Whether a Life-Threatening Rescue by Cop Can be Treated as Routine Duty, Madhya Pradesh HC Clarifies || Madhya Pradesh HC: Officer Cannot Oversee Department Conducting Disciplinary Proceedings Against Him || Madras High Court: POCSO Act Does Not Exempt Romantic Relationships Involving Minors || SC Upholds Haryana Rule Delaying Aid to Kin Accused of Murdering Government Employees || Supreme Court: Lokayukta Special Police is Not Exempt From RTI as an Intelligence Body || Supreme Court: Curable Irregularity in Appointments Cannot Nullify Entire Recruitment Process || SC: Dismissal, Being the Severest Punishment, Should be Imposed Only For Grave Misconduct || SC: Constructive Res Judicata Applies to Grounds Omitted Through Negligence or Inadvertence || Madras High Court: Honour Killing is a Shameful Act and an Extreme Manifestation of Casteism || Bombay High Court: Traditional Families Often Hesitate to Report Sexual Offences

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 :