Govt. Grants Exemption to Regional Rural Banks from Complying with Provisions of Combinations under Competition Act
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- Last Updated on 21 July, 2023
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Notification No. S.O. 3238(E), Dated: 14.07.2023
The Central Government has exempted Regional Rural Banks notified u/s 23A (1) of the Regional Rural Banks Act, 1976, from the application of provisions of sections 5 and 6 of the Competition Act, 2002. This exemption is carried out in the exercise of powers conferred u/s 54 of the Competition Act, 2002 for a period of five years from the date of publication of this notification i.e., 14.07.2023. Sections 5 and 6 deal with provisions w.r.t combination and regulation of combinations.
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