Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2015

Dated February 4, 2015 | Copy of | Notification | In exercise of the powers conferred by section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Central Government, after consultation with the Reserve Bank of India, hereby makes the following Scheme further to amend the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980, namely:- 1. (1) This scheme may be called the Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2015.    (2) It shall come into force on the date of its publication in the Official Gazette. 2. In the Nationalised Bank (Management and Miscellaneous Provisions) Scheme, 1970 (hereinafter referred to as said Scheme), in clause 13,- (a) in sub-clause (2),- (i) item (A) shall be omitted; (ii) in item (B), for the words “The Managing Director” the words “The Managing Director and Chief Executive Officer” shall be ubstituted; (iii) after the item (E), the following item shall be inserted; namely:— “(F) Banks in which the post of Managing Director and Chief Executive Officer has not been operationalised, the term Managing Director and Chief Executive Officer shall be read as Chairman & Managing Director, till such time the post is operationalised.” (b) In the “Explanation” at the end, for the words “managing director” the words “Managing Director and Chief Executive Officer” shall be substituted. 3. In the said Scheme, in clause 13A- (i) in sub-clause (2), for item (a) the following item shall be substituted, namely:- “(a) The Managing Director and Chief Executive Officer;”; (ii) in sub-clause (4), for the words “Chairman and Managing Director” the words “Managing Director and Chief Executive Officer” shall be substituted; (iii) in sub-clause (6), for the words “Chairman and Managing Director” the words “Managing Director and Chief Executive Officer” shall be substituted; (iv) after sub-clause (8), following sub-clause shall be inserted, namely:- “(a) Banks in which the post of “Managing Director and Chief Executive Officer” has not been operationalised, the term “Managing Director and Chief Executive Officer” shall be read as Chairman & Managing Director, till such time the post is operationalized.” 4. In the said Scheme, in The Third Schedule, item (10) for the words “Chairman and Managing Director” the words “Managing Director and Chief Executive Officer” shall be substituted.

Sd/- (Mohammad Mustafa) Jt. Secy

S.O. 349(E) F. No. 13/1/2006-BO. I Issued by: Ministry of Finance (Department of Financial Services) New Delhi Note: The principal scheme was published vide notification number S.O. 875(E), dated the 4th November 1980 and subsequently amended vide following notifications:- Sl. No.                                      S.O.No.                       Date (1)                                                (2)                               (3) 1. S.O. 345 (E)                                                         30.04.1983 2. S.O. 145 (E)                                                        01.03.1984 3. S.O. 369 (E)                                                         27.04.1985 4. S.O. 560 (E)                                                        30.07.1985 5. S.O. 784 (E)                                                         25.10.1985 6. S.O. 923 (E)                                                         30.12.1985 7. S.O. 418 (E)                                                         11.07.1986 8. S.O. 1235 (E)                                                     31.12.1988 9. S.O. 810 (E)                                                           01.11.1992 10. S.O. 290 (E)                                                    03.04.1995 11. S.O. 908 (E)                                                    10.11.1995 12. S.O. 508 (E)                                                    05.02.1996 13. S.O. 59 (E)                                                           20.01.2000 14. S.O. 1173 (E)                                                    29.12.2000 15. S.O. 198 (E)                                                    02.03.2001 16. S.O. 252 (E)                                                     19.02.2007 17. S.O. 335 (E)                                                    08.03.2007 18. S.O. 1058 (E)                                                    29.06.2007 19. S.O. 2384 (E)                                                     15.09.2009 20. S.O. 2737 (E)                                                    05.12.2011 21. S.O. 43(E)                                                           17.12.2014