Internal and External Debt — Key Judgments

Key Judgments

State of Rajasthan v. Union of India

1977

This landmark judgment established the constitutional boundaries between Union and State borrowing powers under Articles 292 and 293. The Supreme Court clarified that while states…

Reserve Bank of India v. Peerless General Finance

1987

This case established RBI's regulatory authority over financial institutions and their role in government securities markets. The judgment clarified RBI's dual role as monetary…