The Delhi High Court on Monday sought the response from the Reserve Bank of India on a public interest litigation seeking uniform banking code for foreign exchange transactions to check black money generation and benami deals.
A bench comprising Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad issued notice to the RBI and posted the matter for further hearing on March 20. It had in last April sought response from the ministries of finance, home affairs and law and justice on the petition. The petitioner, BJP leader Ashwini Kumar Upadhyay, has alleged loopholes and lapses in the current system of foreign fund transfers which, according to him, could be exploited for terror funding.
Source:
Economic Times
