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Understanding the recent Banking Regulation (Amendment) Ordinance, 2017
09/05/2017
[Co-author: Rajeswari Sengupta]
On 4 May, the President promulgated the Banking Regulation (Amendment) Ordinance, 2017. This adds sections 35AA and 35AB to the Banking Regulation Act, 1949 ("BRA").
The first applications of this modified law are visible. Under these new provisions, the Government has issued an order ...
