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[CCI] Exemption Of Regional Rural Banks - Sec 5 & 6 Competition Act 2002

Ministry of Corporate Affairs (MCA) vide Notification S.O. 2561(E) dated the 10th August, 2017, has notified regarding exemption of Regional Rural banks from Section 5 and 6 of the Competition Act, 2002, which is as under:-

In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Regional Rural Banks in respect of which the Central Government has issued a notification under sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 (21 of 1976), from the application of provisions of sections 5 and 6 of the Competition Act, 2002 for a period of five years from the date of publication of this notification in the Official Gazette.

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