|
The Union Cabinet today approved the proposal to amend the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 to increase the number of whole time directors from two to four, to restrict the number of shareholder directors at three and for setting up of a financial restructuring authority for potentially weak banks and to make other necessary changes to enhance flexibility to the boards of the banks and improve corporate governance.
The Bill will be introduced in the Monsoon Session of Parliament.
YSR/DS/HS/CS
|
