The Delhi High Court was hearing PIL highlighting unauthorised access, use & store of Aadhar and banking information of Indian citizens by Google Pay as a sheer violation of Article 21 of the Indian Constitution, Aadhar Act 2016, Payments and Settlement Systems Act 2007 and Banking Regulations Act 1949.
The court observed that the affidavits of the officers are not satisfactory. It seems that both the bank and the police are not serious. Proper efforts were not made to prevent fraud. They are told that the fraud took place from a remote area. Even the police are afraid to go to the Naxal area.
The RBI, along with other central banks, is debating the use of a Central Bank Digital Currency. If safe and effective, it’ll challenge private crypto-currencies. But first, laws need to be amended to make this a reality.
The plea seeks regulation and control on the working of online digital lenders doing business through mobile apps or any other platform; and a direction for stopping the practice of charging exorbitant interest on the loan from borrowers.
A Public Interest Litigation has been filed in the Supreme Court seeking directions to the Union of India and Reserve Bank of India to permit banks to offer a moratorium on payments to borrowers for the period of June to August.
The recent resuscitation move by the Reserve Bank of India may not be enough to help small businesses stay afloat. A petition filed in the Supreme Court wants a fresh moratorium on interest on bank loans.
With the second wave of Covid-19 putting further stress on the economy, the Reserve Bank of India has launched measures to enhance fund flow for the healthcare sector and inject more liquidity into the system. Will they help?
Preeti Rai, the mother of three and a half years child filed the petition in High Court with the help of Advocates Abhinav Gaur and Vibhu Rai, seeking custody of her child from child's father and grandparents.