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Guidelines for transfer/allotment of shares in private banks
Compliance with other regulations
11. As hitherto, the RBI acknowledgement will be subject to compliance by the applicant with other applicable laws and regulations such as those issued by SEBI, DCA and IRDA.
Constitution of Independent Advisory Committee.
12. The RBI will constitute an independent Advisory Committee which will make appropriate recommendations to RBI for dealing with applications for grant of acknowledgement as indicated in paragraph 4 above.
Voting Rights etc
13. Voting rights restrictions and other related provisions of the B.R.Act will continue to be applicable as appropriate.
Applicability and effective date
14. As stated in paragraph 3, these guidelines are applicable to acknowledgement of acquisition of shares by residents and non-residents above the specified thresholds in private banks. These guidelines will be effective from the date of issue.
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