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The Act gives the RBI the power to license banks, have regulation over shareholding and voting rights of shareholders; supervise the appointment of the boards and management; regulate the operations of banks; lay down instructions for audits; control moratorium, mergers and liquidation; issue directives in the interests of public good and on ...
Financial regulation in India is governed by a number of regulatory bodies. [1] Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system.
The Union of RBI employees made a strong protest against the Narasimham II Report. [19] There were other plans by the United Forum of Bank Unions (UFBU), representing about 1.3 million bank employees in India, to meet in Delhi and to work out a plan of action in the wake of the Narasimham Committee report on banking reforms.
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India (RBI) was formed. This act along with the Companies Act , which was amended in 1936, were meant to provide a framework for the supervision of banking firms in India .
First financial company to be referred to NCLT under IBC by RBI. It was acquired by Piramal Group, and, according to the resolution plan, Piramal Capital and Housing Finance Ltd. (PCHFL) will merge with DHFL. [19] [20] [21] Reliance Capital: 6 December 2021 RBI superseded the board on Nov 29, 2021 with the intention of starting insolvency ...
The committee comprises six members – three officials of the Reserve Bank of India and three external members nominated by the government of India. They need to observe a "silent period" seven days before and after the rate decision for "utmost confidentiality". The governor of the Reserve Bank of India is the chairperson ex officio of the ...
Banks Board Bureau (BBB) (now replaced by Financial Services Institution Bureau since 2022) was an autonomous body of the Government of India [1] tasked to search and select appropriate personages for the Board of Public Sector Banks, Public Sector Financial Institutions, and Public Sector Insurance Companies and recommend measures to improve Corporate Governance in these Institutions.