INFORM: Infrastructure, Projects & Finance – November 2023

The highlights of the current issue are:

Notifications/circulars:

• RBI Releases Non-Banking Financial Company Scale Based Regulation Directions, 2023
• Non-Callable Deposits – Master Direction on Interest Rate on Deposits
• Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs)
• Credit Information Companies and Credit Institutions Enhance Customer Service
• Compensation Framework Established for Delayed Credit Information Updation
• SOP Implemented to Tackle Inflated Billing for Free Ash Transport
• RBI slaps record-breaking penalty on ICICI Bank and Kotak Mahindra Bank for Norm Violations

Case laws:

• Determination of Unreasonably Low Bid as Non-Responsive Prejudicial to Public Interest in Strategic Projects: Forfeiture of Bid Security Valid
• Compensation for Prolongation of Contract: Reservation of Right Essential
• Weighted Average Principle to be Used Where the Shareholding of a Captive Generating Plant Changes
• Judicial Review on Tender Conditions to be Restrictive
• No Stamp Duty on Instruments Executed by or on Behalf of the Government
• Power of Debarment Not to be Exercised Arbitrarily

Quick Reads:

• IIFCL Greenlights Rs 8,800 Cr Loans to Bolster Civil Aviation Infrastructure
• Public Sector Banks Poised to Enhance Loan Risk Assessments
• SEBI Asks Civic Bodies to Finance Infrastructure via Bonds
• RBI Cautions Banks Regarding Unsecured Personal Loans, Urges Heightened Surveillance
• Currency Flow Drops to a Ten-Year Low