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Supreme Court: Any Direction Issued by RBI Derived from Statutory Power is Binding - (05 Jan 2022)

Supreme Court has stated that Reserve Bank of India (RBI) has wide supervisory powers over financial institutions like SIDBI, in furtherance of which, any direction issued by the RBI, deriving power from the RBI Act or the Banking Regulation Act is statutorily binding in matter regarding delayed payments of principal amount and interest accrued on bonds issued by SIDBI.

Tags : SUPREME COURT   RESERVE BANK OF INDIA   SUPERVISORY POWERS  

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