The Banking Regulation Ordinance: An imperfect solution to a perfect problem?

The Banking Regulation Ordinance: An imperfect solution to a perfect problem?

President of India Pranab Mukherjee last week approved the Banking Regulation (Amendment) Ordinance, 2017, which made amendments to the Banking Regulation Act, 1949 (BRA). The Ordinance in effect gives more powers to the Reserve Bank of India which (apparently) hitherto did not exist.

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