Major News and Events of 21 April 2018

On Friday, the Reserve Bank of India amended its Know Your Customer (KYC) guidelines by making Aadhaar compulsary in conducting the due diligence of customers by all the banks and financial institutions. It has directed all the commercial banks to link the bank accounts of their customers with their Aadhaar. The Aadhaar would be the only identity proof for KYC purpose. This amendment will come into force after the approval of the Supreme Court.

The 6 sitting judges have faced strict removal procedures in the past but none of them has been removed despite serious corrution charges against them. The cases could not reach their conclusive stage as the process to remove a judge is quite complex. He can only be removed by the order of the President. A motion is required to be passed by both the Houses of Parliament by a majority of their members along with atleast two-third majority of their members present and voting. Due to the procedural reasons, these cases were never settled and the removal of these 6 judges never happened.