**Executive Summary**
This notification, issued by the Ministry of Finance on January 30, 2026, declares exemptions to certain provisions of the Banking Regulation Act, 1949, for the State Bank of India and the Bank of Baroda. These exemptions pertain to their shareholding in the Indian Digital Payment Intelligence Corporation and are valid until October 16, 2026. The document is published in the Gazette of India.
**Key Points / Main Content**
* **Exemption for State Bank of India (SBI):**
* The Central Government, based on the recommendation of the Reserve Bank of India, declares that the provisions of sub-section (2) of section 19 of the Banking Regulation Act, 1949, do not apply to SBI.
* This exemption applies insofar as it relates to SBI's holding of shares exceeding thirty percent of the paid-up capital of the "Indian Digital Payment Intelligence Corporation".
* The exemption is valid until October 16, 2026.
* **Exemption for Bank of Baroda:**
* The Central Government, based on the recommendation of the Reserve Bank of India, declares that the provisions of sub-section (2) of section 19 of the Banking Regulation Act, 1949, do not apply to the Bank of Baroda.
* This exemption applies insofar as it relates to Bank of Baroda's holding of shares exceeding thirty percent of the paid-up capital of the "Indian Digital Payment Intelligence Corporation".
* The exemption is valid until October 16, 2026.
**Impact Analysis**
**State Bank of India (SBI)**
* **Impact:** SBI is granted an exemption from certain provisions of the Banking Regulation Act, 1949, allowing it to hold more than 30% of the paid-up capital in the Indian Digital Payment Intelligence Corporation until October 16, 2026.
* **Action Required:** SBI should ensure its shareholding activities comply with the exemption terms and conditions outlined in the notification until October 16, 2026.
**Bank of Baroda**
* **Impact:** Bank of Baroda is granted an exemption from certain provisions of the Banking Regulation Act, 1949, allowing it to hold more than 30% of the paid-up capital in the Indian Digital Payment Intelligence Corporation until October 16, 2026.
* **Action Required:** Bank of Baroda should ensure its shareholding activities comply with the exemption terms and conditions outlined in the notification until October 16, 2026.
**Reserve Bank of India (RBI)**
* **Impact:** RBI's recommendation led to the Central Government's declaration of exemptions for SBI and the Bank of Baroda.
* **Action Required:** No immediate action is explicitly required, but RBI likely needs to monitor the shareholding activities of SBI and the Bank of Baroda in relation to the Indian Digital Payment Intelligence Corporation.
Key Entities Referenced
Banking Regulation Act, 1949: The primary law being amended; sections 19(2) and 53(1) are specifically referenced.
Reserve Bank of India: The central bank whose recommendation is required for this notification.
Indian Digital Payment Intelligence Corporation: The entity for which the shareholding restrictions are being relaxed.
State Bank of India: One of the banks to which the relaxed shareholding restrictions apply to.
Bank of Baroda: One of the banks to which the relaxed shareholding restrictions apply to.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-30012026-269672
xxxGIDHxxx
CG-DLxx-ExG-I3D0E0x1x2x0 26-269672
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 432] नई दिल्ली, िुक्रिार, िनिरी 30, 2026/माघ 10, 1947
No. 432] NEW DELHI, FRIDAY, JANUARY 30, 2026/MAGHA 10, 1947
जित्त मत्रं ालय
(जित्तीय सिे ाए ं जिभाग)
अजधसचू ना
नई दिल्ली, 30 िनिरी, 2026
का.आ. 460(अ).— बैंककारी जिजनयमन अजधजनयम, 1949 (1949 का 10) की धारा 53 की उपधारा (1) द्वारा
प्रित्त िजियों का प्रयोग करते हुए, केन्द्रीय सरकार, भारतीय ररििव बैंक की जसफाररि पर एतद्द्वारा, यह घोषणा करती ह ै
दक उि अजधजनयम की धारा 19 की उपधारा (2) के उपबंध भारतीय स्ट्टेट बैंक पर लागू नहीं होंगे, िहां तक उनका संबंध
16 अिूबर, 2026 तक ‘इंजडयन जडजिटल पेमेंट इंटैलीिैंस कारपोरेिन’ की चुकता पूंिी के तीस प्रजतित से अजधक की राजि
की उसकी िेयरधाररता स ेह।ै
[फा. स. ं 7/9/2026-बीओए-I]
िाजलनी पंजडत, संयुक् त सजचि
656 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 30th January, 2026
S.O. 460(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 recommendation 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, in so far as they relate to its holding shares of an amount exceeding thirty per cent. of
the paid-up capital of the 'Indian Digital Payment Intelligence Corporation' till the 16th October, 2026.
[F. No. 7/9/2026-BOA.I]
SHALINI PANDIT, Jt. Secy.
अजधसचू ना
नई दिल्ली, 30 िनिरी, 2026
का.आ. 461(अ).— बैंककारी जिजनयमन अजधजनयम, 1949 (1949 का 10) की धारा 53 की उपधारा (1) द्वारा
प्रित्त िजियों का प्रयोग करते हुए, केन्द्रीय सरकार, भारतीय ररििव बैंक की जसफाररि पर एतद्द्वारा, यह घोषणा करती ह ै
दक उि अजधजनयम की धारा 19 की उपधारा (2) के उपबंध बैंक आफ बड़ौिा पर लागू नहीं होंगे, िहां तक उनका संबंध
16 अिूबर, 2026 तक ‘इंजडयन जडजिटल पेमेंट इंटैलीिैंस कारपोरेिन’ की चुकता पूंिी के तीस प्रजतित से अजधक की राजि
की उसकी िेयरधाररता स ेह।ै
[फा. स. ं 7/9/2026-बीओए-I]
िाजलनी पंजडत, संयुक् त सजचि
NOTIFICATION
New Delhi, the 30th January, 2026
S.O. 461(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 recommendation 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
Bank of Baroda, in so far as they relate to its holding shares of an amount exceeding thirty per cent. of the paid-up
capital of the 'Indian Digital Payment Intelligence Corporation' till the 16th October, 2026.
[F. No. 7/9/2026-BOA.I]
SHALINI PANDIT, 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.