Corporate Governance – Revised Clause 49 of the Listing Agreement

Listed Banks were to comply with the revised clause 49 of the listing agreement by 31.12.2005. In the process banks have encountered certain grey areas which need further clarification from SEBI. IBA had sent a circular vide letter No. C&I/CG/1166 dt. 24th January, 2006 seeking the comments of member banks on revised clause 49. It is proposed to have the issues deliberated in a meeting of Listed banks before taking them up with

SEBI