RED SIGNAL FOR BANKING ACT AMENDMENT

The Government is unlikely to table the much awaited Bill aimed at amending the Banking Regulation Act. Though the Government has come up with an ordinance to provide flexibility to the RBI in reducing the Statutory Liquidity Ratio floor, it may not be able to amend the Bill in its totality. The amendments includes aligning the voting rights of foreign stakeholders in Indian Private Sector Banks with their shareholding pattern.