Quick Summary
The Ministry of Finance, on the recommendation of the Reserve Bank of India (RBI), has granted a five-year exemption to IDFC First Bank Limited from the provisions of Section 19(2) of the Banking Regulation Act, 1949. The exemption allows the bank to continue holding more than 30% of the paid-up capital in Niraj Kakad Constructions Private Limited, surpassing the statutory investment limit typically imposed on banking companies. Published via Notification S.O. 3018(E) dated July 7, 2025, the ex
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
IDFC First Bank has received a five-year exemption from the Ministry of Finance regarding shareholding limits in Niraj Kakad Constructions Private Limited.
The exemption relates to Section 19(2) of the Banking Regulation Act, 1949, which typically restricts banks from holding more than 30% of the paid-up capital in a company that is not a subsidiary.
The exemption is valid for five years, from July 7, 2025, until July 7, 2030, unless withdrawn earlier.
The exemption was granted by the Ministry of Finance on the recommendation of the Reserve Bank of India (RBI).
It allows IDFC First Bank to continue holding more than 30% of the paid-up capital in Niraj Kakad Constructions Private Limited.
No, the notification clarifies that the exemption will not affect any actions taken or obligations incurred before its cessation.
CAclubindia
