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The Foreign Exchange Management (Deposit) Regulations, 2016 has been amended by the Reserve Bank of India by Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024.
The extracts of the relevant web-pages furnished by the Hoichoi, the petitioners, themselves go on to show that the Google Play platform merely offers different payment methods but does not itself Act as a PA.
Calcutta High Court noted that as per Section 5(1) of the Maternity Benefits Act, 1961, every woman is entitled to, and her employer shall be liable for, the payment of maternity benefits.
“The petitioner is an organisation alleging circular financial transactions, violations of statutes, and private wealth creation from public funds. Regulatory bodies, including the Ministry of Corporate Affairs, RBI, SEBI, and NHB, are implored to take swift action in response to the serious allegations.”
The restrictions came after persistent non-compliances and continued material supervisory concerns in Paytm Payments Bank Ltd.
On 27-12-2023, the Reserve Bank of India (‘RBI’) notified the RBI (Government Securities Lending) Directions, 2023 applicable to all Government securities lending
On 21-12-2023, the Reserve Bank of India (‘RBI’) notified the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 mandating permission
The petitions are premised upon a show cause notice issued by DRI promulgating that the intelligence has indicated that various entities of Adani Group and Essar Group were indulging in gross over-valuation of imported goods (zero or low duty rated) to siphon off money abroad from Public Listed Companies.
On 25-10-2023, the Reserve Bank of India (‘RBI’) directed all the Private Sector Banks and Wholly Owned Subsidiaries of Foreign Banks to
On 30-9-2023, the Reserve Bank of India (‘RBI’) announced that with effect from 8-10-2023, the deposit or exchange of Rs. 2000 banknotes
by Hrishikesh Reddy Kothwal*
On 12-9-2023, the Reserve Bank of India (‘RBI’) notified the Classification, Valuation and Operation of Investment Portfolio of Commercial Banks, Directions, 2023
On 8-9-2023, the Reserve Bank of India (‘RBI’) decides to discontinue the Incremental Cash Reserve Ration (‘I-CRR’) in a phased manner and
“A third-party app such as Google Pay obtains approval from National Payments Corporation of India (‘NPCI’) for operating on the UPI platform and RBI has issued the Certificate of Authorisation to the NPCI to operate various retail payment systems in India including UPI.”
Delhi High Court observed that the decision is not to demonetize Rs. 2000 bank notes but only a direction to the banks to desist from issuing Rs. 2000 denomination notes to its customers and to ensure that no withdrawal of Rs. 2000 denomination notes is allowed from the banks holding currency chest.
Himachal Pradesh High Court said that to assist the respective State Governments to choose the right persons to conduct statutory audits, the NABARD had issued the impugned letter prescribing broad guidelines
NCDRC held the HSBC officials negligent and deficient in service entitling the complainants to compensation for unwarranted humiliation, embarrassment and loss of reputation.
On 23-6-2023, the Reserve Bank of India (‘RBI’) imposed a penalty of Rs. 30 lakhs on Axis Bank Ltd. for non-compliance with
NCLAT observed that the principal objective of the IBC is ‘revival of the Corporate Debtor and Resolution’ and therefore “Liquidation ought to be the last resort, keeping in view the scope and spirit of the Code.”
A publicity interest litigation should be nipped in the bud so that valuable time of the Court is saved which can be effectively utilized in reducing huge pendency of cases.