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. The epidemic diseases act, 1897 is a law which was first enacted to tackle bubonic plague in mumbai formerly bombay in former british india. The act was initially known as banking companies act, 1949. Banking regulation act, 1949 part 1 jaiib classes bank. Read online the banking regulation act, 1949 book pdf free download link book now. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india.
Here we have listed the acts related to banking sector. Section 193 in banking regulation act,1949 3 save as provided in subsection 1 and. The banking regulation act, 1949 is a legislation in india that regulates all. Notifications 70 kb section 24 and section 56 of the banking regulation act, 1949 maintenance of statutory liquidity ratio slr. It was passed in 1949 to consolidate and amend the laws relating to banking companies. The industrial disputes banking and insurance companies act 1949. The banking regulation act 1949 extends to whole of india. Banking regulation act, 1949 bare acts law library advocatekhoj. Banking awareness questions pdf free download download. Banking regulation act, 1949 schedule iii bare act. In exercise of the powers conferred by subsection 2a of section 24 read with section 51 and section 56 of the banking regulation act, 1949 10 of 1949. The banking companies legal practitioner clients accounts act1949.
Application of certain provisions to thestate bank of india and other notified banks. Download banking regulation act 1949 by panel of experts. Download the banking regulation act, 1949 book pdf free download link or read online here in pdf. 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. 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 free download as powerpoint presentation. 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. 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. Download banking regulation act 1949 file in pdf format.
Banking regulation act, 1949 banking company bankexamstoday. 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 co. In this series of study material for bank promotion, these are brief notes on banking regulation act. It regulates and supervises the functioning of the commercial banks in india. It contained various aspects related to banking in india. 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. Discuss the salient features of the indian banking. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india.
Companies act 1956 defining company, negotiable instrument act defining public holiday. Jun 07, 2017 april 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. The law is meant for containment of epidemics by providing special powers that are required for the implementation of containment measures to control the spread of the disease. Banking regulation act, 1949 origin of the act no separate legislation till 1949.
Till 1949, controlled by indian companies act 1956. Short title, extent and commencement 1 this act may be called the banking 2 regulation act, 1949. Banking regulation act 1949 loans securities finance. Banks were under the control of indian companies act. Full text containing the act, banking regulation act, 1949, with all the sections, schedules, short title, enactment date, and footnotes. The act was changed to banking regulation act, 1949 from 1 st march, 1966. Act to apply to cooperative societies in certain cases. Scribd is the worlds largest social reading and publishing site.
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 banking regulation act, 1949 pdf book manual free. Certain provisions of the act not to apply to certain banking companies. Banking regulation act, 1949, precluding the court from scrutinising the rate of. To acquire specialized knowledge of law and practice relating to banking detailed contents. Jan 10, 2020 jaiib free online classes jaiib video lectures in hindi jaiib video lectures paper 2 jaiib video lectures jaiib legal and regulatory aspects of banking jaiib lrb banking regulation act, 1949 br. The industrial disputes banking and insurance companies act1949. Important sections in banking regulation act 1949 aspirants zone. The banking regulation act 1949 contains various provisions governing the commercial banks in india. Power of reserve bank to remove managerial and other persons from office.
The banking regulation act 1949 has 56 sections in total. Banking regulation act 1949 16 th march 1949 ramees k abdul aziz roll no. Banking law unit i llb class notes adv gr rajesh kumar. Download banking regulation act 1949 by panel of experts pdf.
Banking regulation act 1949 schedule iii citation 38791. Banking regulation act 1949 objectives paper tyari. Banking regulation act 1949 and important sections pdf. The banking regulation act came into existence in 1949. Save judgments add notes store search result sets organizer client files start your free trial today. Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. Jun 07, 2019 the banking regulation amendment act, 2017 no. The banking regulation act, 1949 reserve bank of india.
Recommendation of banking enquiry committee inadequate capital, dishonest management, speculative business a bill was introduced in parliament in march 1948. Section 61 in banking regulation act,1949 1 in addition to the business of banking, a. Download the banking regulation act, 1949 notes by pdf online. Reserve bank of india was vested with extensive powers for the supervision of banking in india as a central banking authority. Banking regulation act 1949 came into force on 16 march 1949. Due to mushrooming growth in banks with inadequate capital dishonest management speculative investment appointment of incompetent directors for long periods poor liquidity of funds. Banking regulation act 1949 private law banks scribd. Banking regulation act 1949 important sections in hindi. 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. The act vested in the reserve bank the responsibility relating to licensing of banks, branch expansion, liquidity of their assets, management and. Power of reserve bank to appoint additional directors. The other important provisions were pertaining to the. Whereas it is expedient to consolidate and amend the law relating to banking 2.
Banking regulation act, 1949 bare acts law library. Get the banking regulation act 1949 microsoft store. Banking regulation act, 1949 financial services banks. The industrial disputes banking companies decision act 1955. Jan 17, 2017 in this series of study material for bank promotion, these are brief notes on banking regulation act. The banking regulation act, 1949 came into force on march 16, 1949. 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. Short title, extent and commencement 1 this act may be called the banking 2regulation act, 1949. 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. There are many provisions of banking regulation act 1949 and we are going to the topic about business of banking companies. Result sets organizer client files start your free trial. 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. Buy banking regulation act 1949 book online at best prices in india on. Indian banking structure origin and evolution of banking institutions types and functions of banks commercial banks commercial banks functions banking companies in india rbi constitution, management and functions banking regulation act, 1949 state bank of.
Read the underlined words carefully as they are important part of definition on which questions may be based. App features complete the banking regulation act, 1949 in digital format. Banking regulation act 1949 section 51 citation 38781. 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.
The banking regulation act 1949 is a legislation in india that regulates all banking firms in. Penalties prescribed under the banking regulation act, 1949. Short title, extent and commencement the banking regulation act, 19493 act no. Download free sample and get upto 30% off on mrprental. In this backdrop, in march 1949, a special legislation, called the banking companies act, 1949, applicable exclusively to the banking companies, was passed. The law is meant for containment of epidemics by providing special powers that are required for the implementation of containment measures to control the spread of the disease the act has been routinely used to contain various diseases in india such. Initially, the law was applicable only to banking companies. Buy banking regulation act 1949 by panel of experts pdf online from faculty notes. All books are in clear copy here, and all files are secure so dont worry about it. There was initially 55 sections but in 1965 the banking regulation act 1949 was. Jan 10, 2017 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. Download free sample and get upto 75% off on mrprental.
An act to consolidate and amend the law relating to banking 2. It was passed in parliament in february 1949 and the banking regulation act 1949 came to exist. Banking regulation act 1949 and important sections pdf download. Study material for bank promotion banking regulation act. Nov 02, 2017 the banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Without prejudice to the provisions contained in section 434 of the companies act, 1956 1 of 1956 a banking company shall be deemed to be unable to pay its debts if it has refused to meet any lawful demand made at any of its offices or. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes. 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. 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. Aug 27, 2019 the banking regulation act 1949 contains various provisions governing the commercial banks in india. Banking regulation act 1949 important sections in hindi jaiib. 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.