Whether any exemption notifications have been issued for section 5 and section 6 of Competition Act, 2002 in relation to Banking Companies?

Yes, exemption notification has been issued by the Central Government for Sections 5 and 6 of the Competition Act, 2002 in relation to Banking Companies. In exercise of the powers conferred by Section 54(a) of the Competition Act, 2002, the Central Government in the public interest vide its Notification S.O. 2828(E) dated 30th August, 2017 exempts, all cases of reconstitution, transfer of the whole or any part thereof and amalgamation of nationalized banks, under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, from the application of provisions of Sections 5 and 6 of the Competition Act, 2002 for a period of ten years from the date of publication of this notification in the Official Gazette.