Current Affairs · Corporate Acquisitions and Approvals

The Competition Commission of India (CCI) reviews acquisitions to check anti-competitive behavior, while the RBI oversees banking regulations. Which of the following statements regarding the regulators is/are correct? 1. Corporate entities acquiring significant ownership stakes in commercial banks require specific regulatory clearances from both RBI and CCI. 2. Under the Banking Regulation Act, 1949, any acquisition of 5% or more of paid-up capital or voting rights in a bank requires prior approval from the RBI. 3. The CCI is entirely subordinate to private corporate boards and cannot restrict any banking mergers.