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

Varun Marwah May 10 2017

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.

While the Ordinance carries the force of law, it will still need to be validated when both Houses of the Parliament meet in the next session.

By way of the Ordinance, two new sub . . .

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