Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The RBI has announced new directions regarding statutory audits, focusing on governance, oversight, and the appointment of statutory auditors in commercial banks.
The RBI has issued directions to strengthen the internal audit functions of commercial banks, focusing on governance, effectiveness, and accountability.
New directions by the RBI elaborate on fraud risk management practices for commercial banks, providing essential guidance for minimizing fraud-related risks.
The Reserve Bank of India has issued new Directions concerning the compliance functions of commercial banks, emphasizing the roles of governance and oversight in financial institutions.
The RBI has published new guidelines on the detection, reporting, and monitoring of Fake Indian Currency Notes (FICNs), streamlining procedures for banks to counteract counterfeiting effectively.
The IBBI has determined that communications with resolution professionals are exempt from disclosure under RTI, ensuring confidentiality in insolvency proceedings.
The Reserve Bank of India has extended the directives issued to The Pusad Urban Co-operative Bank Ltd. until August 7, 2026. This extension aims to ensure compliance with regulatory standards and safeguard depositors' interests.
The NCLT Mumbai ruled that a second invocation of a guarantee cannot revive a time-barred Section 7 claim, emphasizing limitation issues in bankruptcy cases.
The NCLT Ahmedabad has ruled that financing for a bank loan takeover does not qualify as financial debt, leading to the rejection of a related Section 7 IBC application.
In a move towards regulatory streamlining, the Reserve Bank of India has consolidated several supervisory instructions and repealed older circulars. This action aims to enhance clarity and compliance for banks and financial institutions.
The RBI has appointed Smt. Monisha Chakraborty as Executive Director effective August 3, 2026. She brings over three decades of banking experience to this role, having previously served as Chief General Manager in the Department of Supervision.
The Reserve Bank of India has directed banks to implement training programs for staff involved in cash handling, enhancing their ability to detect counterfeit currency.