Cessation of “Westpac Banking Corporation” as a banking company within the meaning of sub section (2) of Section 36 A of Banking Regulation Act, 1949

Last updated: 04 September 2020

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The Reserve Bank of India has announced that Westpac Banking Corporation has ceased to be a banking company as defined by the Banking Regulation Act, 1949. This change was officially noted in a notification dated July 18, 2020, and subsequently published in the Gazette of India.

Reserve Bank of india

RBI/2020-21/31
DOR.No.Ret.BC.11/12.07.150/2020-21

September 03, 2020

All Banks

Dear Sir/Madam

Cessation of “Westpac Banking Corporation” as a banking company within the meaning of sub section (2) of Section 36 A of Banking Regulation Act, 1949

We advise that the “Westpac Banking Corporation” has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 vide Notification DOR.IBD.No.100/23.13.138/2020-21 dated July 18, 2020, which is published in the Gazette of India (Part III – Section 4) dated August 22 – August 28, 2020.

Yours faithfully

(Sudhansu Mohan Parida)
General Manager

FAQ :

The notification concerns the cessation of Westpac Banking Corporation as a banking company under India's Banking Regulation Act, 1949.

Westpac Banking Corporation ceased to be a banking company vide notification dated July 18, 2020.

The relevant act is the Banking Regulation Act, 1949, specifically sub-section (2) of Section 36A.

The notification was published in the Gazette of India, Part III – Section 4, dated August 22 – August 28, 2020.

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Notification No : RBI/2020-21/31 DOR.No.Ret.BC.11/12.07.150/2020-21
Published in Community & General
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11957&Mode=0

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