Ministry of Finance Department of Financial Services Not Applicable

Notification on the Banking Regulation Act 1949

Published: 30 January 2026 Download PDF

Gazette ID: CG-DL-E-30012026-269672

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Core Purpose

The Central Government declares that specific provisions of the Banking Regulation Act, 1949, shall not apply to the State Bank of India and Bank of Baroda regarding their shareholding in the Indian Digital Payment Intelligence Corporation until October 16, 2026.

Detailed Summary

The Ministry of Finance, Department of Financial Services, issued two notifications, S.O. 460(E) and S.O. 461(E), on January 30, 2026. In exercise of powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), and on the recommendation of the Reserve Bank of India, the Central Government declared that the provisions of sub-section (2) of section 19 of the said Act shall not apply to the State Bank of India (vide S.O. 460(E)) and the Bank of Baroda (vide S.O. 461(E)). This exemption applies specifically to their holdings of shares exceeding thirty percent of the paid-up capital of the 'Indian Digital Payment Intelligence Corporation' and is valid till October 16, 2026. Both notifications share the file number F. No. 7/9/2026-BOA.I and are signed by SHALINI PANDIT, Jt. Secy.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-30012026-269672 CG-DL-E-30012026-269672 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 432] NEW DELHI, FRIDAY, JANUARY 30, 2026/MAGHA 10, 1947 656 GI/2026 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 30th January, 2026 S.O. 460(E). In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government on the recommendation of the Reserve Bank of India, hereby declares that the provisions of sub-section (2) of section 19 of the said Act, shall not apply to the State Bank of India, in so far as they relate to its holding shares of an amount exceeding thirty per cent. of the paid-up capital of the 'Indian Digital Payment Intelligence Corporation' till the 16th October, 2026. [F. No. 7/9/2026-BOA.I] SHALINI PANDIT, Jt. Secy. NOTIFICATION New Delhi, the 30th January, 2026 S.O. 461(E). In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government on the recommendation of the Reserve Bank of India, hereby declares that the provisions of sub-section (2) of section 19 of the said Act, shall not apply to the Bank of Baroda, in so far as they relate to its holding shares of an amount exceeding thirty per cent. of the paid-up capital of the 'Indian Digital Payment Intelligence Corporation' till the 16th October, 2026. [F. No. 7/9/2026-BOA.I] SHALINI PANDIT, Jt. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. SARVESH KUMAR D SRIVASTAVA

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