sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Mergers and Acquisitions »
 Deals of the day-Mergers and acquisitions June 21, 2018
 Department of Telecommunications set to approve Idea-Vodafone merger – all you need to know
 Deals Of The Day-Mergers And Acquisitions June 18, 2018
 Deals Of The Day-Mergers And Acquisitions June 12, 2018
 Competition Commission of India may suggest structural changes in Walmart-Flipkart deal
 What you need to know about the Government’s new M&A rules for SMEs
 The Secret to a successful M&A valuation
 How Indian IT companies are trying to survive as outsourcing business declines
 How Indian IT companies are trying to survive as outsourcing business declines
 Times Group MD against further acquisition in telecom sector; fears it will limit consumer choice
 Deals Of The Day-Mergers And Acquisitions June 5, 2018

Pranab: RBI, not competition panel, will have last say on bank M&As
March, 07th 2011

The Reserve Bank of India will have the final say on bank mergers and acquisitions (M&A), said the Finance Minister, Mr Pranab Mukherjee, on Saturday.

Banking mergers and acquisitions will not come under the purview of the Competition Act or the Companies Act. The mergers and acquisitions of banks will be under the purview of the Banking Regulation Act, Mr Mukherjee said at the National Council Meeting of the Confederation of Indian Industry.

The RBI will get the power to approve bank M&As once the Banking Laws Amendment Bill gets enacted.

Following which, M&As in the sector would not require the approval of the Competition Commission of India (CCI).

Earlier this week, the Cabinet gave its approval for the Banking Laws Amendment Bill, which is likely to be introduced in Parliament during the ongoing Budget session.

Indications are that the Bill may not be passed during the current Parliament session, as the session might be curtailed in view of the upcoming assembly elections in five States.

At the CII event, Mr Mukherjee called for support of the industry to build up political consensus for reforms in the financial sector.

The proposed legislations in the financial sector, including the Banking Laws Amendment Bill, will only be possible after the support of the political parties, he said.

Even in a multi-party democracy, we can build up a consensus on certain important issues. This is where the industry can help out the Government, said Mr Mukherjee.

The RBI had earlier expressed some reservations about the move to put bank M&As under the purview of the CCI.

Earlier on Friday, the Government had notified some key provisions on the Competition Act, giving the CCI the power to vet and approve big mergers and acquisitions in the country.

However, this did not cover the banking sector.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions