Form and business in which banking companies may engage. The banking regulation act 1949 is a legislation in india that regulates all banking firms in india. Be it enacted by parliament in the sixtyeighth year of the republic of india as. The banking regulation amendment bill, 2017 prsindia. Government and rbis powers opening of new banks and branch licensing constitution of board of. Section 10a board of directors and what are the areas in which directors are required to be. No banking company shall carry on business in india, unless it satisfies the following conditions. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in. Initially applicable for banking companies but applicable to cooperative banks since 1965. Discuss the salient features of the indian banking. The banking regulation act, 1949 came into force on march 16, 1949. Whereas it is expedient to consolidate and amend the law relating to banking 2.
Negotiable instrument act 1881 the bankersbooks evidence act 1891 the reservebank of india act 1934 the industrial finance corporation of india act 1948 the banking companies legal practitioner clients accounts act 1949 the industrial disputes banking and insurance companies act 1949. Banking regulation act 1949 copy reserve bank of india. In the era of globalization banking sector in india is rapidly changing since 1990s due to technological. Banking the banking regulations act 1949 section 5 section 7. Act to apply to cooperative societies in certain cases. Regulation of paidup capital, subscribed capital and authorised capital and voting rights of shareholders. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Comments as provided in part v of the banking regulation act, 1949 this act is applicable to the cooperative societies. In this file you may find very simple hand written notes for banking regulation act 1949. Crisp news summaries and articles on current events about india banking regulation act 1949 for ibps, banking, upsc, civil services.
The banking regulation act, 1949 reserve bank of india. Jun 16, 2016 banking the banking regulations act 1949 section 10a section 12a section 17 and 18 class 2. Company secretaries in the banking companies formed either under the companies act 1956 or any other legislations and having banking licence from rbi under the banking regulation act 1949, have to discharge onerous responsibility not only to ensure compliance with the various statutory provisions as a. Banking regulation act, 1949 reserve bank of india. This document presents the various provisions of the banking regulations act. Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. Provisions of the banking regulation act, 1949 are not in substitution of other laws applicable, unless otherwise expressly said section 2 sub 56 b act is not applicable to 1 primary agricultural society 2 cooperative land mortgage bank 3 any other cooperative society except as provided by sec.
The act was changed to banking regulation act, 1949 from 1 st march, 1966. Mar 20, 2018 only certain provisions of that act are made applicable to such banks through section 51 of the banking regulation act, 1949, said the person cited above, elaborating on the powers that rbi has over private banks but not over staterun ones. It contained various aspects related to banking in india. Banking regulation companies rules, 1949 latest laws. Important sections in banking regulation act 1949 aspirants zone. Use of words bank, banker, banking or banking company. Negotiable instrument act1881 the bankersbooks evidence act1891 the reservebank of india act1934 the industrial finance corporation of india act1948 the banking companies legal practitioner clients accounts act1949 the industrial disputes banking and insurance companies act1949. The industrial disputes banking and insurance companies act. Full text containing the act, banking regulation act, 1949, with all the sections, schedules, short title, enactment date, and footnotes.
May 19, 2020 this penalty of rs 50 lakh was imposed by the rbi on the bank under various sections of the banking regulation act, 1949. Ca final banking regulation act 1949 hand written notes in pdf. Important sections in banking regulation act 1949 aspirants. Banking regulation act, 1949 financial services banks. Banks may ask you for your religion details 21 dec, 2019, 12. The banking regulation amendment bill, 2017 was introduced in lok sabha by the minister of finance, mr.
Initially, the law was applicable only to banking companies. The banking companies legal practitioner clients accounts act. Aug 27, 2019 the act was changed to banking regulation act, 1949 from 1 st march, 1966. During this phase, public had lesser confidence in banks and post offices were considered more safe to deposit funds. Download banking regulation act 1949 file in pdf format.
By definition, any bank which is listed in the 2nd schedule of the reserve bank of india act, 1934 is considered a scheduled bank. Requirement as to minimum paidup capital and reserves 1 notwithstanding anything contained in section 149 of the companies act, 1956, no banking company in existence on the commencement of this act, shall, after the expiry of three years from such commencement or of such further period not exceeding one year as the reserve bank, having regard to the. Mar 19, 2019 download banking regulation act 1949 in pdf format. Banking regulation act 1949 objectives paper tyari. History of the banking regulation act 1949, what are the. So if you want to clear jaiib exam then from that point of view banking regulation act is very important. Banking regulation act 1949 and important sections pdf download. 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. Banking regulation act most important sections br, act 1949. Banking regulation act, 1949 free download as powerpoint presentation. Banking regulation act 1949 and important sections updated. It empowers the reserve bank of india to license banks and work as a banking. Aug 26, 2011 provisions of the banking regulation act, 1949 are not in substitution of other laws applicable, unless otherwise expressly said section 2 sub 56 b act is not applicable to 1 primary agricultural society 2 cooperative land mortgage bank 3 any other cooperative society except as provided by sec. An act further to amend the banking regulation act, 1949.
Regulation act, 1949 10 of 1949, but defined in the companies act, 1956 1 of 1956 shall have the meanings respectively assigned to them in. An act to consolidate and amend the law relating to banking 2. History of the banking regulation act 1949, what are the applicability of. No company other than a banking company shall use as part of its name 41 or in connection with its business any of the words bank. Get the banking regulation act 1949 microsoft store.
This site is like a library, use search box in the widget to get ebook that you want. Study material for bank promotion banking regulation act. Housing act of 1949 download ebook pdf, epub, tuebl, mobi. It seeks to amend the banking regulation act, 1949 to insert provisions for handling cases related to stressed assets. Banking regulation act, 1949 bare acts law library. All the commercial banks in india scheduled and nonscheduled is regulated under banking regulation act 1949. May 24, 2017 the banking regulation act is a set of rules which govern the banking sector in india. Use of words bank, banker, banking or banking company 8.
Banking regulation act 1949 copy free download as powerpoint presentation. App features complete the banking regulation act, 1949 in digital format. As per section 5b of the banking regulation act, 1949, 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. Banking regulation act, 1949 bare acts law library advocatekhoj. Banking regulation act 1949 16 th march 1949 ramees k abdul aziz roll no. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes. Click download or read online button to get housing act of 1949 book now. The industrial disputes banking and insurance companies act1949 the state financial corporations act 1951 the reserve bank of india amendment and misc. Passed as the banking companies act 1949, it came into force wef 16 march 1949 and changed to banking regulations act 1949 wef 01. Banking the banking regulations act 1949 section 10a section 12a section 17 and 18 class 2. Separate items of legislation apply specifically to sbi, stateowned lenders and rrbs, the person. Banking regulation act doesnt wholly apply to sbi, other. The act, as amended uptodate, is a comprehensive piece of legislation aimed at the development of sound and balanced growth of banking business in the country. Here we have listed the acts related to banking sector.
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. Banking regulation act 1949 copy reserve bank of india banks. An act to consolidate and amend the law relating to banking. Phase 2 this phase of banking was between 1969 to 1991, there were several major. The government of india came up with the banking companies act in 1949. History of the banking regulation act 1949, what are. Most important sections and descriptions of banking regulation act 1949 are explained in this article which are very important in jaiib exam. This helped to streamline the functions and activities of banks.
This penalty of rs 50 lakh was imposed by the rbi on the bank under various sections of the banking regulation act, 1949. Aug 24, 2018 banking regulation act 1949 bare act epub download the banking regulation act, contents. Company secretaries in the banking companies formed either under the companies act 1956 or any other legislations and having banking licence from rbi under the banking regulation act 1949, have to discharge onerous responsibility not only to ensure compliance with the various statutory provisions as a principal officer. Download housing act of 1949 or read online books in pdf, epub, tuebl, and mobi format. India banking regulation act 1949 current affairs today. It empowers the reserve bank of india to license banks and work as a. Only certain provisions of that act are made applicable to such banks through section 51 of the banking regulation act, 1949, said the person cited above, elaborating on the powers that rbi has over private banks but not over staterun ones. Banking the banking regulations act 1949 section 10a. The banking regulation act is a set of rules which govern the banking sector in india.
An act to consolidate and amend the law relating to banking 1. Banking regulation act 1949 and important sections pdf. Latest current affairs in april, 2020 about india banking regulation act 1949. Download banking regulation act 1949 in pdf format. This will continue to be true with the pathbreaking banking legislation that was passed in 1999 and with the many revolutionary changes that are taking place in. Important acts related banking sector banking awareness. Not applicable to primary agricultural credit society and cooerative land mortgage banks and agriculture primary credit societies.
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