Cooperative Society Banks challenge Banking Regulation Amendment Ordinance, 2020: Madras HC asks RBI, Centre to respond [Read Order]

The Court, however, declined to grant any interim relief to the petitioners in the matter today, opining that the same can only be considered once more material is brought on record.
Madras High Court
Madras High Court

The Madras High Court on Monday declined to grant any interim relief in a challenge moved against the Banking Regulation Amendment Ordinance, 2020 promulgated last month to regulate the affairs of Cooperative Banks by introducing an amendment to the Banking Regulation Act, 1949 (Big Kanchipuram Cooperative Town and anr v. UOI and anr).

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