Download banking regulation act 1949 in pdf format. Banking regulation act 1949 important sections in hindi. There are many provisions of banking regulation act 1949 and we are going to the topic about business of banking companies. Summary of some important sections is provided hereunder. Summary of important sections of banking regulation act mba. Banking regulation act, 1949 free download as powerpoint presentation. There was initially 55 sections but in 1965 the banking regulation act 1949 was amended to include cooperative banks in the 56th section.
An act to consolidate and amend the law relating to banking. Banking regulation act 1949 is legislation created to supervise all the commercial banks in india. Penalties prescribed under the banking regulation act, 1949. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes. 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. Subsituted by act 55 of 1963, section 7, for the former section 7w. App features complete the banking regulation act, 1949 in digital format. Banking regulation act 1949 schedule iii citation 38791. Aug 23, 2010 the banking regulation act was passed as the banking companies act 1949 and came into force wef 16. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Banking regulation act 1949 16 th march 1949 ramees k abdul aziz roll no.
Banking regulation act 1949 section 5 citation 38656. Regulation of paidup capital, subscribed capital and authorised capital and voting rights of shareholders. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Initially, the law was applicable only to banking companies. Act to apply to cooperative societies in certain cases 4. 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. In this backdrop, in march 1949, a special legislation, called the banking companies act, 1949, applicable exclusively to the banking companies, was passed. Banking regulation act 1949, indian bare acts, law library. Jun 07, 2019 the banking regulation amendment act, 2017 no. March, 1949 an act to consolidate and amend the law relating to banking 1 whereas it is expedient to consolidate and amend the law relating to banking 1.
What are the important rules of banking regulation act, 1949. So if you want to clear jaiib exam then from that point of view banking regulation act is very important. It regulates and supervises the functioning of the commercial banks in india. Ca final banking regulation act 1949 hand written notes in pdf format. The banking regulation act, 1949 microfinance gateway.
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. But, 1965 it was amended to make it applicable to cooperative banks. 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. This penalty of rs 50 lakh was imposed by the rbi on the bank under various sections of the banking regulation act, 1949. Banking regulation act 1949 copy reserve bank of india. 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. An act to consolidate and amend the law relating to banking 2. The banking regulation act 1949 extends to whole of india. 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. Banking regulation act, 1949 financial services banks. Download banking regulation act 1949 file in pdf format.
Short title, extent and commencement 1 this act may be called the banking 2regulation act, 1949. Banking regulation act 1949 copy free download as powerpoint presentation. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Chapter 1 addresses the question of why banks are regulated in order to establish the basic purposes, rationale, and goals for banking regulation, and to provide a framework for evaluating bank regulations. In view of large deposits and working funds of cooperative banks, certain provisions of the banking regulation act, 1949 were made applicable, by the banking laws application to cooperative societies act, 1965, to the state cooperative banks, the central cooperative banks and primary nonagricultural banks. Banking regulation act, 1949 schedule iii bare act. Companies act 1956 defining company, negotiable instrument act defining public holiday. Banking regulation act 1949 section 7 citation 38660 bare.
Some of the important sections of banking regulation acts 1949 are as under. Get the banking regulation act 1949 microsoft store. Save judgments add notes store search result sets organizer. Page division one banking regulation act, 1949 arrangement of sections 1. The act was initially enacted to regulate the banking companies. From 1 st march, 1966, it was renamed as banking regulation act, 1949.
Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. Reserve bank of india guidelines for licensing of small. Banking regulation act 1949 and important sections pdf. Banking means the acceptance of deposit for the purpose of lending or investment, the deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque. The banking regulation act 1949 supreme court struck down the circular of reserve bank of india dated february 2, 2018 as it is ultra vires to sec. In 1965, it was amended and made applicable to cooperative banks also. Mar 19, 2019 download banking regulation act 1949 in pdf format. Principal provisions of banking regulation act, 1949. 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. In this file you may find very simple hand written notes for banking regulation act 1949. Provisions of rbi act 1935, banking regulation act 1949, prevention of. The banking regulation act, 1949 is legislation in india that regulates all banking firms in india. 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 to consolidate and amend the law relating to banking 1. Banking regulation act, 1949 bare acts law library. Save judgments add notes store search result sets organizer client files start your free trial today. This act was originally enacted as banking companies act, 1949 on 16 march 1949.
Passed as the banking companies act 1949, it came into force wef 16 march 1949 and changed to banking regulations act 1949 wef 01. 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. Ca final banking regulation act 1949 hand written notes in pdf. 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. Notwithstanding that the balancesheet of a banking company is under subsection 1 required to be prepared in a form other than the form 3set out in part i of schedule vi to the companies act, 1956 1 of 1956, the requirements of that relating to the balancesheet and profit and loss account of a company shall, in so far as they are not inconsistent with this act, apply to the balance. Application of other laws not barred 3 act to apply to cooperative societies in certain cases. The following are the major steps taken by the government of india to regulate banking institutions in the country. The banking regulation act 1949 is a legislation in india that regulates all banking firms in india. To acquire specialized knowledge of law and practice relating to banking detailed contents.
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