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of <h1>Nationalized Bank Mergers Exempt from Competition Act Sections 5 & 6 for 10 Years per Central Government Decision.</h1> The Central Government has exempted all cases involving the reconstitution, transfer, or amalgamation of nationalized banks from the provisions of Sections 5 and 6 of the Competition Act, 2002. This exemption applies under the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980. The exemption is granted for a period of ten years, effective from the date of publication in the Official Gazette. This decision is made in the public interest and is authorized by the Ministry of Corporate Affairs.
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