........It is learnt that a recent exchange of letters between minority affairs minister K Rehman Khan and RBI Governor D Subbarao in December has given a new push to the issue, hanging fire for want of requisite changes in the existing banking laws. The RBI has been insisting that to make it possible, an amendment is required in the Banking Companies Regulation Act, 1949. This was conveyed to the finance ministry recently after Khan raised the issue with the RBI governor through a letter, dated December 5, 2012.......
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