https://www.taxtmi.com/caselaws?id=109265 Reserve Bank of India circulars restricting loans and other financial accommodation to directors of co-operative banks and their relatives operate under the Banking Regulation Act, 1949. The restrictions seek to prevent conflicts of interest, misuse of directorial position and evasion of lending prohibitions applicable to directors. Treating relatives of directors as a separate category bears a rational connection to curbing irregular bank lending and protecting public confidence in the banking system. The measures are founded on monetary and credit policy considerations, parliamentary recommendations and public interest, and are not discriminatory under Article 14. en-us Wed, 26 May 2004 00:00:00 +0530 Sat, 07 Apr 2012 11:39:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109265 Reserve Bank of India circulars restricting loans and other financial accommodation to directors of co-operative banks and their relatives operate under the Banking Regulation Act, 1949. The restrictions seek to prevent conflicts of interest, misuse of directorial position and evasion of lending prohibitions applicable to directors. Treating relatives of directors as a separate category bears a rational connection to curbing irregular bank lending and protecting public confidence in the banking system. The measures are founded on monetary and credit policy considerations, parliamentary recommendations and public interest, and are not discriminatory under Article 14. Case-Laws Companies Law Wed, 26 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109265