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Govt. exempts Regional Rural Banks from M&A purview under Competition Act

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 10th August, 2017

S.O. 2561(E).—In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Regional Rural Banks in respect of which the Central Government has issued a notification under sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976), from the application of provisions of sections 5 and 6 of the Competition Act, 2002 for a period of five years from the date of publication of this notification in the Official Gazette.

[F. No. 5/31/2015-CS]

K. V. R. MURTY, Jt. Secy.

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