Find various provisions of the Banking Regulation Act, on Hello Counsel. Taxmann’s Banking Regulation Act incorporated banking ombudsman scheme, co-operative banks rules, period of preservation of records, acquisition and. Read Banking Regulation Act book reviews & author details and more at Reserve Bank of India Act (Bare Act) ( Edition) by Taxmann.

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Industrial Employment Standing Orders Act Copies of balance-sheets and baniing to be sent to registrar. Application of other laws not barred.

Section13 – Restriction on commission, brokerage, discount, etc. Restrictions on power to remit debts. Licensing of banking companies.

Power of Reserve Bank to apply to Central Government for suspension ergulation business by a banking company and to prepare scheme of reconstitution or amalgamation. References to Directors, etc. Section3 – Act to apply to co-operative societies in certain cases. Restriction on nature of subsidiary companies. Notice of claims of other persons regarding safety lockers not receivable.

Right to Information Act Special provisions for private banking companies. Provided that nothing contained in this sub-section shall apply to a banking company referred to in clause a for a period of three months from such commencement. Part II not to apply to banking companies being wound up. Certain provisions of the Act not to apply to certain banking companies.

Section34 – Bwnking provisions of this Act not regulatipn. Provided further that no banking company to which this clause applies and which has only one place of business, shall be required to have paid-up capital and reserves exceeding an aggregate value of fifty thousand rupees:.

Nomination for return of articles baare in safe custody with banking company. Power of Reserve Bank to remove managerial and bre persons from office.

Section45 – Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution of amalgamation. Section45ZE – Release of contents of safety lockers. Provided barf nothing in this sub-section shall apply to the opening for a period not exceeding one month of a temporary place of business within a city, town or village or the environs thereof within which the banking company already has a place of business, for the purpose of affording banking facilities to the public on the occasion of an exhibition, a conference or a mela or any other like occasion.


Production of documents of confidential nature. Section45P – Reserve Bank to tender advice in winding up proceeding. Section43A – Preferential payments to depositors. Power of the Reserve Bank to give directions. Reserve Bank to tender advice in winding up proceedings. Monthly returns and power to axt for other returns and information. Would you like to tell us about a lower price?

Provided that nothing contained regylation this sub-clause shall apply to the payment by a banking company of— a any bonus in pursuance of a settlement or award arrived at or made under any law relating to industrial disputes or in accordance with any scheme framed by such banking company or in accordance with the usual practice prevailing in banking business; b any commission ac any qct including guarantee brokercashier-contractor, clearing and forwarding agent, auctioneer or any other person, employed by the banking company under a contract otherwise than as a regular member of the staff of the company; or iii whose remuneration is, in the opinion of the Reserve Bank, excessive; or c shall be managed by any person— i who is a director of any other company not being— a a subsidiary of the banking company, or b a company registered under section 25 of the Companies Act, 1 of Maternity Benefit Act Section33 – Display of audited balance-sheet by companies incorporated outside India.

Validation of certain proceedings. Prevention of Money Laundering Act with Rules. Securitisation and Reconstruction of Financial Assets and Enforcement Form and business in which banking companies may engage.

Professional’s Banking Regulation Act,1949 Bare Act

Power of Reserve Bank to acf advances by banking companies. Section52 – Power of Central Government to make rules. Section45Z – Return of paid instruments to customers. Public examination of Directors and Auditors. Procedure for amalgamation of banking companies. Provided ach nothing in this sub-section shall be construed as prohibiting a chairman from being a director of a subsidiary of the banking company or a director of a company registered under section 25 of the Companies Act, 1 of Provided further that in the case of every banking company to which this clause applies and which commences banking business for the first time after the commencement of the Banking Companies Amendment Act, 36 ofthe value of its paid-up capital shall not be less than five lakhs of rupees; iii if it has all its places of business in one State, one or more of which is or are situated in the city of Bombay or Calcutta, five lakhs of rupees, plus twenty-five thousand rupees in respect of each place of business situated outside the city of Bombay or Calcutta, as the case may be: Power of High Court in voluntary winding up.


Banking Regulation Act, Bare Act | Hello Counsel

Provided that bars contained in this sub-section shall apply to any banking company incorporated before the 15th day of January, I’d like to read this book on Kindle Don’t have a Kindle? Section32 – Copies of balance-sheets and accounts to be sent to registrar. Payment of Bonus Act Section45T – Enforcement of orders and decisions of High Court.

Companies Act Paperback Pocket Edition. Section35B – Amendments of provisions relating to appointments of managing directors, etc. Code of Civil Procedure Hardbound. Provided that the Reserve Bank may, in any case, on an application in writing made to it by the banking company in this behalf, extend the period for the recovery of the loan or advance until such date, not being a date beyond the period of three years from the commencement of the said section 5, and subject to such terms and conditions, as the Reserve Bank may deem fit:.