Thursday, January 17, 2013

Cabinet to propose setup of holding co for PSU banks

......the Law Ministry's opinion has been sought for making legislative changes as various acts will have to be synchronised and amendments will be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980. Besides, State Bank of India Act 1955 and SBI Subsidiaries Act 1959 will have to be synchronised with the holding company structure..........

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