RBI Functions and Autonomy — Legal Precedents

Legal Precedents

Internet and Mobile Association of India v. Reserve Bank of India

2020

The Supreme Court struck down RBI's 2018 circular that prohibited banks from providing services to cryptocurrency exchanges, ruling that RBI failed to demonstrate proportionality…

State Bank of India v. Santosh Gupta

2017

The Supreme Court upheld RBI's power to issue directions to banks under Section 35A of the Banking Regulation Act, confirming that such directions are binding and enforceable. The…