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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Bill 2019: Amendments to Banking Act Allow Govt to Approve Up to 5 Full-Time Directors in Banks.</h1> Clauses 149 and 150 of the Finance (No. 2) Bill, 2019 propose amendments to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. These amendments aim to modify section 9 of the Act, granting the Central Government the authority to approve up to five full-time directors in corresponding new banks. The provisions will become effective on a date specified by the Central Government through a notification in the Official Gazette.
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