Friday, April 26, 2024

BANKING

The Bombay High Court declared that issuance of Look Out Circulars (LOC) by public sector banks against default borrowers without a specific law violates fundamental rights. The court quashed the Centre's decision empowering banks to request LOCs, stating executive actions cannot infringe constitutional rights without legal basis.

from Banking/Finance-Industry-Economic Times https://ift.tt/XOWudpY
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