Government finances have come under pressure due to moderation in revenue collection and a slew of measures taken to lift growth.
Markets would remain closed on Wednesday for 'Mahatma Gandhi Jayanti'.
A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the Centre, RBI and Indiabulls.
In a statement, the central bank said PMC Bank customers can now withdraw Rs 10,000 from their account, instead of Rs 1,000.
RBI has capped cash withdrawal at Rs 1,000 per customer during this period and banned the bank from any fresh lending.
Finance secretary Rajiv Kumar discribed such social media messages as 'mischievous.'
Depositors panic as withdrawals capped at Rs 1,000 per account.
RBI Gov Shaktikanta Das was responding to a question whether his academic qualification weighed him down as the governor.
We need to think what kind of innovation we need to undertake to attain a high growth, said Niti Aayog CEO Amitabh Kant.
Economic growth hit over six-year low of 5 per cent for the first quarter ended June 2019 mainly driven by demand slowdown.