Government on Saturday filed an affidavit in the Supreme Court on the action taken by it on the issue of black money stashed in foreign banks. The affidavit was filed in response to a PIL filed by former law minister and eminent jurist Ram Jethmalani and five others who have been seeking a direction for the government to take action to bring back money to the tune of Rs 70 lakh crore stashed in foreign banks.
The foreign banks have won the order from the SC citing RBI guidelines.
http://www.ibnlive.com/news/foreign-banks-to-charge-30-per-cent-interest-sc/73197-7.html
A group of foreign banks have been restrained from charging interest.
http://www.ibnlive.com/news/foreign-banks-move-sc-on-interest-rates-on-credit-cards/73137-7.html
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