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of <h1>RBI Sets Guidelines for Share Issuance by Private Banks Under Banking Regulation Act, 1949; Excludes Certain Banks.</h1> The Reserve Bank of India (RBI) issued the 2016 Directions on the issue and pricing of shares by private sector banks under the Banking Regulation Act, 1949. These Directions apply to all licensed private sector banks in India, excluding Urban Co-operative Banks, Foreign Banks, and banks under specific statutes. Banks can issue shares through public issues, private placement, rights issues, and bonus issues, subject to compliance with the Foreign Exchange Management Act, SEBI guidelines, and the Companies Act. Approval from the bank's Board or AGM is required, and specific regulatory limits must not be breached. Previous related circulars are repealed.
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