Tuesday, January 15, 2013

LOK SABHA GIVES NOD TO BANKING AMENDMENT BILL


  • The Bill will strengthen the sector regulator Reserve Bank of India (RBI)
  • Nationalized banks can raise capital through rights and bonus issues.
  • The Reserve Bank of India (RBI) will have the powers to supersede bank board's & inspect the books of associate enterprises or banks
  • Voting rights in private banks in line with shareholding but maximum of 26%
  • Voting rights in state - run banks raised to maximum of 10% from 1%
  • The RBI will get oversight over acquisition of shares in banking cos; prior approval would be needed in some cases.

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