Banking Regulation Ordinance, 2020


To procure security and safeguard mechanism for the money deposits in the banks. An ordinance have been promulgated, it amends section 45 Banking Regulation Act, 1949. The amendment enables scheme of reconstruction or amalgamation of a banking company for the interest of public, depositors and banking system as well as for increasing security measures so that people’s confidence on banks can be maintained.
Thus, the amending act increases the power of RBI in relation with banks.

 

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