The stipulation in the Banking Regulation Act, 1949, that no shareholder of a banking company PSB or private sector bank can exercise voting rights more than 26%, is also being reviewed, sources added.
Key amendments to the Insolvency and Bankruptcy Code (IBC) to ratify the so-called pre-pack resolution scheme for MSMEs and changes in banking laws to aid privatisation figure on the economic agenda for the monsoon session of Parliament, scheduled between July 19 and August 13.
The government will also seek Parliaments nod for the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill to give time-bound access to depositors for their insured amount of Rs 5 lakh if banks go bust. It will also introduce a Bill to de-licence …
Read the full article at: https://www.financialexpress.com/economy/monsoon-session-pre-pack-insolvency-bank-privatisation-top-agenda/2289600/