https://www.taxtmi.com/caselaws?id=109577 Writ interference with RBI banking policy was held inappropriate because fixation of savings bank interest rates falls within expert economic and fiscal judgment under the Banking Regulation Act, 1949. Section 35A empowers RBI to issue directions in public interest, in the interest of banking policy and to protect depositors. Judicial review is limited in economic policy matters and will lie only if the policy is contrary to statute, arbitrary, discriminatory or mala fide. As the impugned policy considered relevant factors such as depositor interests, market conditions, Government securities yields and comparative international rates, the challenge was rejected and no restraint on minimum balance charges was granted. en-us Tue, 29 Apr 2003 00:00:00 +0530 Tue, 10 Apr 2012 18:11:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109577 Writ interference with RBI banking policy was held inappropriate because fixation of savings bank interest rates falls within expert economic and fiscal judgment under the Banking Regulation Act, 1949. Section 35A empowers RBI to issue directions in public interest, in the interest of banking policy and to protect depositors. Judicial review is limited in economic policy matters and will lie only if the policy is contrary to statute, arbitrary, discriminatory or mala fide. As the impugned policy considered relevant factors such as depositor interests, market conditions, Government securities yields and comparative international rates, the challenge was rejected and no restraint on minimum balance charges was granted. Case-Laws Companies Law Tue, 29 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109577