Business Services Industry
India's government to introduce Banking Regulation Act amendment bill.
Knight Ridder/Tribune Business News, December, 2004
The Economic Times, India Knight Ridder/Tribune Business News
Dec. 3--NEW DELHI -- The government will introduce a comprehensive bill during the Budget session to amend the Banking Regulation Act. Finance minister P Chidambaram told Lok Sabha today that the proposed bill would also clear up the mess in the cooperative banking sector.
Replying to a debate in the House on the Banking Regulation (Amendment) and Miscellaneous Provisions Bill, 2004, to replace an ordinance, the minister said the government had held discussions with the RBI governor.
"We expect the RBI to reply in a few weeks."
Mr Chidambaram said many of the concerns expressed by the members on streamlining the banking sector would be tackled in the proposed...
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