RBI

The bench had reserved the verdict on December 17 last year after hearing the petitioners, the Centre, RBI and intervenors.

The Supreme Court has directed the RBI to lay down comprehensive directions mandating the steps to be taken by banks with respect to locker facility/safe deposit facility management.

The RBI proposes tighter rules for NBFCs and wants them classified into four categories. This is crucial for fiscal steadiness and to bring back confidence and will ensure that larger players will be screened just like banks.

In his petition, Viswam also prayed that Indians’ right to privacy should be protected from being misused by giant corporations for their financial ends.

In a shocking development, online fraudsters are offering easy loans and using forceful ways to humiliate customers so that they cough up the cash borrowed, leading many to commit suicide in desperation.

The National Consumer Dispute Redressal Commission (NCDRC) has passed a important ruling in which it states that if hackers fraudulently withdraw money from a person's bank account, the bank, would be responsible for the loss, not the Customer.

A Public Interest Litigation has been filed in the Delhi High Court seeking directions to the Unique Identification Authority of India to take action against Google pay alleging that Google pay has unauthorized access and storage of Aadhaar data.

In the petition, Viswam had prayed that Indians’ right to privacy should be protected from being misused by “giant corporations” for their “financial ends”.

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