1. News
  2. Explained

SC To Hear Cases Against RBI wrt Its Recent Directive On Cryptocurrencies et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 18, 2018 12:17 PM 1 min read

End of Day Wrap-up (Friday / May 18, 2018) #RCom #Ericsson #RBI #PSB #Karnataka #Aadhaar #SC #cryptocurrency #Bitcoin #Ripple #Ethereum #Bitcoin #MarutiSuzuki #cars #Transfin

Editor's comment: RCom and Ericsson unlikely to reach out of bankruptcy tribunal settlement at present, as per reports. In tribunal resolution would put deal with Jio at risk.


Government may ask RBI to revise its prompt corrective action (PCA) framework which currently puts stringent lending restrictions on 11 stressed PSBs. Specific lending practices towards small industries to small industries may be relaxed. 


Benchmark indices 0.86% down as Supreme Court directs BJP to face a floor test in Karnataka assembly tomorrow at 4pm.  


2 million people denied ration in 3 states due to Aadhaar authentication problems, as per a study conducted by Idinsight for Omidyar Network. 158,400 duplicate Aadhaars found in the 3 states. 

Supreme Court to hear all cases against RBI with respect to its recent directive restricting any regulated financial institution to deal with cryptocurrency businesses. Petitioners can make representation to RBI in the next 2 weeks.
Maruti Suzuki to conduct its largest planned capacity expansion by adding 750,000 cars to their Gujarat plant, and build a 4th plant with 1.5m unit capacity. The company's total vehicle manufacturing capacity will be 4.5m, more than double the 1.75m vehicles it produces now.