Wednesday, Feb 23, 2005
Wednesday, Feb 23, 2005 |
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This Day That Age
Mr. Arun Chandra Guha, Minister for Revenue and Defence Expenditure, said in the Rajya Sabha on February 22 that the final recommendations of the Reserve Bank in regard to a detailed arrangement about acquiring "effective control" over the Imperial Bank of India had not yet been received. The decision to acquire effective control was taken in consultation with the Reserve Bank Governor and the RBI has been asked to formulate a detailed arrangement in this behalf. Supplementaries were asked whether the use of the words "effective control" meant that the Government had gone back on its decision to "nationalise" the bank. Mr. Guha said there was no deviation from the policy already announced.
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