Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM)

Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM) https://www.taxtmi.com/news?id=18685 Cabinet approval establishes an Alternative Mechanism for Public Sector Bank amalgamation based on commercial considerations; board-originated proposals are placed before the AM for in-principle approval, after which banks must act in accordance with law and SEBI requirements and the final scheme will be notified by the Central Government in consultation with the Reserve Bank of India. en-us Wed, 23 Aug 2017 18:09:01 +0530 Wed, 23 Aug 2017 18:09:01 +0530 TaxTMI RSS Generator Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM) https://www.taxtmi.com/news?id=18685 Cabinet approval establishes an Alternative Mechanism for Public Sector Bank amalgamation based on commercial considerations; board-originated proposals are placed before the AM for in-principle approval, after which banks must act in accordance with law and SEBI requirements and the final scheme will be notified by the Central Government in consultation with the Reserve Bank of India. News - Wed, 23 Aug 2017 18:09:01 +0530 https://www.taxtmi.com/news?id=18685