Insertion of new section 45MAA.

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..... Where any auditor fails to comply with any direction given or order made by the Bank under section 45MA, the Bank, may, if satisfied, remove or debar the auditor from exercising the duties as auditor of any of the Bank regulated entities for a maximum period of three years, at a time. . - Clauses 135 to 142 of the Bill seek to amend certain provisions of the Reserve Bank of India .....

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..... on 45MBA in the Act relating to resolution of a non-banking financial company. It is also proposed to insert a new section 45NAA in the Act relating to power of the Reserve Bank in respect of group company. It is also proposed to amend section 58B of the Act so as to enhance the existing amounts of penalty. It is also proposed to amend section 58G of the Act so as to enhance the exist .....

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