The Supreme Court has prepared guidelines regarding the appearance of government officers in the court. The court said in its decision that the power of criminal contempt cannot be invoked against UP officials. The process of issuing such orders of the High Court to summon such officers is contrary to the scheme envisaged by the Constitution.

Supreme Court warned the High Court

The Supreme Court has laid down detailed standard operating procedures (SOP) on how government officials should be summoned to appear before courts.

In fact, on August 16, the Central Government had suggested that only in exceptional cases, an officer should be called to court to appear personally.

Matter related to appearance of government officers

Actually, the matter is related to Allahabad High Court giving instructions to detain two IAS officers of Uttar Pradesh, Shahid Manjar Abbas Rizvi and Saryu Prasad Mishra for not following the instructions. On April 20, the Supreme Court, while hearing the case, had ordered the immediate release of both the officers. After this, the Central Government had filed an SOP in the Supreme Court regarding the appearance of government officers and given some suggestions for consideration. The court had reserved its decision regarding SOP.

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Keeping this problem of people in mind, important information related to Rs 500 note has been released by RBI, through which you will be able to easily differentiate between real and fake notes. Let us know in this news…

According to the information given by the Central Bank, the size of the original Rs 500 note is 63 mm * 150 mm. Its color is stone grey. At the same time, geometric patterns have been included in the design of the note. The note has the picture of Mahatma Gandhi in the center and the Red Fort at the back. The thing to note is that the tricolor depicted on the Red Fort on the back of the note is in its original colour.

The denomination of Rs 500 note is shown in Devanagari and English. You will see this on both the front and back sides of the note . ₹500 is also mentioned on the note in the form of a pattern in very small numbers.

Find out the difference like this-

The Rs 500 note has a panel of numbers increasing from small to capital letters on the left and bottom right sides. The note bears the signature of the Governor along with RBI’s promise clause and Mahatma Gandhi’s photograph on the right side and electrotype watermark of Rs 500 denomination. You can easily differentiate between genuine and fake notes by the changing color of the security threat on the note.

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RBI said that instead of charging interest on interest, banks should charge separately. The process of adding penal interest to the principal amount should be stopped. It has also been suggested to make the fee charged as a penalty transparent and not to charge huge charges. RBI may soon issue a new guideline regarding this rule.

According to media report, giving information about the decisions taken in the RBI MPC meeting, it was said that there is a need for transparency and proper guidelines regarding the penalty and interest rate on loans and credit cards. At present, each credit card issuing entity decides on its own interest and penalty. At present, there is no such guideline on the basis of which the decision regarding penalty and interest should be taken.

RBI will prepare a draft related to the guidelines

RBI says that it will first prepare a draft related to the guidelines. After this, it will be discussed together with different stake holders like banks, multiple entities and borrowers and then the final guideline will be issued. When the final guideline will be issued by RBI in this regard, then this rule will be applicable to all banks, NBFCs and other financial entities.

Additional interest up to 1-2% per month

Apart from credit cards, charges on various types of financial transactions including loan EMI, check bounce will be included in the purview of RBI guidelines. The aim of the Reserve Bank is to bring transparency and uniformity regarding all types of charges. At present, a penalty of up to 1-2 per cent is imposed every month for not paying the EMI on the loan on time.

Apart from this, a separate late fee charge is also collected. The rules for each entity are different. When the guidelines of RBI will be released, from then only one rule will be applicable for every entity.

The post RBI’s big relief: If the loan is not repaid on time, then heavy penalty will not have to be given first appeared on Rightsofemployees.com.