Banking Laws (Amendment) Bill passed by both the Houses

Banking Laws (Amendment) Bill passed by both the Houses

Both the Houses of Parliament have passed the Banking Laws (Amendment) Bill during its Winter Session, 2012. This Bill would strengthen the regulatory powers of Reserve Bank of India (RBI) and to further develop the banking sector in India.

It will also enable the nationalized banks to raise capital by issue of preference shares or rights issue or issue of bonus shares. It would also enable them to increase or decrease the authorized capital with approval from the Government and RBI without being limited by the ceiling of a maximum of Rs. 3000 crore.

Beside above, the Bill would pave the way for new bank licenses by RBI resulting in opening of new banks and branches. This would not only help in achieving the goal of financial inclusion by providing more banking facilities but would also provide extra employment opportunities to the people at large in the banking sector… Read More

Online system of booking for tours of Rashtrapati Bhavan

An online booking system was launched for tours of Rashtrapati Bhavan. New system will function on first come first serve basis. Interested people can enroll their names on starting from December 21, 2012. Entry is free, further free guide will also be provided. However, only up to 50 visitors are allowed at a time. Further, from January 1, 2013 onwards, Rashtrapati Bhavan would be open for visitors on Friday, Saturday and Sunday from 0900 hrs to 1600 hrs without any lunch break… Read More

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