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Delhi HC seeks RBI response on implementation of Uniform Banking Code

Court also asks Centre to file a reply in the case in six weeks; next hearing on March 20

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The plea said the format of the transaction should be uniform whether it is converted by Western Union or National Bank or an India-based foreign bank

Bhavini Mishra New Delhi

3 min read Last Updated : Dec 05 2022 | 9:32 PM IST

The Delhi High Court on Monday sought a response from the Reserve Bank of India (RBI) on a plea seeking to apply the Uniform Banking Code on foreign exchange dealings, in order to control black money and Benami transactions.

A bench of Justices Satish Chandra Sharma and Subramonium Prasad issued a notice to the RBI saying the matter needs a detailed hearing.

The court also issued a notice to the Centre to file a reply in the case in six weeks. The next hearing is on March 20.

In the previous hearing, the court had issued notices to the ministries

Topics : Reserve Bank of India Delhi High Court benami transactions foreign exchange Black money Public Interest RTGS PIL NEFT Foreign exchange reserve

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