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Parliament nod to SBI Bill

Last Updated 05 September 2011, 14:35 IST

Though the Lok Sabha had already passed the State Bank of India (Subsidiary Banks Laws) Amendment Bill and sent it to the Rajya Sabha, it came back to the Lower House today with certain amendments made by the Upper House.

The Bill was passed amid din created by the Opposition members over various issues, including the appointment of Lokayukta in Gujarat.

The transfer of powers to the Centre has been necessitated after the ownership of the SBI was transferred from the RBI to the Government.

On August 30, the Government agreed to an amendment by Piyush Goyal (BJP), who detected a technical flaw in the Bill when it came up for consideration in the Rajya Sabha.

He had pointed out that the State Bank of India (Subsidiary Banks Laws) Amendment Bill, 2009, which was before the House, was not the same that was sent to the Standing Committee.

The Lok Sabha today approved the amendment and passed the Bill.

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(Published 05 September 2011, 09:42 IST)

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