Comments
The suspense over approvals for new banking licences ended on Tuesday with the Election Commission (EC) giving a go-ahead to the RBI, which had sought its view as the election model code of conduct is in force.
“The commission is of the view that the Reserve Bank of India may take necessary action as deemed appropriate by the Bank as permissible under provisions of the Reserve Bank of India Act, Banking Regulation Act and or any other relevant law(s),” said an EC notification on Tuesday.
On Monday, Finance Minister P Chidambaram had said the RBI was only playing safe as there was no need for it to refer the issue of bank licences to the EC.
Power tariffOn revision of electricity tariffs and related orders, the EC said it had no objection to the continuance of the process required for the decision. “However, tariff award shall be made only on the completion of polls in the relevant State,” it said in a notification on March 24.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.