Uttarakhand HC: Severity of POCSO Charges Alone Cannot Deny Juvenile Bail || Madras HC Grants Anticipatory Bail to Man Accused of Watching CM Vijay's Unreleased Film Online || Jharkhand HC: Interest under Employees' Compensation Act Runs From Date of Accident || Bombay HC Quashes Wakf Property Mutation as Enemy Property, Mandates Due Process || J&K&L High Court: Limitation Must be Decided Before Hearing Appeal Against 31-Year-Old Mutation || Allahabad HC Summons UP Home Secretary Over Delay in Custodial Death Compensation Guidelines || Delhi HC Differs with DPIIT Paper, Says ChatGPT Injunction Would Hurt AI Development || Supreme Court: MHADA can Enforce Developer's Rehabilitation Commitments || SC: Transfer of Defrauded Funds To Accused's Account Alone Cannot Warrant Clubbing FIRs || Supreme Court: States with Under 1,000 Consumer Cases Can Abolish Select District Commissions

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 :