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India: Govt to drop commodity trade clause from bank bill

Posted on 19 December 2012

The government will drop a controversial clause from a banking bill pending in parliament that would have allowed banks to trade in commodity futures, Parliamentary Affairs Minister Kamal Nath said on Tuesday.
Opposition to the clause threatened to stall the passing of the bill, which is aimed at drawing foreign investment into the banking sector and increasing the Reserve Bank of India’s (RBI) regulatory oversight in local banks………………………………………..Full Article: Source


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