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