SC: ‘Abandonment of Service is Not Voluntary Retirement’, Denying SBI Clerk Pension Benefits || Supreme Court: Stranger Affected by an Interim Order is Entitled to be Impleaded in Writ Proceedings || Supreme Court: Courts Cannot Replace an Authority’s Discretion, and Sets Aside Direction to Governor || SC: Title Suit Hit by Constructive Res Judicata if Omitted in Prior Injunction Suit Disputing Title || SC Clarifies Whether a Co-Operative Society Can Act as a Resolution Applicant under the IBC || Chhattisgarh High Court: Innocent Litigants Should Not be Penalized For Lapses by Their Lawyers || Delhi High Court: Marriage With the Victim Cannot Absolve an Accused of Rape under POCSO || J&K&L HC: Acquisition Lapses if 80% Compensation is Unpaid Before Possession under Section 17A || Delhi HC: Policy Number is Not Mandatory For LIC Details under RTI, But Basic Details are Required || SC: Courts Must Curb Unlicensed Money Lenders; Probes Need Not Wait For New Law

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 :