LEGAL NEWS
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…