Lok Sabha passes State Banks (Repeal and Amendment) Bill, 2017

Posted on:11 Aug 2017 11:05:29
Lok Sabha passes State Banks (Repeal and Amendment) Bill, 2017
11 August 2017 Current Affairs: The Lok Sabha passed the State Banks (Repeal and Amendment) Bill, 2017. 

The bill seeks to repeal the two Acts namely State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956.

It is to amend the State Bank of India (SBI) Act, 1955 to remove references to subsidiary banks and powers of State Bank of India (SBI) to act as an agent of the RBI.

The Union Cabinet approved the merger of five associate banks along with Bharatiya Mahila Bank with SBI.

The five banks were State Bank of Bikaner, State Bank of Patiala, State Bank of Mysore, State Bank of Hyderabad and State Bank of Travancore.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 August

19 AUGUST
NEWS
18 AUGUST
NEWS
17 AUGUST
NEWS
16 AUGUST
NEWS

Current Affairs 2018 July

31 JULY
NEWS
30 JULY
NEWS
29 JULY
NEWS
28 JULY
NEWS

Current Affairs 2018 June

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS