Section 45 of Banking Regulation Act 1949 empowers the Reserve Bank to make a scheme of amalgamation of a bank with another bank if it is in the depositors’ interest or in the interest of overall banking system. The operation of the weak bank may be kept under moratorium for a certain period of time to ensure smooth implementation of the scheme.
If one can summarise what could be the key elements of an effective IT strategy, then it may comprise seven C’s: Codification (of IT policies and practices with flexibility built into it), Control ( over systems and processes), Continuity (of services and facilities), Confidence (about the robustness of the system), Convenience (to the customers and the staff), Cost (implying optimisation of investments made and Confidentiality (meaning protection of customer information and organizational data safety).