This notification, S.O. 1088(E), issued by the Ministry of Finance, Department of Financial Services on March 13, 2020, declares an exemption for the State Bank of India (SBI) from subsection (2) of section 19 of the Banking Regulation Act, 1949. This exemption, granted under the authority of subsection (1) of section 53 of the same Act and on the recommendation of the Reserve Bank of India (RBI), allows SBI to hold shares in Yes Bank Limited exceeding thirty percent of Yes Bank's paid-up share capital. The exemption is valid for a period of four years from the date of the notification's publication in the Official Gazette. The notification was issued under F. No. 7/19/2020-BOA.I and signed by Amit Agrawal, Joint Secretary.
Key Entities Referenced
Banking Regulation Act, 1949: A law mentioned in the notification, specifically section 53, subsection 1, which grants powers to the Central Government.
Reserve Bank of India: An organization that made recommendations to the Central Government related to the provisions of the Banking Regulation Act, 1949.
Central Government: The governing body exercising powers conferred by the Banking Regulation Act, 1949.
State Bank of India: A bank to which certain provisions of the Banking Regulation Act, 1949, specifically subsection 2 of section 19, shall not apply for four years.
Yes Bank Limited: A bank in which the State Bank of India holds shares, with the notification pertaining to the amount exceeding thirty per cent of paid-up share capital.
Ministry of Finance: The government ministry under which the Department of Financial Services issued the notification.
Department of Financial Services: A department under the Ministry of Finance that issued the notification.
New Delhi: The location where the notification was issued.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
xxxGIDHxxx
सी.जी.-डी.एल.-अ.-13032020-218651
xxxGIDExxx
CG-DL-E-13032020-218651
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 981] नई दिल्ली, िुक्रिार, माच च13, 2020/फाल्ग नु 23, 1941
No. 981] NEW DELHI, FRIDAY, MARCH 13, 2020/PHALGUNA 23, 1941
जित्त मत्रं ालय
(जित्तीय सिे ाएं जिभाग)
अजधसचू ना
नई दिल्ली, 13 माचच, 2020
का.आ. 1088(अ).—केंद्रीय सरकार, बैंककारी जिजनयमन अजधजनयम, 1949 (1949 का 10) की धारा 53 की
उपधारा (1) द्वारा प्रित्त िजतत यक का प्रय ग करते एए, भारतीय ररििच बैंक की जसफाररिक पर यह घ षणा करती ह ै दक
उतत अजधजनयम की धारा 19 की उपधारा (2) के उपबंध भारतीय स्ट् टेट बैंक क , िहा ं तक उनका संबंध यस बैंक जलजमटेड
म,ें उसके द्वारा, उस बैंक की समाित् त िेयर पूंिी के तीस प्रजतित स े अजधक रकम के िेयरक क धारण करन े स े ह,ै इस
अजधसूचना के रािपत्र में प्रकािन की तारीख से चार िषच की अिजध के जलए लाग ूनहीं हकगे ।
[फा. सं 7/19/2020-बीओए-1]
अजमत अग्रिाल, संयुक्त सजचि
1438 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 13th March, 2020
S.O. 1088(E).—In exercise of the powers conferred by sub-section (1) of section 53 of the
Banking Regulation Act, 1949 (10 of 1949), the Central Government, on the recommendations of the
Reserve Bank of India, hereby declares that the provisions of sub-section (2) of section 19 of the said
Act shall not apply to the State Bank of India for a period of four years from the date of publication of
this notification in the Official Gazette, in so far as it relates to the holding of shares in the Yes Bank
Limited by it, of an amount exceeding thirty per cent. of the paid-up share capital of that Bank.
[F. No. 7/19/2020-BOA-1]
AMIT AGRAWAL, 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.