The Bombay High Court clarifies that the RBI circular on bank fraud has not been stayed; only asked banks to follow orders from the Supreme Court-

The Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions of 2016 (master circular) pertaining to bank fraud [SS Hemani v. RBI & Ors.] was clarified on Tuesday by the Bombay High Court that it has not stayed its operation. In a nine-page order Read more…