Select Location

Banking Regulation Act, 1949

Sections

Application of certain provisions to the State Bank of India and other notified banksView Details
1Short title, extent and commencementView Details
10Prohibition of employment of Managing Agents and restrictions on certain forms of employmentView Details
10ABoard of Directors to include persons with professional or other experienceView Details
10BBanking company to be managed by whole-time ChairmanView Details
10BBPower of Reserve Bank to appoint Chairman of a banking companyView Details
10CChairman and certain Directors not to be required to hold qualification sharesView Details
10DProvisions of sections 10A and 10B to override all other laws, contracts, etcView Details
11Requirement as to minimum paid-up capital and reservesView Details
12Regulation of paid-up capital, subscribed capital and authorized capital and voting rights of shareholdersView Details
12AElection of new DirectorsView Details
13Restriction on commission, brokerage, discount, etc., on sale of sharesView Details
14Prohibition of charge on unpaid capitalView Details
14AProhibition of floating charge on assetsView Details
15Restrictions as to payment of dividendView Details
16Prohibition of common DirectorsView Details
17Reserve FundView Details
18Cash reserveView Details
19Restriction on nature of subsidiary companiesView Details
2Application of other laws not barredView Details
20Restrictions on loans and advancesView Details
20ARestrictions on power to remit debtsView Details
21Power of Reserve Bank to control advances by banking companiesView Details
21ARate of interest charged by banking companies not to be subject to scrutiny by courtsView Details
22Licensing of banking companiesView Details
23Restrictions on opening of new, and transfer of existing, places of businessView Details
24Maintenance of a percentage of assetsView Details
25Assets in IndiaView Details
26 Return of unclaimed depositsView Details
27 Monthly returns and power to call for other returns and informationView Details
28 Power to publish informationView Details
29 Accounts and balance-sheetView Details
3Act to apply to co-operative societies in certain casesView Details
30 AuditView Details
31 Submission of returnsView Details
32 Copies of balance-sheets and accounts to be sent to RegistrarView Details
33 Display of audited balance-sheet by companies incorporated outside IndiaView Details
34Accounting provisions of this Act not retrospectiveView Details
34AProduction of documents of confidential natureView Details
35InspectionView Details
35APower of the Reserve Bank to give directionsView Details
35BAmendments of provisions relating to appointments of Managing Directors, etc., to be subject to previous approval of the Reserve BankView Details
36Further powers and functions of Reserve BankView Details
36ACertain provisions of the Act not to apply to certain banking companiesView Details
36AAPower of Reserve Bank to remove managerial and other persons from officeView Details
36ABPower of Reserve Bank to appoint additional DirectorsView Details
36ACPart IIA to override other lawsView Details
36ADPunishments for certain activities in relation to banking companiesView Details
36AEPower of Central Government to acquire undertakings of banking companies in certain casesView Details
36AFPower of the Central Government to make schemeView Details
36AGCompensation to be given to shareholders of the acquired bankView Details
36AHConstitution of the TribunalView Details
36AITribunal to have powers of a civil courtView Details
36BHigh Court definedView Details
37Suspension of businessView Details
38Winding up by High CourtView Details
38ACourt liquidatorView Details
39Reserve Bank to be official liquidatorView Details
39AApplication of Companies Act to liquidatorsView Details
4Power to suspend operation of ActView Details
40Stay of proceedingsView Details
41Preliminary report by official liquidatorView Details
41ANotice to preferential claimants and secured and unsecured creditorsView Details
42Power to dispense with meetings of creditors, etcView Details
43Booked depositors' credits to be deemed provedView Details
43APreferential payments to depositorsView Details
44Power of High Court in voluntary winding upView Details
44AProcedure for amalgamation of banking companiesView Details
45Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution or amalgamationView Details
45APart IIIA to override other lawsView Details
45BPower of High Court to decide all claims in respect of banking companiesView Details
45CTransfer of pending proceedingsView Details
45DSettlement of list of debtorsView Details
45ESpecial provisions to make calls on contributoriesView Details
45FDocuments of banking company to be evidenceView Details
45GPublic examination of Directors and AuditorsView Details
45IDuty of Directors and Officers of banking company to assist in the realization of propertyView Details
45JSpecial provisions for punishing offences in relation to banking companies being wound upView Details
45LPublic examination of Directors and Auditors, etc., in respect of a banking company under schemes of arrangementView Details
45MSpecial provisions for banking companies working under schemes of arrangement at the commencement of the Amendment ActView Details
45NAppealsView Details
45OSpecial period of limitationView Details
45PReserve Bank to tender advice in winding up proceedingsView Details
45QPower to inspectView Details
45RPower to call for returns and informationView Details
45SChief Presidency Magistrate and District Magistrate to assist official liquidator in taking charge of property of banking company being wound upView Details
45TEnforcement of orders and decisions of High CourtView Details
45UPower of High Court to make rulesView Details
45VReferences to Directors, etc., shall be construed as including references to past Directors, etcView Details
45WPart II not to apply to banking companies being wound upView Details
45XValidation of certain proceedingsView Details
45YPower of Central Government to make rules for the preservation of recordsView Details
45ZReturn of paid instruments to customersView Details
45ZANomination for payment of depositors' moneyView Details
45ZBNotice of claims of other persons regarding deposits not receivableView Details
45ZCNomination for return of articles kept in safe custody with banking companyView Details
45ZDNotice of claims of other persons regarding articles not receivableView Details
45ZERelease of contents of safety lockersView Details
45ZFNotice of claims of other persons regarding safety lockers not receivableView Details
46PenaltiesView Details
46AChairman, Director, etc., to be public servants for the purposes of Chapter IX to the Indian Penal CodeView Details
47Cognizance of offencesView Details
47APower to Reserve Bank to impose penaltyView Details
48Application of finesView Details
49Special provisions for private banking companiesView Details
49ARestriction on acceptance of deposits withdrawable by chequeView Details
49BChange of name by banking companyView Details
49CAlteration of memorandum of a banking companyView Details
5InterpretationView Details
5Act to override memorandum, articles, etcView Details
50Certain claims for compensation barredView Details
52Power of Central Government to make rulesView Details
53Power to exempt in certain casesView Details
54Protection of action taken under ActView Details
55Amendment of Act 2 of 1934View Details
55APower to remove difficultiesView Details
56Act to apply to Co-operative Societies subject to modificationsView Details
6Form and business in which banking companies may engageView Details
7Use of words "bank", "banker", "banking" or "banking company"View Details
8Prohibition of tradingView Details
9Disposal of non-banking assetsView Details
FO Form B :- Form Of Profit And Loss AccountView Details
FORM BProfit and loss account for the year ended on 31st March (year)View Details
FROM AFORM OF BALANCE-SHEETView Details
FROM AForm of Balance SheetView Details
SC List Of DebtorsView Details
SC Principles Of CompensationView Details
SCHEDULE IAMENDMENTSView Details

Join Our Legal Community