Contact Mr.S.Sankaranarayanan, Deputy Secretary 044 24349452 / 24349871/ 9444419330
As you are all aware that the President of India has promulgated the ordinance for amendment to the Banking Regulation Act 1949 and was notified on 5th May 2017.
Contents of the Ordinance would be:
The Ordinance amends the Banking Regulation Act 1949 by introducing Sections 35AA and 35AB. The new sections cover the following:
- The Central Government may by order authorise the Reserve Bank of India to issue directions to banking companies to initiate an insolvency resolution process under the Insolvency and Bankruptcy Code 2016.
- RBI has been empowered to issue directions to banking companies for resolution of stressed assets
- RBI has been empowered to specify authorities or form committees along with appointing the members thereof to advice bank for the resolution of stressed assets.
To analyse and to understand the issues on the above Amendments, under the auspices of Banking Committee of the Chamber, a discussion meeting has been scheduled at 10.30 am on 20th May 2017 (Saturday) . The meeting will be held in the Conference room of the Chamber.
We are happy to inform you, that the following experts would participate & lead the discussion.
- M.R.Venkatesh, Director, GSV Care P Ltd. & Columnist
- V.Sriram, Chief Operating officer, ICRA Management Consulting Services Ltd. & Chairman, MCCI Expert Committee on Banking, Finance & Insurance
- N.S.Venkatesh, Executive Director, Lakshmi Vilas Bank & Co-Chairman, MCCI Expert Committee on Banking, Finance & Insurance.
There is no participation fee for this meeting. However confirmation from Chamber is a must.
Location MCCI Conference Room, Karumuttu Centre, First Floor, 634 Anna Salai, Chennai-35