The Banking Laws (Amendment) Bill seeks to amend three Acts -- the Banking Regulation Act 1949, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.
The consequent changes in the comprehensive amendment Bill will pave way for corporates to set up banks in the country.
The Banking Laws (Amendment) Bill 2011 had proposed providing voting rights to investors commensurate with their shareholding in the private sector banks. At present, the voting right is capped at 10 per cent.
"It won't affect us in terms of voting rights because we already have the 10 percent cap," he said in an interview to CNBC-TV18.
Also, it may not impact other PSUs also because government's holding in most of them is higher that seventy percent and in a scenario voting is a non issue today, he added.
However, going forward if the government looks to dilute its stake in these PSUs significantly then the value of this amendment will unlock, he added.
Stay tuned for more..
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