RBI 

Change in Bank Rate (9 FEB 2023)

As announced in the Monetary Policy Statement 2022-23 dated February 08, 2023, the Bank Rate is revised upwards by 25 basis points from 6.50 per cent to 6.75 per cent with immediate effect. All penal interest rates on shortfall in reserve requirements, which are specifically linked to the Bank Rate, also stand revised.

NOTIFICATION : Reserve Bank of India - Notifications (rbi.org.in)

DELHI HIGH COURT 

Delhi High Court grants bail to Chitra Ramkrishna in money laundering case (9 FEB 2023)

The Delhi High Court on Thursday, February 9, 2023, granted bail to Chitra Ramkrishna in a money laundering case, being probe by the Enforcement Directorate (ED) involving alleged illegal phone tapping of the National Stock Exchange (NSE) employees.  

The former NSE managing director, who was arrested on March 6, 2022 by the CBI in the alleged NSE co-location scam, was granted bail by the High Court in September last year. She was arrested in the present case by the ED July 14 last year.

NEWS REPORT : Delhi High Court grants bail to Chitra Ramkrishna in money laundering case - The Hindu

ED 

Delhi excise policy PMLA case: ED arrests advertising company director (9 FEB 2023)

Rajesh Joshi, the director of Chariot Productions Media Pvt Ltd, was placed under arrest under sections of the Prevention of Money Laundering Act (PMLA).

The ED has alleged in a charge sheet submitted to the court that a part of the alleged Rs 100 crore "kickbacks" generated in the scrapped Delhi excise policy were "used" in the 2022 Goa assembly election campaign of the Arvind Kejriwal-led party.

DETAILS : Delhi excise policy PMLA case: ED arrests advertising company director (msn.com)

NEWS AT GLANCE

  • IMF lauds India's strong economic performance and digitalisation of economy.
  • National Security Advisor Ajit Doval says, India will never abandon people of Afghanistan in their hour of need.

WORD OF THE DAY 

A grace period is a period immediately after the deadline for an obligation during which a late fee, or other action that would have been taken as a result of failing to meet the deadline, is waived provided that the obligation is satisfied during the grace period.

In law, a grace period is a time period during which a particular rule exceptionally does not apply, or only partially applies. For the grace period in patent law.

MARKET TODAY (as on 9.02.2023)

BSE SENSEX                    60,806.22 INR▲ +142.43 (+0.23%)

NIFTY 50                           17,893.45 INR▲ +21.75 (+0.12%)

1 US Dollar = 82.48 Indian Rupee (Last updated · 9 February at 2:05 pm UTC)

MyLawman is now on Telegram (t.me/mylawman) Follow us for regular legal updates. Follow us on Google News, Instagram, LinkedIn, Facebook & Twitter or join our Whatsapp group .You can also subscribe for our Newsletter for Email Updates.