Central Government, after consultation with the Reserve Bank, hereby makes the following Scheme further to amend the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970:
- Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021
- In the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970, after paragraph 14, the following paragraph shall be inserted, namely:—
“14A. Special provision.—Where a nationalised bank is required by law to do any act or thing and in order to do so the recommendations or determination of, or resolution of grievances of security holders by, or in respect of any appointment, approval or review by any Committee of the Board of the bank is required, and if the Board is satisfied that quorum for meeting of such Committee cannot be met on account of either existence of any vacancy in such Committee or recusal by member thereof, the Board may do that act or thing.”
Ministry of Finance
Notification dt. 25-01-2021
Good Contribution