Date: 2016-02-04Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by clause o of sub-section 1 of Section 6 of the Banking Regulation Act, 1949 10 of 1949, the Central Government hereby specifies
**Policy Summary:**
This notification, S.O. 368(E), issued by the Ministry of Finance, Department of Financial Services, Government of India, effective February 4, 2016, amends the Banking Regulation Act of 1949. Specifically, it exercises the powers conferred by clause (o) of subsection (1) of Section 6 of the Act. The Central Government specifies that dealing in Priority Sector Lending Certificates (PSLCs), in accordance with guidelines issued by the Reserve Bank of India (RBI), is a lawful form of business for banking companies to engage in. The notification is referenced as F. No. 7/5/2016-BOA and is signed by Mohammad Mustafa, Joint Secretary.
Key Entities Referenced
Ministry of Finance: The Indian government ministry responsible for the country's finances.
Department of Financial Services: A department within the Ministry of Finance in the Indian government.
Banking Regulation Act, 1949: An act of the Indian Parliament to regulate the Indian banking sector.
Central Government: The executive authority of the Union of India.
Priority Sector Lending Certificates PSLCs: Certificates related to priority sector lending, as specified in the notification.
Reserve Bank of India RBI: The central bank of India.
Mohammad Mustafa: Joint Secretary associated with the notification.
New Delhi: Capital of India
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PART II—Section 3—Sub-section (ii)
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PUBLISHED BY AUTHORITY
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No. 320] NEW DELHI, THURSDAY FEBRUARY 4, 2016/ MAGHA 15 , 1937
िव(cid:7004)त म(cid:7074)ं ालय
(िव(cid:7004)त ीय सवे ाएं िवभाग)
(cid:7079)ा(cid:7272)प अिधसचू ना
नई (cid:7408)द(cid:7016) ली, 4 फरवरी, 2016
का.आ. 368(अ).— ब(cid:7289)ककारी िविनयमन अिधिनयम, 1949 (1949 का 10) क(cid:7409) धारा 6 क(cid:7409) उप-धारा (1)
के ख(cid:7003)ड (ण) (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, के(cid:7008)(cid:7076)ीय सरकार, एत(cid:7375)ारा, “भारतीय (cid:7407)रजव (cid:6981) ब(cid:7289)क (cid:7367)ारा जारी
(cid:7408)दशािनदश(cid:7287) (cid:7298) के अनुसार (cid:7390)वसाय, िजसम(cid:7286) ब(cid:7289)(cid:7412)कग कंपनी को शािमल (cid:7408)कया जाना िविध संगत ह,ै के (cid:7272)प म(cid:7286)
(cid:7079)ाथिमकता(cid:7079)ा(cid:7385) (cid:6979)े(cid:7074) ऋण (cid:7079)माण-प(cid:7074) के संबंध म(cid:7286) कार(cid:6981)वाई” को िन(cid:7416)द(cid:7397) करती ह।ै
[फा. सं. 7/5/2016-बीओए]
मोह(cid:7013)मद मु(cid:7021)तफा, संयु(cid:7334) सिचव
MINISTRY OF FINANCE
(Department of Financial Services)
DRAFT NOTIFICATION
New Delhi, the 4th February, 2016
S.O. 368(E).— In exercise of the powers conferred by clause (o) of sub-section (1) of Section 6 of the
Banking Regulation Act, 1949 (10 of 1949), the Central Government hereby specifies “dealing in Priority
Sector Lending Certificates (PSLCs) in accordance with the guidelines issued by Reserve Bank of India (RBI)
as a form of business in which it is lawful for a banking company to engage”.
[F. No. 7/5/2016-BOA]
MOHAMMAD MUSTAFA, Jt. Secy.
578 GI/2016
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.