Acquisition of SWIFT equity permitted for licensed Indian banks, subject to SWIFT by laws and Reserve Bank admission approval. The Reserve Bank grants a general permission permitting Indian banking companies licensed under the Banking Regulation Act to acquire shares of SWIFT, Belgium, in accordance with SWIFT by laws, provided the banking company obtains Reserve Bank permission for admission to the SWIFT User's Group in India; this insertion is made as Regulation 6D and takes effect on publication in the Official Gazette.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Acquisition of SWIFT equity permitted for licensed Indian banks, subject to SWIFT by laws and Reserve Bank admission approval.
The Reserve Bank grants a general permission permitting Indian banking companies licensed under the Banking Regulation Act to acquire shares of SWIFT, Belgium, in accordance with SWIFT by laws, provided the banking company obtains Reserve Bank permission for admission to the SWIFT User's Group in India; this insertion is made as Regulation 6D and takes effect on publication in the Official Gazette.
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