Shankar Nagesh Mutkiri Vs Reserve Bank of India (Supreme Court of India)
Invoking the jurisdiction under Article 32 of the Constitution, the petitioner seeks a direction to the Reserve Bank of India (RBI) to take steps to regulate or disable unauthorized money lending platforms; to frame guidelines to ensure oversight over digital money lenders and for banks/NBFCs which are participating with the digital lending platforms and for protecting the personal data of users.
2 The issues which are raised in the petition pertain to the policy domain. Hence, we permit the petitioner to pursue a representation before the RBI. It is for the RBI to decide as to whether and, if so, what action is necessary.
3 Leaving it open to the petitioner to do so, the petition is disposed of.
4 Pending application, if any, stands disposed of.
