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 : 
|