Banking Sector Reforms — Key Judgments

Key Judgments

Indian Banks Association v. Union of India

2007

This Supreme Court judgment validated the RBI's authority to issue directions to banks under Section 35A of the Banking Regulation Act. The court upheld the central bank's power…

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Constitutional Challenge

2004

The Supreme Court in Mardia Chemicals Ltd. v. Union of India upheld the constitutional validity of the SARFAESI Act 2002, which revolutionized debt recovery in the banking sector.…

Reserve Bank of India v. Jayantilal N. Mistry

2021

This Supreme Court judgment clarified the RBI's power to initiate insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) 2016. The court held that the RBI can…