Approval to the long-awaited Banking Laws Amendment Bill by Parliament towards the end of 2012 has paved the way for enhanced banking space and may see entry of new players and mergers and acquisitions in the sector in the coming year.
A section of public sector bank employees have gone on nation-wide strike to protest the Banking Laws (Amendment) Bill, partially affecting normal banking operations in some banks.
Four bank employee unions will go on one-day strike tomorrow to protest the Banking Laws (Amendment) Bill and merger plans of banks.
Diwakar Gupta, MD & CFO, State bank of India doesn‘t expect the Banking Amendment bill to have much impact on the bank if it goes through in the Parliament.
The Lok Sabha postponed consideration and passage of the Banking Laws (Amendment) Bill, 2011 following objections by CPI leader Gurudas Dasgupta that due procedure was not followed.
The Union Cabinet today decided to retain the voting rights in the private sector banks at 10% and felt it could be raised progressively to 26% as suggested by the Standing Committee.
Former finance secretary S Narayan tells CNBC-TV18 that he is happy that the Banking Bill and Aadhaar did not get passed.