MANU/RMIC/0070/2016

Ministry : Reserve Bank of India

Department/Board : Department of Banking Regulation

Circular No. : DBR.PSBD.No.96/16.13.100/2015-2016
                   RBI/DBR/2015-2016/22

Date : 21.04.2016

Notification/ Circulars Referred : Circular DBOD.No.BC.116/08.139.001/2001-02 dated June 20, 2002 MANU/DBOD/0040/2002;DBOD.No.PSBS.BC.89/16.13.100/2004-05 dated May 11, 2005 MANU/DBOD/0034/2005

Citing Reference:
Circular DBOD.No.BC.116/08.139.001/2001-02 dated June 20, 2002 MANU/DBOD/0040/2002  Referred

DBOD.No.PSBS.BC.89/16.13.100/2004-05 dated May 11, 2005 MANU/DBOD/0034/2005  Referred

Master Direction - Amalgamation of Private Sector Banks, Directions, 2016

In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and pursuant to the Section 44A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter specified.

CHAPTER - I

PRELIMINARY

1. Short Title and Commencement.--

a. These Directions shall be called the Reserve Bank of India (Amalgamation of Private Sector Banks) Directions, 2016

b. These directions shall come into effect on the day it is placed on the official website of the Reserve Bank of India(RBI).

2. Applicability.--

a. The provisions of these Directions shall apply to all private sector banks licensed to operate in India by the RBI and to the Non-Banking Financial Companies (N........