Banking regulation act 1949 bare act pdf download

The banking regulation act 1949 extends to whole of india. Require all the sets of banking and financial awareness questions for bank exam. 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. In a legal library in india and many parts of the englishspeaking world, a bare act is a document that simply codifies a law without annotation or commentary. Banking regulation act 1949 and important sections pdf. Banking regulation act 1949 schedule iii citation 38791. Buy banking regulation act 1949 by panel of experts pdf online from faculty notes. Taxmanns banking regulation act 1949 incorporated banking ombudsman scheme, cooperative banks rules, period of preservation of records, acquisition and transfer of undertakings act and banking regulation rules. 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 banking regulation act 1949 extends to the entire nation. 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. Use of words bank, banker, banking or banking company 8. Download banking regulation act 1949 file in pdf format. 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.

Banking and financial awareness questions for bank exams set 1 prem anand a 031816 4 question answer is negotiable instrument act. To acquire specialized knowledge of law and practice relating to banking detailed contents. The banking regulation act is a central legislation enacted on march 10, 1949 and came into effect on march 16, 1949 when the government of india publicized in the gazette of india for the purpose of altering and uniting the legal documents on banking. 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. Provisions of rbi act 1935, banking regulation act 1949, prevention of.

Short title, extent and commencement 1 this act may be called the banking 2regulation act, 1949. Subsection 2 of the section 19 of the banking regulation act, 1949 provides that no banking company shall hold shares in any company, whether as pledgee, mortgagee or absolute owner, of any amount exceeding 30 per cent of the paid up share capital of that company or 30 per cent of its own paidup share capital and reserves. An act to consolidate and amend the law relating to banking 1. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Banking regulation act, 1949 complete act bare act. 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.

Although every possible care has been taken to prepare the acts and rules published on bareactspdf. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. The act vested in the reserve bank the responsibility relating to licensing of banks, branch expansion, liquidity of their assets, management and. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Banking and financial awareness questions for bank exams. Form and business in which banking companies may engage. The bare act is an expression used to specify the content of law, bereft of any interpretative gloss. Banking regulation act 1949 indian bare acts india bare. Download banking regulation act 1949 by panel of experts. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks. Penalties prescribed under the banking regulation act, 1949.

Download free sample and get upto 75% off on mrprental. Buy banking regulation act 1949 book online at best prices in india on. Companies act 1956 defining company, negotiable instrument act defining public holiday. Here you can find description about banking regulation act, 1949 in hindi. Application of other laws not barred 3 act to apply to cooperative societies in certain cases. The banking regulation act, 1949 as applicable to cooperative societies objectives of the banking regulation act broadly are. Start this article has been rated as startclass on the projects quality scale. Amending act1 banking regulation amendment and miscellaneous provisions act, 2004. Whereas it is expedient to consolidate and amend the law relating to banking 2.

This penalty of rs 50 lakh was imposed by the rbi on the bank under various sections of the banking regulation act, 1949. The provisions of this act, as in force for the time being, shall apply to, or in relation to, cooperative societies as they apply to, or in relation to banking companies subject to the following modifications, namely. Bare acts in india statutes and laws free download. Banking regulation act 1949 as applicable to co operative. Every negotiable instrument shall be governed by the provisions of this act, and no usage or custom at variance with any such provision shall apply to any such instrument. Amending actii banking regulation amendment act, 2007. Form and business in which banking companies may engage 1 in addition to the business of banking, a banking company may engage in any one or more of the following forms of business, namely. The other important provisions were pertaining to the suspension of business by and winding up of the business. In this act, unless there is anything repugnant in the subject or context, a approved securities means i securities in which a trustee may invest money under clause a, clause b, clause bb, clause c or clause d of section 20 of the indian trust act, 1882 2 of 1882.

Banking regulation act 1949 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, banking regulation act 1949 national security, others, procedural and administration, property. Banking regulation act, 1949 schedule iii bare act. Act, 2002 39 of 2002 and licensed to undertake business of banking by the reserve bank under the provisions of the banking regulation act, 1949 10 of 1949. Banking regulation act, 1949 bare acts law library. Short title, extent and commencement the banking regulation act, 19493 act no. Listed in this section are acts such as the equal remuneration act, the medical termination of pregnancy act, the maternity benefit act, the prenatal diagnostic techniques regulation and prevention of misuse act, the married womens property act, the indecent representation of women prohibition act, the dowry prohibition. The banking regulation act came into existence in 1949. Banking and financial awareness questions for bank exams set 1 ajay kumar 082415 please verify the answer 4. In this article, asmita topdar pursuing diploma in entrepreneurship administration and business laws from nujs, kolkata discusses on penalties under banking regulations introduction.

Section 61 in banking regulation act,1949 1 in addition to the business of banking, a banking company may engage in any one or more of the following forms of business, namely. 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 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. Banking regulation act 1949 16 th march 1949 ramees k abdul aziz roll no.