Need to move ahead with banking amendment bill: E&Y

The introduction of a new provision related to banks participation in the commodity futures market threatens to delay the Banking Laws Amendment Bill in Parliament with Yashwant Sinha raising objections. Ashvin Parekh, partner and national leader (financial services) at Ernst & Young, says that the introduction of these new amendments should not be allowed to delay the bill since its passage is critical to the issue of new banking licences. He also adds that the passing of the SARFAESI act is positive for banks.