For the first time in Indian history talaq-e-bid’a was specifically debated and set aside by the Supreme Court. In the 2002 Shamim Ara case a two-judge bench of the Apex Court had delegitimised this medieval practice only when it was not properly pronounced and preceded by attempts at reconciliation. But the latest ruling completely and unconditionally invalidates talaq-e-bid’aand renders it bad in law.
Recently, the Reserve Bank of India released the Financial Stability Report. The report presents a grim picture of bad loan problem faced by the Indian banking sector. The report also makes some pertinent recommendations with respect to addressing the big NPA issue.