Investment (FDI) in credit information companies (CICs) in India.
Tags : Reserve Bank of India, FDI
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Madras HC Directs Indian Bank to Return to Channai Port Trust Amount Following Fraudulent Transaction(25.08.2021)
Madras High Court has directed Indian Bank, Koyambedu branch, to return to Chennai Port Trust (CPT) Rs. 55.19 crore out of Rs. 100.57 crore that had g.....
Tags : Madras High Court, Indian Bank
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NCLAT: DRT Recovery Time Counts under Limitation Act Section 14(08.10.2025)
NCLAT ruled that Section 14 of the Limitation Act does not apply to creditors who started recovery proceedings before the Debt Recovery Tribunal under.....
Tags : Recovery of Debt and Bankruptcy Act, Limitation, Debt Recovery Tribunal
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Orissa HC: Directors Liable under S.138 NI Act Despite Company’s Insolvency(16.10.2025)
Orissa High Court held that company directors cannot escape liability for cheque dishonour under Section 138 of the Negotiable Instruments Act, 1881 m.....
Tags : Negotiable Instruments Act, Insolvency and Bankruptcy Code, Cheque Dishonour
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SC: SARFAESI Doesn’t Give Any License to Bank Officers to Act Against the Scheme of Law(22.09.2023)
Supreme Court while observing that SARFAESI Act was enacted for speedy recovery and for benefitting the public at large, has held that it does not giv.....
Tags : Supreme Court, SARFAESI Act, Bank Officers
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Sectoral Deployment of Bank Credit(31.10.2019)
Data on sectoral deployment of bank credit collected from select 39 scheduled commercial banks, accounting for about 90 per cent of the total non-food.....
Tags : Sectoral Deployment, Bank Credit, Data
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Withdrawal of old series banknotes issued prior to 2005 deferred(11.02.2016)
The Reserve Bank of India extended the deadline for exchanging pre-2005 banknotes to 30 June, 2016. Exchange on banknotes in 2016 will only be done at.....
Tags : Rbi, banknotes, pre-2005, deadline, extend
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SC Stays NCLAT Order That Said Limitation Act Doesn’t Apply To Proceedings Under IBC(11.01.2018)
Supreme Court has stayed the order of the National Company Law Appellate Tribunal which said the provisions of the Limitation Act were not applicable .....
Tags : Supreme Court, Insolvency and Bankruptcy Code
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Timeframe for implementation of Ind AS for scheduled commercial banks(11.02.2016)
The Reserve Bank of India notified scheduled commercial banks are required to comply with Indian Accounting Standards (Ind AS) for accounting periods .....
Tags : Indian accounting standards, commercial banks, implementation
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SC: Bank Officers Dealing in Public Money to be Vigilant(09.02.2021)
Supreme Court has said bank officers dealing in public money need to be vigilant and any deviation from the procedural guidelines for disbursing loans.....
Tags : Supreme Court, Bank Officers Dealing in Public Money
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Reserve Bank of India Lifts Restrictions on Catholic Syrian Bank on Opening Branches(15.01.2020)
Reserve Bank of India has lifted a restriction that was imposed on the Catholic Syrian Bank for opening new branches, given the delayed initial public.....
Tags : Reserve Bank of India, Catholic Syrian Bank
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Meghalaya High Court: Indiscipline by Bankers Cannot be Overlooked(13.06.2019)
Meghalaya High Court has observed that indiscipline by bankers cannot be overlooked as they deal with public money. The Court held that "No organisati.....
Tags : Meghalaya High Court, Bankers
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NCLAT: 14 Days Timeline to Admit or Reject Case Under IBC a 'Mere Directive'(22.05.2017)
National Company Law Appellate Tribunal (NCLAT) has said that 14-day timeline for rejecting or admitting a case under Insolvency and Bankruptcy Code (.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
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RBI Capped Withdrawal From Jan Dhan Accounts to Rs. 10000 Per Month(30.11.2016)
Reserve Bank of India (RBI) has issued a notification saying that Jan Dhan Account Holders will be allowed to withdraw only Rs 10,000 a month, as a te.....
Tags : Reserve Bank of India, Jan Dhan Account, money laundering, withdraw
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Extending value-added services through ATMs(23.03.2016)
The Reserve Bank of India has permitted Primary (Urban) Co-operative Banks and State Co-operative Banks to offer all their products and services throu.....
Tags : Atm, value added services, co-operative bank
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Bombay High Court Rejects PMC Bank Depositors' Plea for Lifting Withdrawal Cap(06.12.2019)
Bombay High Court has rejected pleas of the depositors of the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank, seeking lifting of restriction.....
Tags : Bombay High Court, PMC Bank
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SC: Filing of Cheque Dishonour Complaint to be at Place of Payee Bank(07.03.2025)
Supreme Court has observed that a complaint of cheque dishonor under Section 138 of the Negotiable Instruments Act, 1881 should be filed in the Court .....
Tags : Supreme Court, Cheque Dishonour, Payee Bank
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Delhi HC Directs RBI to Reconsider Jindal Steel and Power Ltd Application(07.12.2020)
Delhi High Court has remanded to the Reserve Bank of India, an application by Jindal Steel and Power Ltd (JSPL) to transmit $300 million to its wholly.....
Tags : Delhi High Court, Reserve Bank of India, Jindal Steel and Power Ltd
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BANKING - Bombay HC Refuses Interim Relief to Kotak Mahindra Bank on Promoter Stake Issue(13.03.2019)
Bombay High Court has refused to grant any interim relief to Kotak Mahindra Bank on Reserve Bank of India’s direction to dilute promoter shareholding .....
Tags : Bombay High Court, Kotak Mahindra Bank, Reserve Bank of India
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Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)
National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....
Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code
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RBI Issues New Guidelines Over Private Bank CEO Remuneration(05.11.2019)
Reserve Bank of India has told private banks to raise the variable portion of remuneration to at least half of the total for their chief executives a.....
Tags : RBI, Private Bank CEO
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Issue of Rs. 20 banknotes without inset letter and intaglio printing(29.12.2016)
The Reserve Bank of India will shortly issue Rs. 20 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number .....
Tags : Rs. 20 banknotes, Issuance, Without inset letter
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National Bank for Financing Infrastructure and Development (Removal of Difficulties) Order, 2021(01.12.2021)
In exercise of the powers conferred by sub-section (1) of section 46 of the National Bank for Financing Infrastructure and Development Act, 2021 (17 o.....
Tags : National Bank, Financing Infrastructure, Order, 2021
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CIC: Husband Not Entitled to Seek Information Regarding Bank Details & ITR of His Wife(25.01.2021)
Central Information Commission has said that a husband is not entitled to seek information regarding bank details & income tax returns of his wife und.....
Tags : Central Information Commission, Bank Details and ITR of Wife
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RBI Allows Banks to Extend Non-Fund Based Credit(08.01.2016)
Reserve Bank of India (RBI) has allowed banks to extend non-fund based credit, not the usual form of normal loans and thereby lifted the old age ban.
Tags : Reserve Bank of India, non-fund based credit
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MP HC Imposes Rs. 2 Lakh Exemplary Cost on SBI for 'Inhuman Approach'(29.07.2021)
Madhya Pradesh High Court has imposed exemplary cost of Rs. 2 lakhs on the State Bank of India (SBI) for adopting a very 'inhuman approach' while deal.....
Tags : Madhya Pradesh High Court, Cost on State Bank of India
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DGFT: Importer Not Required to Furnish Quarterly Returns for Import of Water-Mark Bank Note Paper(14.07.2021)
Director-General of Foreign Trade (DGFT) has notified that the importer is no longer required to furnish quarterly returns for import of Water-mark Ba.....
Tags : Director General of Foreign Trade, Import of Water-Mark Bank Note Paper
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Bombay HC Slams RBI For Not Exchanging Old Notes in Deceased’s Locker(03.02.2017)
Bombay High Court came down heavily on Reserve Bank of India (RBI) for not complying with its order to change demonetised currency notes totalling Rs .....
Tags : Bombay High Court , Reserve Bank of India
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Gujarat HC: Yes Bank is a Private Entity And Not Amenable to Writ Jurisdiction(28.07.2022)
Gujarat High Court has held that 30% shareholding of State Bank of India (SBI) cannot make Yes Bank a State under Article 12 of Constitution, and ther.....
Tags : Gujarat High Court, Yes Bank, Writ Jurisdiction, State
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Reserve Bank of India Issues Directions for Permitting Rupee Derivatives to be Traded in IFSCs(24.01.2020)
Reserve Bank of India has released directions under Section 45 W of the Reserve Bank of India Act, 1934 permitting Rupee derivatives to be traded in I.....
Tags : Reserve Bank of India, Trading of Rupee Derivatives in IFSCs
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RBI Imposes Penalty on Equitas for Selling MF, Insurance Products Without Approval(09.03.2018)
Reserve Bank of India (RBI) has imposed a penalty of Rs 10 lakh on Equitas Small Finance Bank for distributing mutual fund (MF), insurance and wealth .....
Tags : Reserve Bank of India, Equitas Small Finance Bank
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Lok Sabha Passes Bankruptcy Bill(06.05.2016)
Lok Sabha has passed the Insolvency and Bankruptcy code 2016 with all the amendments proposed by the joint committee of Parliament being accepted by t.....
Tags : Lok Sabha , Bankruptcy Bill
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RBI Relaxes Stressed Asset Restructuring Rules for Banks(14.06.2016)
Reserve Bank of India (RBI) has relaxed guidelines for restructuring of large stressed assets by lenders in a move that would allow the banks to more .....
Tags : Reserve Bank of India , Asset Restructuring Rules
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Central Government hereby declares the services in the Bank Note Paper Mill India Private Limited, Mysore, Karnataka to be a public utility service for the purposes of Industrial Disputes Act, 1947(11.02.2021)
Whereas the Central Government is satisfied that the public interest so requires that the services in the Bank Note Paper Mill India Private Limited, .....
Tags : Bank Note Paper Mill, Public utility, Industrial Disputes Act
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Securities Appellate Tribunal Grants Interim Relief to Axis Bank(16.01.2020)
Securities Appellate Tribunal has granted interim relief to Axis Bank in the Appeal seeking status quo on the Order passed by the Securities and Excha.....
Tags : Securities Appellate Tribunal, Axis Bank, Karvy Stock Broking Case
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RBI Issues 17 Master Directions Related to FEMA(05.01.2016)
Reserve Bank of India (RBI) has issued 17 Master Directions covering foreign exchange transactions on various regulatory issues in order to simplify .....
Tags : Reserve Bank of India, Master Directions
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RBI Rejects EC Request to Enhance Withdrawal Limits For Poll Candidates(30.01.2017)
Reserve Bank of India (RBI) has rejected request of Election Commission (EC) to enhance weekly cash-withdrawal limit, imposed after demonetisation, fo.....
Tags : Reserve Bank of India, Election Commission
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Bombay High Court Refuses to Stay RBI Scheme for Lakshmi Vilas Bank Merger with DBS Bank(27.11.2020)
Bombay High Court has rejected a prayer for ad-interim stay on Reserve Bank of India's amalgamation scheme for the merger of Lakshmi Vilas Bank with t.....
Tags : Bombay High Court, Lakshmi Vilas Bank Merger with DBS Bank
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Securities Appellate Tribunal Maintains Status Quo in Axis- Karvy Case(22.01.2020)
Securities Appellate Tribunal has extended its status quo order in the case of Axis Bank and Karvy Stock Broking till January 31.
Tags : Securities Appellate Tribunal, Axis Bank, Karvy Stock Broking Case
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Delhi HC Grants One More Day to RBI For Finalizing Stand on Tata-Docomo Arbitration Award(15.03.2017)
Delhi High Court has allowed Reserve Bank of India (RBI) a further day to finalise its stand on enforcement of $ 1.18 billion Tata Sons-NTT DoCoMo arb.....
Tags : Delhi High Court , Reserve Bank of India, Tata Sons-NTT DoCoMo
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SC: Courts Should Refrain from Interfering With Invocation of Bank Guarantee Except in Cases of Fraud(08.05.2025)
Supreme Court has observed that it is well established that Courts should refrain from interfering with the invocation of a bank guarantee except in c.....
Tags : Supreme Court, Bank Guarantee, Fraud
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Reserve Bank of India (Amalgamation of Private Sector Banks) Directions, 2016(21.04.2016)
The Reserve Bank of India notified Master Directions regarding amalgamation of two banking companies or of a banking company and an NBFC. For both, am.....
Tags : amalgamation, private banks, nbfc
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India Signs Financing Agreement with World Bank for US$ 48 Million for "Nagaland Health Project"(16.01.2017)
A financing agreement for IDA credit of US$ 48 million (equivalent) for the 'Nagaland Health Project' was signed with the World Bank here today. The F.....
Tags : World Bank, Financing, Health project, Nagaland
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Bombay HC Issues Contempt Notice to RBI Regional Director(27.07.2016)
Bombay HC has issued contempt notice to Reserve Bank of India's (RBI) Regional Director in a contempt plea filed by Akhil Bharatiya Adivasi Karmachari.....
Tags : Bombay HC , Akhil Bharatiya Adivasi Karmachari Sanghatna, Reserve Bank of India
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RBI Keeps Repo Rate Unchanged at 6%, Raises Inflation Forecast for Next Two Quarters(06.12.2017)
Reserve Bank of India (RBI) has kept repo rate unchanged at 6 percent. The inflation forecast for the next two quarters has been increased from 4.2 - .....
Tags : Reserve Bank of India
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ITAT: Deduction of Compensation for Breach of Contract Can’t be Allowed Based Only on Bank Statement(13.07.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that deduction of compensation paid for breach of contract cannot be allowed based on bank s.....
Tags : ITAT, Contract, Bank Statement
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SC to Bank: ‘You Don't Go After Big Fish, But You Harass Poor Farmers’(17.05.2022)
Supreme Court has pulled up the Bank of Maharashtra for challenging an order of the Madhya Pradesh High Court directing it to accept the One Time Sett.....
Tags : Supreme Court, Bank of Maharashtra, One Time Settlement, Madhya Pradesh High Court
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MP HC: Charge of Bank on Leasehold Plot Mortgaged as Security Towards Loan to Have Priority(05.11.2020)
Madhya Pradesh High Court has held that a charge of Bank on the leasehold plot mortgaged as security towards loan will have priority over other charge.....
Tags : Madhya Pradesh High Court, Charge of Bank on Leasehold Plot
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India signs 200 million US Dollar Loan Deal with World Bank for National Nutrition Mission (POSHAN Abhiyaan) for 315 districts across all states/UTs(07.05.2018)
The Government of India signed a loan deal worth $ 200 million with the World Bank today for the National Nutrition Mission (POSHAN Abhiyaan). The loa.....
Tags : Loan Deal, World Bank, POSHAN Abhiyaan
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RBI Relaxes ECB Norms for Infrastructure Sector(31.03.2016)
Reserve Bank of India (RBI) has allowed all companies engaged in infrastructure sector to raise external commercial borrowings with a minimum maturity.....
Tags : Reserve Bank of India, ECB Norms
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Karnataka High Court Summons Vijay Mallya in Contempt Case(05.12.2016)
Karnataka High Court has ordered Businessman Vijay Mallya to appear before Court on 19 January for charges to be framed in a contempt case filed by pu.....
Tags : Karnataka High Court, Vijay Mallya, State Bank of India
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Order of moratorium in respect of the Lakshmi Vilas Bank Limited(17.11.2020)
1. In exercise of the powers conferred by sub-section (2) of section 45 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government, afte.....
Tags : Moratorium, Lakshmi Vilas bank, Proceedings
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Del. HC: Department Can't Hold Compliance once Court Orders Release of Bank Guarantee by Trader(24.01.2025)
Delhi High Court has observed that once the Court has ordered release of the bank guarantee furnished by a trader, Customs Department cannot hold back.....
Tags : Delhi High Court, Bank Guarantee, Customs Department
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NCLAT Stays NCLT’s Order Prohibiting Appointment of Ex- Bankers as Resolution Professional(21.01.2020)
National Company Law Appellate Tribunal has stayed National Company Law Tribunal’s Order which prohibited appointing a former bank official as indepen.....
Tags : National Company Law Appellate Tribunal, Appointment of Ex- Bankers
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Reserve Bank of India Lifts All Limit on Cash Withdrawals(14.03.2017)
Reserve Bank of India has lifted all limits on cash withdrawals from banks and ATMs.
Tags : Reserve Bank of India, cash withdrawals
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Sectoral Deployment of Bank Credit - July 2023(31.08.2023)
Data on sectoral deployment of bank credit for the month of July 20231 collected from 40 select scheduled commercial banks, accounting for about 93 pe.....
Tags : Sectoral Deployment, Bank Credit, July 2023
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UBS AG no longer a banking company(19.05.2016)
The Reserve Bank of India notified USB AG, the Swiss multinational financial services firm, to have ceased being a ‘banking company’ under the Banking.....
Tags : Ubs, swiss, banking company, banking act
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Madhya Pradesh High Court Stays RBI Circular on Urban Cooperative Banks(06.09.2021)
Madhya Pradesh High Court has stayed a circular issued by the Reserve Bank of India (RBI) on June 25 which laid down several conditions related to Urb.....
Tags : Madhya Pradesh High Court, RBI Circular on Urban Cooperative Banks
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Secured Creditors' Dues Take Priority Over Govt Claims: Allahabad HC on SARFAESI & RDB Acts(17.10.2025)
Allahabad High Court held that under Section 26-E of the SARFAESI Act, 2002 and Section 31B of the Recovery of Debts and Bankruptcy Act, 1993, the due.....
Tags : Recovery of Debts and Bankruptcy Act, Secured Creditors, Government
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Banks must offer Wealth Management Services through subsidiary(21.04.2016)
The Reserve Bank of India clarified that banks cannot provide Investment Advisory Services (better known as ‘Wealth Management Services’) to its custo.....
Tags : investment advisors, banks, separation
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Lakshmi Vilas Bank Ltd branches to operate as DBS Bank India Ltd. branches from November 27, 2020(25.11.2020)
The Government of India has today sanctioned the Scheme for the amalgamation of the Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd. The amalgamation .....
Tags : Lakshmi Vilas Bank, Scheme, Amalgamation
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BANKING - SC Stays Bombay HC Order Directing Federal Bank to Pay Rs. 4 cr to Harshad Mehta's Wife(12.03.2019)
Supreme Court has stayed order of Bombay High Court that directed Federal Bank to pay Rs. 4 crore with 18 per cent interest from 1992 to the wife of l.....
Tags : Supreme Court, Federal Bank, Harshad Mehta
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IT dues payable in advance at authorised bank branches(16.05.2016)
Advance income tax can be paid at authorised banks instead of just with the Reserve Bank of India. Of the 29 banks authorised to acceptance tax remitt.....
Tags : Income tax, advance, authorised banks
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NCLAT: ED Cannot Keep Attached Assets After Resolution Plan Approval(16.10.2025)
NCLAT held that asset attachments by the Enforcement Directorate under Prevention of Money Laundering Act (PMLA) cease once a resolution plan is appro.....
Tags : Enforcement Directorate, Prevention of Money Laundering Act, Insolvency and Bankruptcy Code
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RBI Permits Banks to Adjust Excess Pension(18.03.2016)
Reserve Bank of India (RBI) has allowed banks to adjust excess or wrongful payments to pensioners with their accounts. In case the entire amount could.....
Tags : Reserve Bank of India , Pension
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Delhi High Court Refuses To Issue Form ‘F’ To HDFC Bank Due To Default In Paying Central Sales Tax(17.11.2021)
In a major setback to the HDFC Bank, the Delhi High Court has refused to issue Form ‘F’ in respect of inter-state stock transfers due to default in pa.....
Tags : Delhi HC, HDFC Bank, Form F
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RBI Relaxes Deposits Norm of More Than Rs 5,000 in Old Denominations For KYC A/Cs(21.12.2016)
Reserve Bank of India has relaxed its notification, specifying that deposits of over 5000 rupees could be made only after furnishing a satisfactory re.....
Tags : Reserve Bank of India, Old Denominations, Deposits, KYC A/Cs, demonetisation
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IBBI Amends its Regulations on Information Utilities(20.06.2022)
Insolvency and Bankruptcy Board of India (IBBI) has introduced second round of amendments to the Insolvency and Bankruptcy Board of India (Information.....
Tags : Insolvency and Bankruptcy Board of India, Amendments
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Allahabad HC: Non-Reporting of Seizure of Bank Account to Magistrate Doesn't Make Seizure Illegal(06.06.2022)
Allahabad High Court has observed that non-reporting of the seizure of a bank account, seized by police under Section 102 Code of Criminal Procedure, .....
Tags : Allahabad High Court, bank account, Illegal
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RBI Allows Bank to Offer Lower Rate on Matured Fixed Deposits(06.07.2021)
Reserve Bank of India has allowed banks to offer the lower of either the savings deposit rate or fixed deposit rate on matured Fixed Deposits in a bid.....
Tags : Reserve Bank of India, Rate on Matured Fixed Deposits
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Government Extends Aadhaar-Bank A/C Linking Deadline to March 31, 2018(14.12.2017)
Government has decided to notify 31st March, 2018 or six months from the date of commencement of bank account based relationship by the client, whiche.....
Tags : Aadhaar, Bank
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RBI Issues Norms for PDs in Exchange-Traded Currency Futures(18.03.2016)
Reserve Bank of India (RBI) has issued guidelines permitting standalone Primary Dealers (PDs) to participate in exchange-traded currency futures on ap.....
Tags : Reserve Bank of India , Primary Dealers, Currency Futures
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NCLAT: Single WhatsApp Message Sent Long Ago Can't Become Foundation to Reject Petition U/S 9 of IBC(07.07.2025)
National Company Law Appellate Tribunal has held that a single WhatsApp message sent long ago, without any reference to any specific invoice or the am.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, Section 9
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Supreme Court Bars Lenders from Making Claims in Arbitration Tribunals(25.01.2021)
Supreme Court has barred banks and financial institutions from making a claim in an arbitration tribunal to recover their money stating that holding t.....
Tags : Supreme Court, Claims of Banks and Financial Institutions
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RBI Says ‘Banks Can Accept Coloured Notes’ Appeals to Avoid Dirtying Them(10.03.2017)
Reserve Bank of India has clarified that banks can accept colour-stained notes amid messages circulating on WhatsApp that public sector banks have bee.....
Tags : Reserve Bank of India, Coloured Notes
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SC: Consumer Complaint Against Bank Maintainable Over Dispute on Encashment of FD(23.08.2022)
Supreme Court has held that consumer complaint in a dispute regarding premature encashment of Joint Fixed Deposit by bank in contravention of terms an.....
Tags : Supreme Court, Consumer Complaint, Bank
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RBI to issue of Rs. 100 banknotes with inset letter 'L'(20.04.2016)
The Reserve Bank of India continued its trend of “ascending size of numerals” on bank notes with changes to Rs. 100 currency notes. The notes will be .....
Tags : rbi, banknotes, 100
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SC Recalls Order for Promotion Quota in Banks(11.01.2016)
Supreme Court has recalled its direction to grant quota in promotions to SC/ST employees in higher grade posts in public sector banks, and left it to .....
Tags : Supreme Court, quota in promotions to SC/ST employees , public sector banks
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IBBI Clarifies Disciplinary Committee May Impose Monetary Penalty(30.07.2021)
Insolvency and Bankruptcy Board of India (IBBI) has issued a circular wherein it was clarified that the Disciplinary Committee of an Insolvency Profes.....
Tags : Insolvency and Bankruptcy Board of India, Disciplinary Committee, Monetary Penalty
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RBI Imposes Restrictions on Mastercard from On-Boarding New Customers in India from July 22(15.07.2021)
Reserve Bank of India (RBI) while taking supervisory action on Mastercard Asia / Pacific Pte. Ltd. has imposed the restrictions on Mastercard from On-.....
Tags : Reserve Bank of India, Restrictions on Mastercard from On-Boarding New Customers
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RBI dispels rumour on non-acceptance of scribbled-on currency(14.12.2015)
The Reserve Bank of India issued a clarificatory statement to dispel rumours in social media that banks will not accept currency notes which have been.....
Tags : Bank note, scribble, tender, rumour
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RBI Sets Rupee Reference Rate against US Dollar and Euro(08.07.2016)
Reserve Bank of India (RBI) has fixed reference rate of the rupee at 67.4972 against the US dollar and 74.8274 for the euro.
Tags : Reserve Bank of India, RBI, reference rate
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Bombay HC Refuses to Stay RBI Deadline to Kotak Mahindra Bank to Dilute Promoter Stake(18.12.2018)
Bombay High Court has refused to stay the Reserve Bank of India’s deadline of December 31 for dilution of promoter stake in Kotak Mahindra Bank.
Tags : Bombay High Court, Kotak Mahindra Bank
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PMGKD Scheme Amended to Exclude Co-operative Banks From Accepting Deposits(23.01.2017)
Central Government has amended Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 to exclude Co-operative Banks from accepting deposits under P.....
Tags : Pradhan Mantri Garib Kalyan Deposit Scheme, Co-operative Banks
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Gujarat HC Dismisses PIL against Sudhir Mankad’s Appointment to RBI(26.07.2016)
Gujarat HC has junked PIL challenging appointment of ex-Chairman of Gujarat International Finance Tec-City (GIFT-City) Sudhir Mankad as a Non-Officiat.....
Tags : Gujarat HC, Sudhir Mankad , Reserve bank of India
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Delhi HC Seeks ICICI’s Response on Plea Alleging Lack of Accessibility Standards for PWDs(02.07.2025)
Delhi High Court has sought response from ICICI Bank Limited in a plea alleging lack of accessibility standards for persons with disabilities (PWDs) i.....
Tags : Delhi High Court, ICICI Bank Limited, Digital Banking Services
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RBI Extends Note Exchange Deadline for NRI’s till June 30(02.01.2017)
Reserve Bank of India has said that Non-resident Indians (NRIs) can exchange old Rs 500 and Rs 1000 notes till June 30, 2017.
Tags : Reserve Bank of India, Rs. 500, Rs. 1000, Demonetisation
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Guj. HC: Promissory Estoppel Applies if Customer Acts on Basis of Bank's One Time Settlement Scheme(12.07.2022)
Gujarat High Court has held that once a customer acts on the basis of offer made by a Bank under its One Time Settlement scheme, the principle of prom.....
Tags : Gujarat High Court, Promissory Estoppel, Bank
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Lending and Deposit Rates of Scheduled Commercial Banks - September 2023(28.09.2023)
Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) for the month of Septe.....
Tags : Scheduled Commercial Banks, Lending Rates, Deposit Rates
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ITAT, Mumbai: Interest Income Earned by HSBC Bank Not Eligible to Tax(14.07.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that interest income of Rs 1,498 crore earned by HSBC Bank during the assessment year 2015-16 f.....
Tags : Income Tax Appellate Tribunal, HSBC Bank
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IBC Will Override Provisions of Other Enactments Inconsistent With It : Supreme Court(16.08.2018)
Supreme Court has observed that Insolvency and Bankruptcy Code (IBC) will override anything inconsistent contained in any other enactment, including t.....
Tags : Supreme Court, Insolvency, Bankruptcy
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Karnataka HC Orders ?15 Lakh Compensation to Student Denied MBBS Admission Despite Paying Fee(27.08.2025)
Karnataka HC has directed Sri Siddhartha Medical College to pay ?15 lakh to a student who was wrongfully denied MBBS admission in 2017-2018 despite ti.....
Tags : Karnataka HC, MBBS Admission, Sri Siddhartha Medical College, Bank Guarantee
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Insolvency and Bankruptcy Board of India (IBBI): Unclaimed Dividend to Go to IBBI Account(17.01.2020)
Insolvency and Bankruptcy Board of India has notified an amendment to the Voluntary Liquidation Process Regulation, 2017, whereby all unclaimed divide.....
Tags : Insolvency and Bankruptcy Board of India, Amendment in Voluntary Liquidation Process Regulation, 2017
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Bankruptcy, Insolvency Related Work To be Done By Department of Economic Affairs(07.01.2016)
The work relating to bankruptcy and insolvency has been taken out from the domain of Law Ministry and put under Department of Economic Affairs, a step.....
Tags : bankruptcy and insolvency , Department of Economic Affairs, Law Ministry
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SC Wants All Information on Reliance, Sistema, Aircel & Videocon Bankruptcy Cases(21.07.2020)
Supreme Court has asked for all records pertaining to the bankruptcy proceedings of Reliance Communications, Sistema Shyam Teleservices, Aircel and Vi.....
Tags : Supreme Court, Information on Bankruptcy Cases
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Inclusion of "India Post Payments Bank Limited" in the Second Schedule of the Reserve Bank of India Act, 1934(03.07.2019)
We advise that the "India Post Payments Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notificatio.....
Tags : Post Payments, Bank, Inclusion
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RBI Issues Guidelines for Voluntary Surrender of Licence by PSOs(13.05.2016)
Reserve Bank of India (RBI) has issued guidelines for voluntary surrender of licence by Payment System Operators (PSOs) under Payment & Settlements Sy.....
Tags : Reserve Bank of India , PSOs
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PMLA Appellate Authority: IBC Prevails Over Prevention of Money Laundering Act(24.09.2019)
In an important decision, the Appellate Authority of the Prevention of Money Laundering Act, 2002 has upheld the prevalence of the Insolvency and Bank.....
Tags : Appellate Authority of the Prevention of Money Laundering Act, 2002, Insolvency and Bankruptcy Code, PMLA
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Allahabad HC Fines SBI ?1 Lakh for Delay in Deciding Compassionate Appointment Claim(30.09.2025)
Allahabad High Court imposed a ?1 lakh cost on the State Bank of India for failing to decide a compassionate appointment application for five years, t.....
Tags : Compassionate Appointment, State Bank of India, Claim
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SC Criticizes Punjab National Bank for Settling With Borrower Post-Auction of Secured Property(12.09.2025)
Supreme Court reprimanded Punjab National Bank for settling with a borrower after auctioning the property. The bench directed PNB to issue the final s.....
Tags : Punjab National Bank, Auction, Secured Property
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Bombay HC: Mere Repayment of Loan Amount ‘No Ground’ For Quashing Cheating Case(29.03.2017)
Bombay High Court has held that re-payment of loan amount will not have any adverse effect on a criminal prosecution and observed that offences involv.....
Tags : Bombay High Court, banking and loan transactions
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Guidelines for Standalone PD participation in Exchange Traded Currency Futures(17.03.2016)
The Reserve Bank of India issued guidelinesTags : Bank, primary dealers, currency, futures
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CIC: Records of Loans to Adani Groups Cannot be Disclosed under RTI(28.11.2016)
Central Information Commission (CIC) has held that records related to loans given to industries promoted by Gautam Adani cannot be disclosed as these .....
Tags : Central Information Commission, Gautam Adani , State Bank of India , Loans
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J&K&L HC: No Previous Sanction Required to Prosecute Bank Officials Regarding IPC/RPC Offences(17.05.2022)
Jammu and Kashmir and Ladakh High Court has observed that there is no need to obtain the previous sanction to prosecute bank officials in connection w.....
Tags : Jammu and Kashmir and Ladakh High Court, bank, Indian Penal Code, 1860, Ranbir Penal Code, 1932
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Central Government approves recapitalisation of Export-Import Bank of India(16.01.2019)
The Union Cabinet, chaired by the Prime Minister has approved the recapitalization of EXIM Bank. Recapitalization Bonds by Government of India to the.....
Tags : Recapitalisation, Exim bank, Approval
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India Signs Loan Agreement with the World Bank for USD 25.2 Million for Chhattisgarh Public Financial Management and Accountability Program(05.03.2019)
The Government of India, the State Government of Chhattisgarh and the World Bank signed here in New Delhi today a $25.2 Million Loan Agreement to supp.....
Tags : Loan Agreement, World bank, Signing of
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RBI’s Nod to FPIs to Invest in Unlisted Debt Securities(17.05.2016)
Reserve Bank of India (RBI) has allowed Foreign Portfolio Investors (FPIs) to invest in unlisted debt securities as well as in securitised debt instru.....
Tags : Reserve Bank of India , Foreign Portfolio Investors
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SC Allows Caretaker Trust to Operate Bank Accounts Towards Philanthropic Causes(22.10.2020)
Supreme Court has allowed the Maharawal Khewaji Trust that manages the Rs 20,000 Crores worth property of the last ruler of the erstwhile princely sta.....
Tags : Supreme Court, Operation of Bank Accounts
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Bombay HC: IBC Proceedings Don't Bar Criminal Case under NI Act Against Directors(07.10.2025)
Bombay High Court has held that prior initiation of Insolvency and Bankruptcy Code (IBC) proceedings does not bar criminal prosecution of directors un.....
Tags : Insolvency and Bankruptcy Code, Negotiable Instruments Act, Directors
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RBI grants "in-principle" approval to 11 Applicants for Payments Banks(19.08.2015)
The Reserve Bank of India granted "in-principle" approval to 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Ban.....
Tags : Rbi, payments banks, approved, guidelines
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India Signs Financing Agreement with World Bank for US$ 63 Million for Tejaswini(28.02.2017)
A Financing Agreement for IDA credit of US$ 63 million (equivalent) for the "Tejaswini" Socio-Economic Empowerment of Adolescent Girls and Young Women.....
Tags : Empowerment, Adolescent Girls, Agreement, World bank
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Centre Notifies Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021(29.01.2021)
Central Government has notified the Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021 which seeks to amend the Natio.....
Tags : Central Government, Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021
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#Economic Survey 2021-2022: Impact of Pandemic on Banking System(31.01.2022)
The banking system is well capitalized and the overhang of Non-Performing Assets seem to have structurally declined.
Tags : Economic Survey, Banking System
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Insolvency and Bankruptcy Board of India Disqualifies Parties Barred from Liquidation Process(08.01.2020)
Insolvency and Bankruptcy Board of India has issued a notification whereby promoters or related parties disqualified from taking part in the insolvenc.....
Tags : Insolvency and Bankruptcy Board of India, Liquidation
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Calcutta High Court: Reserve Bank of India is 'State' Under Article 12(11.03.2021)
Calcutta High Court has held that the Reserve Bank of India (RBI) is "State" under Article 12 of the Constitution of India, 1949. The Court has furthe.....
Tags : Calcutta High Court, Reserve Bank of India
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CESTAT, New Delhi: Banking Services are Related to Collection of Export Proceeds(05.03.2020)
Customs Excise and Service Tax Appellate Tribunal, New Delhi has held that banking services are related to the collection of export proceeds and has a.....
Tags : Customs Excise and Service Tax Appellate Tribunal, Banking Services
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RBI Announces Cut in Repo Rate and Reverse Repo Rate(27.03.2020)
Reserve Bank of India (RBI) has announced a 75 basis points cut in repo rates, 90 basis points cut to 4% in reverse repo rate as a measure to counter .....
Tags : Reserve Bank of India, Cut in Repo Rate and Reverse Repo Rate
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BANKING - CBI Court Convicts Ex Indian Bank CMD for Fraud(30.03.2019)
A Special CBI Court has convicted and sentenced former Indian Bank Chairman and Managing Director M Gopalakrishnan and 11 others to three years Rigoro.....
Tags : CBI Court, Ex Indian Bank CMD, M Gopalakrishnan
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IBBI Notifies Inspection And Investigation Regulations(19.06.2017)
Insolvency and Bankruptcy Board of India has notified Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 which .....
Tags : Inspection And Investigation Regulations, Insolvency and Bankruptcy Board of India
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RBI Cut Repo Rate by 50 bps(29.09.2015)
Reserve Bank of India (RBI) has cut its repo rate by 50 basis points to 6.75%, while keeping the Cash Reserve Ratio (CRR) unchanged at 4%. This was fo.....
Tags : Reserve Bank of India, Repo Rate
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NCLAT Widens Definition of “Dispute” to Resist an Action for Insolvency Under Bankruptcy Code(29.06.2017)
NCLAT has widened definition of 'dispute' u/s 8,9 of Insolvency and Bankruptcy Code to include, apart from existing suits and arbitrations, any other .....
Tags : NCLAT, Insolvency and Bankruptcy Code
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SC: NBFCs Cannot be Regulated by State Enactments(11.05.2022)
Supreme Court has ruled that state laws cannot govern Reserve Bank of India-regulated non-banking financial companies (NBFCs). The top court stated th.....
Tags : Supreme Court, Non-banking financial companies, Reserve Bank of India
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RBI Releases Fifth Bi-monthly Monetary Policy Statement, 2016-17; Kept Repo Rate Unchanged(07.12.2016)
Reserve Bank of India (RBI) has released Fifth Bi-monthly Monetary Policy Statement, 2016-17 wherein it has kept Repo rate unchanged at 6.25 percent, .....
Tags : Reserve Bank of India , Monetary Policy, Reverse Repo, Repo rate
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Bombay HC: No Bar on Court Exercising Jurisdiction Even When Application U/S 7 of IBC is Filed(27.04.2022)
Bombay High Court has ruled that since application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is filed, which is pending for consider.....
Tags : Bombay High Court, Section 7, Insolvency and Bankruptcy Code, 2016, Section 11, Arbitration and Conciliation Act, 1996
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SAT Sets Aside Rs 3 Lakh Penalty on Central Bank of India(10.09.2019)
Securities Appellate Tribunal (SAT) has set aside a penalty of Rs 3 lakh levied by markets regulator Securities and Exchange Board of India(SEBI) on C.....
Tags : SAT, Central Bank of India
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RBI Allows NRIs to Access ETCS Market(03.02.2017)
Reserve Bank of India (RBI) has allowed NRIs access to Exchange Traded Currency Derivatives (ETCD) market to hedge currency risk arising out of their .....
Tags : Reserve Bank of India, Exchange Traded Currency Derivatives
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SC: Can’t Prosecute Directors to DBS Bank for Acts of Lakshmi Vilas Bank Before Amalgamation(12.09.2023)
Supreme Court has held that DBS Bank and its directors cannot be held criminally liable for actions attributed to directors of Lakshmi Vilas Bank befo.....
Tags : Supreme Court, DBS Bank, Lakshmi Vilas Bank, Amalgamation, Criminal Liability
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CIVIL - Kerala HC Directs District Collectors to be Present in Proceedings Regarding Formation of Kerala Bank(06.03.2019)
Kerala High Court has directed seven District Collectors to be present in person during meeting to be held at district banks concerning finalising the.....
Tags : Kerala High Court, Kerala Bank
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RBI: Banks Cannot Refuse to Accept Scribbled, Coloured, Faded Bank Notes(01.05.2017)
Reserve Bank of India (RBI) has clarified by its notification dated 25th April 2017 that bank branches cannot refuse to accept scribbled/coloured/fade.....
Tags : Reserve Bank of India, Scribbled, Coloured, Faded Bank Notes
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Implementation of Indian Accounting Standards(23.06.2016)
RBI asked banks to submit Proforma Ind AS (Indian Accounting Standards) Financial Statements for half year ending 30 September 2016 by 30 November 201.....
Tags : ind as, banks, financial statements
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