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• Issue-wise legal analysis
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Press Information Bureau
Government of India
Ministry of Finance
30-March-2012 17:23 IST
Regulation of Bank Subsidiaries
The Government has introduced the Banking Laws (Amendment) Bill, 2011 in the Lok Sabha on 22nd March, 2011. The Bill inter-alia, also seeks to empower the Reserve Bank of India (RBI) to cause inspection of any associate enterprise of a banking company and its books of accounts by one or more of its officers or employees or other persons.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today.
SS/SL
Inspection power over bank associates expanded: RBI authorised to inspect associate enterprises and their accounts under amendment. The Banking Laws (Amendment) Bill, 2011 authorises the Reserve Bank of India to cause inspection of any associate enterprise of a banking company and its books of accounts by one or more of its officers, employees or other persons appointed for that purpose, thereby extending supervisory reach to entities linked to banks.Press 'Enter' after typing page number.