SC: Suit Alleging Coercion or Undue Influence Cannot be Rejected under Order VII Rule 11 CPC || Cal HC: Once ED Attachment is Confirmed, Challenge Becomes Academic; PMLA Remedy Must be Pursued || MP HC: Pen-Drive Evidence Cannot be Introduced At a Late Trial Stage Without Proof or Relevance || Calcutta HC: Employee Can't be Stopped From Joining Rival Post-Resignation; Trade Secrets Protected || Calcutta HC: Banks Must Provide Forensic Audit Report Before Calling an Account Fraudulent || Del HC: Woman Cannot Demand Re-Entry to Abandoned Matrimonial Home if Alternate Accommodation Exists || Calcutta HC: Land Acquisition For Industrial Park is Public Purpose; Leasing to Industry is Valid || Patna HC: PwD Recruitment Must Comply With RPwD Act; Executive Resolutions Cannot Override the Law || Madras HC: Individuals Facing Criminal Trial Must Get Court Permission Even to Renew Passports || Calcutta HC: Demolition Orders Cannot be Challenged under Article 226 if a Statutory Appeal Exists

Draft guidelines for ‘on tap’ licencing of universal banks- (Reserve Bank of India) (05 May 2016)

Banking

The Reserve Bank of India took a major step towards replacing its ‘stop and go’ policy for licensing universal with a more ‘continuous’ process by releasing guidelines for the grant of licences for universal banks.

It had released a discussion paper considering the pros and cons of the new approach in 2013. Feedback on the proposals endorsed the idea for increased competition in the market.

One departure from earlier discussion has been the inclusion of resident individuals and professionals with requisite experience in banking and finance being eligible persons to promote universal banks. Large businesses, permitted to invest the bank, are excluded as eligible promoting entities.

Tags : UNIVERSAL BANK LICENCE CONTINUOUS PROCESS

Share :