Committees to Facilitate Easy Merger of Bank of Baroda, Vijaya Bank and Dena Bank
The three banks decided to form internal committees which will integrate the functions of the banks before the merger, on October 24, 2018. The committees will consist of the CEOs and Executive Directors of the banks. The merger was announced by the Union Finance Ministry on September 17, 2018.
The Insolvency Law Committee (ILC) Submits Report on Cross Border Insolvency
The ILC submitted the second report on the issue to Union Finance Minister Arun Jaitley, on October 22, 2018.
Special Courts for Benami Transaction Cases
A notification by the Union Government has appointed the sessions courts in 34 states in union territories to act as special courts for trial of benami transaction cases. Benami transaction is one which has been made under a fake name, or in which the owner is not aware of ownership of the property, or the person paying for the property is untraceable.