SBI Subsidiary Banks Bill passed by the Parliament

  • Parliament passed a Bill that attempt to shift powers to the Central Government from the RBI w.r.t. to State Bank of Hyderabad (a SBI subsidiary)
  • The Lok Sabha accepted the amendment made by the Rajya Sabha and passed the Bill
  • Albeit Lok Sabha had already passed the SBI, Subsidiary Banks Laws, Amendment Bill and sent it to the Rajya Sabha, it came back to the Lower House with some amendments made by the Upper House
  • The transfer of powers to the Centre has been called for following the possession of the SBI was transferred from the RBI to the Government



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