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 cap
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 Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now
Already a PRO member? Login here for an ad-free experience.
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The exemption is valid for five years, from July 7, 2025, until July 7, 2030, unless withdrawn earlier.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
