Tag: Banking
-
Ordinance to Ban Unregulated Deposit Schemes: Bridging the Regulatory Gap
[Anirban Roy Choudhury is a banking and finance lawyer and an LL.M. (Finance) candidate at the Institute for Law and Finance, Goethe University Frankfurt] In spite of various legislation, including the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and the Chit Funds Act, 1982, being in place throughout the last few decades, various
-
Consumer Protection and Payment Wallets – A Case for Tech-based Intervention
[Debanshu Mukherjee heads the Corporate Law and Financial Regulation vertical at the Vidhi Centre for Legal Policy, a New Delhi based independent think-tank. Shehnaz Ahmed is a Senior Resident Fellow at the Vidhi Centre for Legal Policy. Param Pandya is a Research Fellow at the Vidhi Centre for Legal Policy. An expanded version of this post has appeared
-
Prompt Corrective Action
[Manal Shah is a B.A. LL.B. (Hons.) student at the National University of Advanced Legal Studies, Kochi and writes at thesecuritiesblawg.in] Prompt corrective action (“PCA”) is intended to “intervene early and take corrective measures in a timely manner, so as to restore the financial health of banks that are at risk by limiting deterioration in their
-
Payments Regulatory Board: Merits and Criticisms
[Tishya Saran and Aayush Grover are both 5th year students of Government Law College, Mumbai] Introduction The Reserve Bank of India (“RBI”) and the Central Government seem to be embroiled in a regulatory tussle. It all started when an Inter-Ministerial Committee (the “Committee”) set up by the Department of Economic Affairs, in a report published by it
-
Merger of Public Sector Banks and Competition Concerns
[Kruthika Venkatesh is a 4th year B.B.A., LL.B. (Hons.) student at School of Law, Christ (Deemed-to-be) University in Bangalore] Background The media has reported that the Government of India is all set to ask the Reserve Bank of India (“RBI”) to prepare a list of candidates for merger among the 21 government controlled lenders with the
-
Fast Track Debt Resolution Programme – Achilles Heel Of The Insolvency And Bankruptcy Code
[Tushar Kumar is a 4th Year BA LLB (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow] The Ministry of Finance, in July 2018, accepted the recommendations of a committee constituted for review on Non-Performing Assets of Public Sector Banks, headed by Sunil Mehta (Non-Executive Chairman of Punjab National Bank) proposing “Project Sashakt”,
-
The Rise and Fall of the Financial Resolution and Deposit Insurance Bill
[Apoorv Madan and Rushil Anand are fourth year B.B.A. LL.B. (Hons.) students at Jindal Global Law School in Sonipat] Background It may be considered common knowledge, at this time, that failure of some financial institutions can have far-reaching implications on economies, sometimes resulting in full-blown financial crises. Further, because of the increasingly interconnected and globalised
-
The Curious Case of Cryptocurrencies: Part II
[Pranav Tolani is associated with a corporate law firm in Mumbai and can be reached at pranavtolani@gmail.com] The first post in this series is available here] The Indian Position While India has active cryptocurrency traders as well as cryptocurrency exchanges, there has been no serious development on the regulatory front, except, of course, the repeated
-
The Curious Case of Cryptocurrencies: Part I
[Pranav Tolani is associated with a corporate law firm in Mumbai and can be reached atpranavtolani@gmail.com] Cryptocurrencies have made waves in financial markets around the globe. According to leading cryptocurrency exchanges, the August 2018 global cryptocurrency market capitalisation is somewhere short of USD 400 billion – less than half of what it was in December 2017
-
Corporate Insolvency Proceedings: Can Interest be Claimed as a Part of Debt?
[Lyssa Maria Brito is a 4thyear B.B.A.L.L.B. (Hons.) student at School of Law Christ (Deemed to be University), Bengaluru] Introduction Earlier, in section 433(e) of the Companies Act, 1956, there was no distinction provided between a financial and an operational debt. Section 433(e) only provided that a company may be wound up by the court if
