………The finance minister has again promised to table the bill before Parliament, but this time he may face resistance not only from Opposition parties, but also from allies, who stall new measures. The bill also empowers the Reserve Bank of India to supersede the board of banks and has an enabling provision that no individual or an entity can acquire stake in a bank above 5% without their approval. As of now, the Reserve Bank of India exercises these options under its power to issue direction, but not under the legal framework.
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