Regulation of Bank Subsidiaries.

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.

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