Banking regulation act 1949 the reserve bank of india act 1934 3. Banking regulation act 1949 copy reserve bank of india banks. The reserve bank of india r bi was vested with extensive powers for the supervision of banking in india as the central banking authority. An act to consolidate and amend the law relating to banking 2.
Save judgments add notes store search result sets organizer client files start your free trial today. The banking regulation companies rules, 1949 1 the banking regulation companies rules, 1949 11. Study material for bank promotion banking regulation act. Jan 31, 2014 banking companies in india is governed by two main legislations. Chapter 1 addresses the question of why banks are regulated in order to establish the basic purposes, rationale, and goals for bank ing regulation, and to provide a framework for evaluating bank regulations. Banking regulation act, 1949 schedule iii bare act.
Unit five also helps in knowing the provisions of banking regulation act, 1949 which informs about the forms of business in which banking companies may engage and power of reserve bank to control advances by banking companies. This site does not host pdf files all document are the property of their respective owners. Principles governing additional regulation 49 xiii section page 100. Principal provisions of banking regulation act, 1949. The act also puts restrictions on the shareholding, directorship, voting rights and other aspects of banking companies. Banking regulation act 1949 copy reserve bank of india. Save judgments add notes store search result sets organizer. Banking laws application to cooperative societies act, 1965, certain provisions of the banking regulation act, regarding the matters relating to banking business, were extended to the urban cooperative banks also. Notwithstanding anything contained in any other law for the time being in force or in any disposition, whether testamentary or otherwise, in respect of such deposit, where a nomination made in the prescribed manner purports to confer on any person the right to receive the amount of deposit from the banking company, the nominee shall, on the death of the sole depositor or, as the case may be. Section 45f documents of banking company to be evidence. The banking regulation act 1949 extends to whole of india. Banking regulation c ompanies rules, 1949 in exercise of. Banking company as defined under section 5c of the banking regulation act, 1949 insurance company as defined under the insurance act,1938. Securities documents of title to goods land and buildings book debts life policies.
Whereas it is expedient to consolidate and amend the law relating to banking 2. Net balances in current accounts as defined in the explanation to subsection 1 of section 18 of the banking regulation act, 1949 10 of 1949 read with section 56 thereof, in excess of the balance required to be maintained by it under the said section. Introduction banking means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise. The act regulates entry into banking business by licensing. Banking regulation act 1949 law relating to banking and for regulating the banking companies and cooperative banks. The following are the major steps taken by the government of india to regulate banking institutions in the country. To acquire specialized knowledge of law and practice relating to banking detailed contents.
Jan 17, 2017 study material for bank promotion banking regulation act published by jai on january 17, 2017 january 17, 2017 in this series of study material for bank promotion, these are brief notes on banking regulation act. Study material for bank promotion banking regulation act published by jai on january 17, 2017 january 17, 2017 in this series of study material for bank promotion, these are brief notes on banking regulation act. Updated version of the companies auditors report order. Summary of some important sections is provided hereunder. On the suggestions of narsimhan committee, the banking regulation act was amended in 1993 and thus the gates for the new private sector banks were opened. The banking regulation act, 1949 reserve bank of india. An act to provide for the acquisition and transfer of the undertakings of certain banking. Banking regulation act, 1949 1 0 of 1949, and after consultation with the reserve bank, the central government is pleased to make the following rules. The banking and regulations act was enacted to safeguard the interest of the depositors and to control the abuse of powers by controlling the banks by any means necessary and to the interest of indian economy in general. Summary of important sections of banking regulation act mba.
Banking regulation act 1949 and important sections pdf. Start this article has been rated as startclass on the projects quality scale. Bulk shall correspond with the sample in the quality b. This act contains two categories of provisions a built in safeguards and b power and consequential functions and responsibilities of the reserve bank of india. The banking regulation act was passed as the banking companies act 1949 and came into force wef 16. The provisions of this act shall be in addition to, and not, save as hereunder expressly. Punishments for certain activities in relation to banking companies. Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. Provisions of rbi act 1935, banking regulation act 1949, prevention of money. Discuss the banking regulation act ppt within the law laws governing banking and insurance forums, part of the upload download banking and insurance projects and notes category.
An act to consolidate and amend the law relating to banking 1. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Law of banking, negotiable instruments and insurance. Thus, for the first time in 1966, the urban cooperative banks too came within the regulatory purview of the rbi. Banking regulation act 1949 section 51 citation 38781. Aug 23, 2010 the banking regulation act was passed as the banking companies act 1949 and came into force wef 16. The high denomination bank notes demonetisation act, 1978 the incometax act.
Banking regulation act 1949 and important sections pdf download. Banking regulation act 1949 copy free download as powerpoint presentation. Subsequently it was changed to banking regulations act 1949 wef 01. The other important provisions were pertaining to the.
Ca final banking regulation act 1949 hand written notes in pdf. Application of other laws not barred 3 act to apply to cooperative societies in certain cases. Banking regulation act 1949 private law banks scribd. It regulates and supervises the functioning of the commercial banks in india. Provisions of the banking regulation act, 1949 are not in substitution of other laws applicable, unless. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks. Short title, extent and commencement 1 this act may be called the banking 2 regulation act, 1949. Ca final banking regulation act 1949 hand written notes in pdf format.
Monetary law act, it has become necessary to publish. Hi friends as banking regulation act is quite big and it is very tedious to read thats why here im. In a series of sharing useful study material for upcoming banking exams. It is therefore in the national interest that legislative safeguards be provided so that it gives a flavour of. The other important provisions were pertaining to the suspension of business by and winding up of the business.
Download banking regulation act 1949 file in pdf format. Banking regulation act 1949 16 th march 1949 ramees k abdul aziz roll no. The banking regulation act, 1949 was passed by the parliament in the year 1949 with the aim to regulate all banks along with consolidating and amending the banking laws in india. Rate of interest charged by banking companies not to be subject to scrutiny by courts 22. Banking regulation act 1949 section 7 citation 38660 bare. The records can be maintained in any form such manual records. In this file you may find very simple hand written notes for banking regulation act 1949. Control and regulations of banks under the banking regulations act, 1949 banking is a unique industry in the sense that the bulk of its working funds are derived fiom demand and time deposits. Act to have overriding effect section 5a of the banking regulation act, 1949 provides that the provisions of this act shall have effect notwithstanding anything to the contrary contained in. Short title, extent and commencement 1 this act may be called the banking 2regulation act, 1949. Unit six will explain students about the other provisions of banking regulation act, 1949. The act vested in the reserve bank the responsibility relating to licensing of banks, branch expansion, liquidity of their assets, management and. The banking regulation act came into existence in 1949.
Companies incorporated with charitable objects, etc. Project report cma data excel format related to cash credit on. Read this article to learn about the following important principal provisions of banking regulation act, 1949 i. Banking management 7th edition pdf book manual free download. Today we are providing banking awareness handwritten notes in pdf format. There are many provisions of banking regulation act 1949 and we are going to the topic about business of banking companies. March, 1949 an act to consolidate and amend the law relating to banking 1. Restrictions on opening of new, and transfer of existing, places of business foot notes act no. Companies act 1956 defining company, negotiable instrument act defining public holiday. Subsituted by act 55 of 1963, section 7, for the former section 7w.
In addition to its traditional central banking functions, the reserve bank has certain nonmonetary functions of the nature of supervision of banks and promotion of sound banking in india. Banking law unit i llb class notes adv gr rajesh kumar. Passed as the banking companies act 1949, it came into force from 16 march 1949 and changed to banking regulation act 1949 from 1 march 1966. Law of banking, negotiable instruments and insurance prepared by fasil alemayehu and merhatbeb teklemedhn 3 this teaching material, which is prepared and presented in the form of a compilation, is organized in three parts based on the three areas of law it incorporates, i. Memorandum or articles of a banking company any agreement executed by it any resolution passed by the banking company in general meeting or by its board of directors, whether the same be registered, executed or passed, as the case may be. Part vii additional regulation of credit operations of banking institutions 99.
Download banking regulation act 1949 in pdf format. Banking regulation act 1949 free download as powerpoint presentation. A company desiring to have a licence under section 22 of the act shall apply to the principal office of the reserve bank in a form specified below, namely. Confidence is the sine qua non for its organic and orderly growth. Banking regulation act 1949 blogs, comments and archive news on. Prohibition against issue of notes by any person other than central bank 24 51. Application of certain provisions to thestate bank of india and other notified banks. Banking regulation act 1949 schedule iii citation 38791. The following points highlight the eleven provisions of banking regulation act. What links here related changes upload file special pages permanent link. The banking regulation act, 1949 as modified upto january 7, 20 contents part i preliminary section 1 short title, extent and commencement section 2 application of other laws not barred section 3 act to apply to cooperative societies in certain cases section 4 power to suspend operation of act section 5 interpretation.954 122 1351 1309 1320 714 355 1461 402 1181 609 1347 237 1546 1377 428 190 1339 919 223 273 446 336 975 308 1378 30 708 1036 844 130 401 1257 1382 826 1271 876 611