Lok Sabha Confirms Imposition of President Rule in Manipur || AP HC: Court Possesses Limited Scope of Judicial Review in Transfer Cases on Account of Exigencies || Bom. HC: Can’t Evict Tenants Under Arbitration Act if Occupying Premises Falling under DA || Delhi High Court Passes Permanent Injunction in Favour of ‘Peak XV Partners’ || Bombay HC: Condition that Younger Candidate Would be Preferred Over Older Candidate Violates COI || Kar. HC Refuses to Entertain Petition Seeking Implementation of Circular Regarding Usage of ‘Dalit’ || Kar. HC: Rapido, Uber Can’t Operate in State Unless Relevant Guidelines Issued || Delhi HC: Preserve CCTV Footage When Complaint against Dept. Regarding Illegal Detention in Received || SC Refuses to Direct States to Establish Public Libraries || SC: To Prevent Re-Litigation, Quasi-Judicial Bodies are Bound by Principles of Res-Judicata

Revised directions for acquisition of shares and voting rights in private banks- (Reserve Bank of India) (19 Nov 2015)

MANU/RPRL/0207/2015

Banking

The Reserve Bank of India issued revised guidelines requiring prior approval for acquiring share or voting rights in private sector banks. Two amendments of note are: approval of the RBI prior to acquisition of shares or compulsorily convertible, or converting optionally convertible, debentures/bonds or voting rights; shareholders of banks with more than five per cent paid-up share capital to give an annual declaration to the bank on their ‘fit and proper’ status, or furnish information if such is not the case.

Tags : PRIVATE BANK VOTING RIGHTS ACQUISITION FIT AND PROPER

Share :