RBI feels account holders were being "unnecessarily taxed” by putting cap on ATM withdrawal
Advertisement
Advertisement
The A bench of Chief Justice
RBI was responding to public interest litigation (
India's central banking institution, which controls the monetary policy of the rupee, however, opposed the PIL, saying it is "not maintainable and is liable to be dismissed, as RBI has not violated any laws of the land".
"The PIL is not meant to be a weapon to challenge the financial or economic decisions which are taken by the RBI in exercise of their administrative/ statutory powers and in the public interest...," RBI's counsel said.
Advertisement
On this, the bench has asked the RBI to file an affidavit with regard to its contention made before it by next date of hearing, December 5.
The RBI's oral submissions were made after the high court on last date of hearing had questioned its decision to put a cap on withdrawals by banking customers using their ATM cards, saying account holders were being "unnecessarily taxed".
As per RBI's new guidelines, bank customers in six metros -- Delhi, Mumbai, Chennai,
Image- India Times
Advertisement
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market