RBI

TechFins to enter or operate into the financial sector without establishing registered offices within the territory of India and without prior registration/approval from financial regulators in India.

Ignoring the advice of experts, the RBI’s Internal Working Group has recommended the entry of business houses into the banking sector. This can have dangerous repercussions for depositors and shareholders.

The decision was taken following repeated outages in its electronic banking services.

A division Bench of the Chief Justice DN Patel and Justice Prateek Jalan has given time to Reserve Bank of India to file its reply and adjourned the case to January 4, 2021. The application was filed by Bejon Kumar Mishra seeking directions to include financial emergencies as a ground for depositors to withdraw their money from Punjab and Maharashtra Co-operative (PMC) Bank.

The Supreme Court today has disposed off the petition filed by Gajendra Sharma seeking waiver of Interest on interest during the Loan Moratorium period declared by Centre owing to COVID 19 pandemic.

A Public Interest Litigation has been filed in the Delhi High Court seeking directions to the central government to ensure that the digitalized financial services are accessible to the visually challenged person.

The Bench of Chief Justice D. N. Patel and Justice Prateek Jalan, Delhi High Court today heard a PIL to hold institutions like the Reserve Bank of India and companies like Google Pay accountable for facilitating financial transactions without the requisite authorisation from RBI.

New Delhi (ILNS): The Re...

New Delhi (ILNS): The Supreme Court today gave the RBI, the Centre and the banks a week’s time to file their replies and observations on the issue of loan moratorium and interest payment for sectors that have claimed they deserve repayment consideration because of the Covid-19 pandemic.

The Supreme Court today gave the Centre and the Reserve Bank of India more time to place their decisions on record regarding the issue of waiver of interest on the suspended EMIs during the moratorium period. The court will hear the matter next on October 5.