For the past few years, India’s banking sector has been burdened by an overhang of stressed assets in the system, as well as a liquidity crisis (which can largely be seen as a consequence of the former) within the system. The focus has been on bank recapitalization and strengthening the resolution framework for stressed assets…
RBI-CENTRAL BANK OF INDIA The Reserve Bank of India (RBI) is the central bank of India, which was established on Apr. 1, 1935, under the Reserve Bank of India Act. The Reserve Bank of India uses monetary policy to create financial stability in India, and it is charged with regulating the country’s currency and credit…
Prior to the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as IBC), India had no singular law dealing with a company in financial distress. The legal framework was fragmented due to the existence of multiple acts (SICA, SARFAESI, RDDBFI). This led to unnecessary delays, confusion and conflicts. Its detrimental effects could be gauged from…
Recently the HDFC Bank was imposed with penalty of Rs 10 crore by “The Reserve Bank of India (RBI)” – for wrongfully selling third-party non-financial products to its auto-loan customers. Which raise the question what exactly are “Third party Non-financial products“? And its ambit of operational features. THIRD PARTY NON FINANCIAL PRODUCTSSuch products generally are sold…
