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1. RBI tightens norms for re-appointment of directors on UCB boards

RBI tightens norms for re-appointment of directors on UCB boards

RBI tightens norms for re-appointment of directors on UCB boards - Regulators - 1 min read RBI tightens norms for re-appointment of directors on UCB boards Amending the provisions, the Reserve Bank of India (RBI) on Monday said there have been instances where directors resorted to circumventing statutory provisions to continue on the boards of the UCBs. Mumbai, An individual cannot serve as a director continuously for more than 10 years on the board of Urban Co-operative Banks, and the re-appointment can happen only after a compulsory three-year cooling-off period, according to the RBI. Amending the provisions, the Reserve Bank of India (RBI) on Monday said there have been instances where directors resorted to circumventing statutory provisions to continue on the boards of the UCBs. In certain cases, the RBI said directors resigned briefly from office and got reelected/co-opted to the board within a short period, thereby continuing to be on the Board for an extended period beyond the legally permissible tenure. The Reserve Bank of India (Urban Co-operative Banks - Governance) Amendment Directions, 2026, have come into force with immediate effect. "A director on the Board of a UCB, after completing a continuous tenure of ten years in office, shall be eligible to be re-appointed, whether by election or co-option or in any other manner, as a director on the Board of the same UCB only after undergoing a minimum cooling-off period of three years," according to the directions. During the cooling-off period, the said director shall not be associated with the UCB in any capacity/manner other than as a member/ customer, it added. "This, however, shall not preclude him/her from being appointed as a director on the Board of another bank, if otherwise eligible," the RBI said.

2. SEBI proposes standardised option strike‑price framework to improve ease in trading

SEBI proposes standardised option strike‑price framework to improve ease in trading

SEBI proposes standardised option strike‑price framework to improve ease in trading - Regulators - 1 min read SEBI proposes standardised option strike‑price framework to improve ease in trading The Securities and Exchange Board of India (SEBI) on Monday proposed a standardised framework for managing strike prices of options contracts to ensure contracts remain available close to prevailing market levels during sharp intraday volatility. Mumbai, The Securities and Exchange Board of India (SEBI) on Monday proposed a standardised framework for managing strike prices of options contracts to ensure contracts remain available close to prevailing market levels during sharp intraday volatility. The move is aimed at improving trading continuity and ease of doing business in derivatives markets, the market regulator said in a consultation paper. A strike price is a pre-determined price at which an options contract can be exercised and inadequate availability of strike prices near the current market level could pose challenges to trading when prices move sharply, as participants will find it difficult to find suitable contracts to trade. SEBI considers proposing to exchanges to maintain a minimum number of in‑the‑money and out‑of‑the‑money strikes around the market price, conduct daily reviews and introduce new strike prices intraday in the direction of market movements. Such intraday introduction of strikes prices (i.e. options contracts) will not require changes in the systems of stock brokers or market participants during live market operations. The operationalisation of new framework shall be at the discretion of individual stock exchanges including whether to keep larger strike intervals for contracts away from prevailing market price, minimum number of options contracts to be issued, etc. The proposals want stock exchanges to establish a comprehensive and…

3. Kerala PSC not bound to disclose confidential disciplinary note files under RTI Act: Kerala High Court

Kerala PSC not bound to disclose confidential disciplinary note files under RTI Act: Kerala High Court

Kerala PSC not bound to disclose confidential disciplinary note files under RTI Act: Kerala High Court The Kerala High Court recently held that internal note files, deliberative materials and disciplinary records of an employee are exempt from disclosure under the Right to Information Act, 2005 [The State Public Information Officer and Under Secretary Kerala Public Service Commission & ors v The Kerala State Information Commission & ors]. Justice Mohammed Nias CP passed the ruling on a petition filed by the Kerala Public Service Commission (KPSC), challenging an order of the Kerala State Information Commission (Kerala SIC), which had directed disclosure of the documents sought by a former KPSC employee under the RTI Act. The Court emphasised on the need to balance transparency with privacy and institutional confidentiality and observed that the exemption of 'personal information' under Section 8(1) of the RTI Act cannot be interpreted narrowly or mechanically. The Court held that internal deliberative processes and confidential note files are entitled to protection unless a larger public interest is clearly established. "The first component of the provision is personal information and the law relating to it has evolved through judicial pronouncements and is now well settled that the expression “personal information” occurring in Section 8(1)(j), as it stood at the relevant time, takes within its fold not merely personal records, but also professional records, including service records, disciplinary proceedings, confidential assessments and employment related materials" the Court stated. The case arose from an RTI application filed by Rani Wilfred, former joint secretary of the KPSC, seeking copies of file notes, enquiry materials and connected records relating to disciplinary proceedings initiated against her over alleged irregularities in handling cash during her…

4. Cockroach Janta Party founder Abhijeet Dipke moves Delhi High Court against blocking of X account

Cockroach Janta Party founder Abhijeet Dipke moves Delhi High Court against blocking of X account

Cockroach Janta Party founder Abhijeet Dipke moves Delhi High Court against blocking of X account Cockroach Janta Party (CJP) founder Abhijeet Dipke has approached the Delhi High Court challenging the blocking of the CJP's ’s X account. Dipke has challenged the government’s blocking order, which cited national security reasons to ban the handle. The petition, filed through Advocate Nakul Gandhi of NG Law Chambers, is likely to be heard this week. According to a report by The Indian Express, the Central government ordered the blocking of the X account of CJP in the wake of inputs from the Intelligence Bureau (IB) that raised “national security concerns”. The report said that the Ministry of Electronics and Information Technology (MeitY) asked X to withhold the account under Section 69 (A) of the Information Technology Act, 2000. The “Cockroach Janta Party” emerged earlier this month as a satirical online movement that gained traction across social media platforms, particularly among younger users. The online movement has gained massive popularity, with hundreds of thousands of followers on X and over 22 million followers on Instagram. The movement was born out of Supreme Court proceedings held on May 15 during which the Bench headed by CJI Surya Kant expressed concerns over unemployed young lawyers drifting away from practice toward social media and RTI activism.

5. Allahabad High Court grants bail to man accused of anti-Modi, pro-Pakistan Facebook posts

Allahabad High Court grants bail to man accused of anti-Modi, pro-Pakistan Facebook posts The Allahabad High Court recently granted bail to a man accused of uploading allegedly anti-India and pro-Paki

1. Mohseen vs. The State of Uttar Pradesh and Ors. (22.05.2026 - SC)(MANU/SC/0523/2026)

The Supreme Court of India addressed the issue of whether the High Court of Judicature at Allahabad erred in granting bail to Jeeshan, the Respondent No. 2, despite a prior Supreme Court order canceli

2. Bhikhubhai Govindbhai Patel and Ors. vs. State of Gujarat and Ors. (22.05.2026 - SC)(MANU/SC/0522/2026)

The Supreme Court of India addressed whether the High Court erred in refusing to quash FIR No. I-CR No. 504/2009 against Bhikhubhai Govindbhai Patel and others, concerning alleged criminal acts relate

3. Roshan Lal and Ors. vs. The State of Haryana and Ors. (22.05.2026 - SC)(MANU/SC/0521/2026)

The Supreme Court of India addressed whether Roshan Lal, Sajjan Singh, and Satya Prakash could be convicted under Section 307 IPC for attempting to murder Amar Singh. The court found that while the ap

4. Mallika vs. R. Nallathambi and Ors. (22.05.2026 - SC)(MANU/SC/0520/2026)

The Supreme Court of India addressed the dispute between Mallika and R. Nallathambi and others regarding the misuse of General Powers of Attorney (GPAs) for executing sale deeds of agricultural land.

5. Papan Sarkar vs. State of West Bengal (22.05.2026 - SC)(MANU/SC/0525/2026)

The Supreme Court of India addressed the appeal of Papan Sarkar and another against the State of West Bengal concerning their conviction for murder. The core issue was whether the evidence, including

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Certification Courses 3-Day Civil Drafting Workshop

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