:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BANKING LAWS AMENDMENT BILL TO BENEFIT COMMERCIAL BANKS


Commercial banks, especially those in the private sector, will get a boost with government reviving plans to increase their voting rights through changes in the law. The Banking Laws Amendment Bill, 2011, will give shareholders voting rights in proportion to their holding.

As of now, the voting rights of a shareholder in a PSU bank is limited to 1% of their holding while in the case of private banks it is 10%. "Aligning ownership right with the ability to influence decision is very positive from the governance point of view and will also positive for foreign investors looking at investment opportunities here," said Naresh Takkar, MD and CEO of rating agency Icra Ltd.

SOURCE: http://articles.economictimes.indiatimes.com/2011-02-28/news/28641967_1_commercial-banks-psu-bank-voting-rights

Posted by C.B.O.A., A.P.

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