-
(a) whether some States have drafted special statutes for the protection of interests of depositors in the financial institutions;
(b) if so, the details thereof, State-wise and the number of cases in which approval has been granted by the Union Government to them;
(c) the reasons for not granting approval on the rest of the States, State-wise; and
(d) the time by which this is likely to be granted approval?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE ( SHRI NAMO NARAIN MEENA )
(a) to (d) : - So far 14 states and one Union Territory have enacted special laws for
safeguarding the interest of depositors in financial institutions. The States which have
passed the Act for protection of interests of depositors in financial establishments are
Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh,
Maharashtra, Mizoram, New Delhi, Tamilnadu, Tripura, Uttaranchal and Union Territory of
Chandigarh.
The legislations in respect of two States came under judicial scrutiny before the
respective State High Courts. RBI has reported that the appeals against Bombay High Court and
Madras High Court decisions at present are under the consideration of Supreme Court.