This notification, S.O. 3018(E), issued by the Ministry of Finance, Department of Financial Services on July 7, 2025, exempts IDFC First Bank Limited from the provision of subsection 2 of section 19 of the Banking Regulation Act, 1949. Specifically, this exemption pertains to IDFC First Bank's holding of shares exceeding thirty percent of the paid-up capital of Niraj Kakad Constructions Private Limited. The notification, enacted under the powers conferred by subsection 1 of section 53 of the Banking Regulation Act, 1949, follows a recommendation from the Reserve Bank of India. The notification is effective from its publication date in the Official Gazette and will cease to operate on July 7, 2030, except concerning actions taken or omitted before that date. The issuing authority is Ashish Madhaorao More, Joint Secretary, F. No. 7572019-BOAI.
Key Entities Referenced
Banking Regulation Act, 1949: A law that governs the banking sector in India. Specifically, section 53 and section 19 are referenced.
Reserve Bank of India: The central bank of India, which made recommendations to the Central Government regarding the applicability of certain provisions of the Banking Regulation Act, 1949 to IDFC First Bank Limited.
IDFC First Bank Limited: A bank to which certain provisions of the Banking Regulation Act, 1949 are being relaxed.
Niraj Kakad Constructions Private Limited: A private limited company whose shares are held by IDFC First Bank Limited. The notification pertains to the percentage of shares held by IDFC First Bank Limited in this company.
Ministry of Finance: The ministry responsible for the Department of Financial Services, which issued the notification.
Department of Financial Services: A department under the Ministry of Finance that deals with financial services matters. The notification was issued by this department.
New Delhi: The location where the notification was issued.
ASHISH MADHAORAO MORE: The Joint Secretary who signed the notification.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-07072025-264435
CG-DxLx-xEG-I0D7H0x7x2x0 25-264435
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असाधारण
EXTRAORDINARY
भाग II—खण्ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 2951] नई दिल्ली, सोमिार, िलु ाई 7, 2025/आषाढ़ 16, 1947
No. 2951] NEW DELHI, MONDAY, JULY 7, 2025/ASHADHA 16, 1947
जित्त मत्रं ालय
(जित्तीय सेिा जिभाग)
अजधसचू ना
नई दिल्ली, 7 िुलाई, 2025
का.आ. 3018(अ).—केन्द्रीय सरकार, बैंककारी जिजनयमन अजधजनयम, 1949 (1949 का 10) (जिसे इसमें इसके
पश्चात उक्त अजधजनयम कहा गया ह)ै की धारा 53 की उपधारा (1) द्वारा प्रित्त िजक्तयों का प्रयोग करते हुए, भारतीय
ररििव बकैं की जसफाररि पर, यह घोषणा करती ह ै दक उक्त अजधजनयम की धारा 19 की उपधारा (2) के उपबंध
आईडीएफसी फस्ट््व बकैं जलजम्ेड पर लागू नहीं होंग,े िहां तक उनका संबंध नीरि काकड़ कंस्ट्रक्िन प्राइिे् जलजम्ेड की
समाित्त पिूं ी के तीस प्रजतित से अजधक की रकम के उसके िये र धारण करने से संबंजधत ह।ै
2. यह अजधसूचना रािपत्र में इसके प्रकािन की तारीख से प्रिृत्त होगी और 7 िुलाई, 2030 की समाजि पर प्रिृत्त
नहीं रह िाएगी, जसिाय उन बातों के िो ऐसी समाजि पूिव की गई ह ैंया जिनका लोप हो गया ह।ै
[फा. सं. 7/57/2019-बीओए-I]
आिीष माधिराि मोरे, संयुक्त सजचि
4448 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 7th July, 2025.
S.O. 3018(E).—In exercise of the powers conferred by sub-section (1) of section 53 of the Banking
Regulation Act, 1949 (10 of 1949) (hereinafter referred to as the said Act), the Central Government, on the
recommendation of the Reserve Bank of India, hereby declare that the provisions of sub-section (2) of section 19 of
the said Act shall not apply to the IDFC First Bank Limited, in so far as they relate to its holding shares of an amount
exceeding thirty per cent. of the paid-up capital of Niraj Kakad Constructions Private Limited.
2. This notification shall come into force on the date of its publication in the Official Gazette and shall cease to
operate at the expiration of the 7th day of July, 2030, except as respects things done or omitted to be done before such
cesser.
[F. No. 7/57/2019-BOA-I]
ASHISH MADHAORAO MORE, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.