Reserve Bank of India

The Delhi High Court on Friday sought the Reserve Bank of India’s stand on a plea that various banks and financial institutions had extended huge loans to certain group of companies without due scrutiny. 

These three news headlines hammer home the current craze over cryptocurrencies, the world over. India is also no stranger to virtual currency and the rage has kicked in strongly. The government is mindful of the consequences of regulated use of cryptocurrencies and has made moves to regulate it by bringing its trade under the tax net.

By Shivanand Pandit F...

Actor Aishwarya Rai Bachchan appeared before the Enforcement Directorate for questioning in Delhi on Monday in connection with the 2016 Panama Papers inquiry which points towards tax evasion by many individuals and corporate entities across the world.

The Supreme Court has to...

The Delhi High Court was hearing PIL highlighting unauthorised access, use & store of Aadhar and banking information of Indian citizens by Google Pay as a sheer violation of Article 21 of the Indian Constitution, Aadhar Act 2016, Payments and Settlement Systems Act 2007 and Banking Regulations Act 1949.

The court observed that the affidavits of the officers are not satisfactory. It seems that both the bank and the police are not serious. Proper efforts were not made to prevent fraud. They are told that the fraud took place from a remote area. Even the police are afraid to go to the Naxal area.

The RBI, along with other central banks, is debating the use of a Central Bank Digital Currency. If safe and effective, it’ll challenge private crypto-currencies. But first, laws need to be amended to make this a reality.

The plea seeks regulation and control on the working of online digital lenders doing business through mobile apps or any other platform; and a direction for stopping the practice of charging exorbitant interest on the loan from borrowers.

A Public Interest Litigation has been filed in the Supreme Court seeking directions to the Union of India and Reserve Bank of India to permit banks to offer a moratorium on payments to borrowers for the period of June to August.