Nationalised Banks Exempted from CCI Approval for Merger

The Ministry of Corporate Affairs has issued a notification dated August 30, 2017 which exempted nationalized banks from the applicability of merger control regime under the Competition Law. Therefore any merger, reconstitution or transfer will require the banks to notify CCI or take its approval. The MCA has taken this step in public interest. This exemption is valid for a period of 10 years.

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