The government has exempted Indian Bank from the requirement to hold shares exceeding 30% in ASREC (India) Limited, an asset reconstruction company. This exemption, recommended by the Reserve Bank of India, is effective until March 31, 2025. The notification, dated January 12, states that the provisions of sub-section (2) of section 19 of the Banking Regulation Act do not apply to Indian Bank in relation to its shareholding in ASREC. Read The Rest at :
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