Exemption from Section 19 (2) of the Banking Regulation Act, 1949 Indian Bank.

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-15012024-251344 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 159] NEW DELHI, MONDAY, JANUARY 15, 2024/PAUSHA 25, 1945 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 12th January, 2024 S.O. 166(E). In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government, on the recommendation of the Reserve Bank of India, hereby declare that the provisions of sub-section (2) of section 19 of the said Act, shall not apply to Indian Bank, in so far as they relate to its holding shares of an amount exceeding thirty per cent. of the paid-up capital of ASREC (India) Limited. 2. This exemption shall be in force till 31st March, 2025. 3. This notification shall come into force with effect from the date of its notification in the Official Gazette. [F. No. 7/11/2022-BOA.-I] SAMEER SHUKLA, Jt. Secy.