Decoding RBI Cybersecurity Framework for Non-Bank Payment Systems
by Siddharth Suresh* and Prateek Singh**
Reserve Bank of India
RBI streamlines guidelines for ARC – borrower settlements
Borrowers with dues of more than Rs. 1 crore can settle their amount only after IACs evaluation.
Delhi High Court refuses to exercise power of judicial review and usurp powers of NCLT in petition filed against Reserve Bank of India
‘The Adjudicating Authority alone has the jurisdiction to regulate the conduct of CoC and finally adjudicate upon the resolution plan through powers of judicial review while ensuring that CoC functions as per the role and responsibilities delineated under IBC.’
RBI imposes penalty of Rs. 7.9 lakh on Muthoot Vehicle & Asset Finance Ltd. for non-compliance with Liquidity Risk Management Framework and RBI Directions for NBFCs
Apart from failing to disclose information regarding LCR and conveying the loan amounts sanctioned, MVAFL also failed to submit data of gold loan customers.
RBI imposes penalty of Rs. 1.9 Lakh on Muthoot Finance Ltd. for non-compliance with KYC Directions, 2016
Muthoot Finance had been allotting more than one UCIC to its individual customers in contradiction to the 2016 KYC Directions issued by the RBI.
Reserve Bank of India imposes penalty of 1.45 Crore on Central Bank of India for non-compliance with directions
RBI imposed penalty on Central Bank of India for failing to comply with directions for Loans and Advances as well as Customer Protection.
RBI imposes penalty of 3 Lakh on Hero FinCorp for non-compliance with Fair Practices Code
RBI imposed penalty on Hero FinCorp for failing to comply with 2016 Directions related to Fair Practices Code.
Upgradation of NPA Account – Whether Permissible After Issuance of Demand Notice under Section 13(2) of the Sarfaesi Act
by Prashant Tripathi† and Hrishitha Velore††
Reserve Bank of India issues Master Direction to Asset Reconstruction Companies
Reserve Bank of India issues Master Direction to ensure prudent and efficient functioning of Asset Reconstruction Companies
Reserve Bank of India takes Supervisory Action against Kotak Mahindra Limited u/s 35-A of Banking Regulation Act, 1949
RBI directed Kotak Mahindra Bank to “cease and desist” the onboarding of new customers through its online and banking channels
Google Play not a payment aggregator; Calcutta High Court dismiss Hoichoi’s plea against Google Play Store delisting
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.
No acceptance of deposits and other banking services after 29 February; RBI imposes additional curbs on Paytm Payments Bank
The restrictions came after persistent non-compliances and continued material supervisory concerns in Paytm Payments Bank Ltd.
RBI notifies FEM (Manner of Receipt and Payment) Regulations, 2023 mandating permission from RBI for Trade outside India
On 21-12-2023, the Reserve Bank of India (‘RBI’) notified the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 mandating permission
Delhi High Court dismisses plea by Centre for PIL and Harsh Mander seeking probe into alleged over invoicing by Essar Group, Adani Group among others
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.
Banks are required to have at least 2 Whole Time Directors on Board: RBI
On 25-10-2023, the Reserve Bank of India (‘RBI’) directed all the Private Sector Banks and Wholly Owned Subsidiaries of Foreign Banks to
Landmark Judgments on SEBI by Supreme Court and High Courts in 2022 Part II
by Siddharth R. Gupta*
Cite as: 2023 SCC OnLine Blog Exp 78
Banking the Unbanked: BNPL as a Tool for Financial Inclusion in India and the Barriers in Achieving it
by Hrishikesh Reddy Kothwal*
RBI’s Amalgamation Scheme aimed at securing larger public interest and banking industry’s health: Supreme Court
Supreme Court clarified that Clause 3(3) of amalgamation scheme does mention regarding continuation of legal proceedings by or against a transferee bank, but such amalgamation is aimed at securing larger public interest.
MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III
On 30-6-2023, the Ministry of Finance further amended the Foreign Exchange Management (Current Account Transactions) Rules, 2000. It will be deemed to