Supreme Court: Parents’ Loss Cannot Be Measured With Arithmetical Precision || Supreme Court: Registered Sale Deed Remains Valid Despite Minor Attestation Discrepancies || Calcutta High Court: Section 107 BNSS Property Attachment Cannot be Used as a Recovery Tool || Ker HC: Elected Representatives Must Swear by God or Affirm, Cannot Invoke Specific Deities in Oath || Rajasthan High Court: Ward Delimitation Must Rely on Population, Not Voter Count || SC: Readiness for Agreement Execution Must be Proven From Agreement Date, Not Only After Suit Filing || Supreme Court: Long Gap Without Similar Criminal Conduct May Mitigate Sentence || Supreme Court: Loss of Right Leg Constitutes 100% Functional Disability for a Mason || Del HC Orders Fresh All India Tennis Association Elections by Sept 30, Sets Timeline for Amendments || Bombay High Court Permits 26-Week Pregnancy Termination Due to Fetal Anomalies, Financial Hardship

Reserve Bank of India (Amalgamation of Private Sector Banks) Directions, 2016- (Reserve Bank of India) (21 Apr 2016)

MANU/RMIC/0070/2016

Banking

The Reserve Bank of India notified Master Directions regarding amalgamation of two banking companies or of a banking company and an NBFC. For both, amalgamation proposals have to be approved by two-third majorities of the total Board members, not just those forming quorum.

The Directions cover the procedure for amalgamation and enumerate the entitlements of dissenting shareholders.

Relevant : Report reviewing supervisory role of Boards MANU/DBOD/0040/2002 Guidelines for Merger /Amalgamation of Private Sector Banks MANU/DBOD/0034/2005

Tags : AMALGAMATION PRIVATE BANKS NBFC

Share :