Application of certain provisions to the State Bank of India and other notified banks
View Details
1
Short title, extent and commencement
View Details
10
Prohibition of employment of Managing Agents and restrictions on certain forms of employment
View Details
10A
Board of Directors to include persons with professional or other experience
View Details
10B
Banking company to be managed by whole-time Chairman
View Details
10BB
Power of Reserve Bank to appoint Chairman of a banking company
View Details
10C
Chairman and certain Directors not to be required to hold qualification shares
View Details
10D
Provisions of sections 10A and 10B to override all other laws, contracts, etc
View Details
11
Requirement as to minimum paid-up capital and reserves
View Details
12
Regulation of paid-up capital, subscribed capital and authorized capital and voting rights of shareholders
View Details
12A
Election of new Directors
View Details
13
Restriction on commission, brokerage, discount, etc., on sale of shares
View Details
14
Prohibition of charge on unpaid capital
View Details
14A
Prohibition of floating charge on assets
View Details
15
Restrictions as to payment of dividend
View Details
16
Prohibition of common Directors
View Details
17
Reserve Fund
View Details
18
Cash reserve
View Details
19
Restriction on nature of subsidiary companies
View Details
2
Application of other laws not barred
View Details
20
Restrictions on loans and advances
View Details
20A
Restrictions on power to remit debts
View Details
21
Power of Reserve Bank to control advances by banking companies
View Details
21A
Rate of interest charged by banking companies not to be subject to scrutiny by courts
View Details
22
Licensing of banking companies
View Details
23
Restrictions on opening of new, and transfer of existing, places of business
View Details
24
Maintenance of a percentage of assets
View Details
25
Assets in India
View Details
26
Return of unclaimed
deposits
View Details
27
Monthly returns and power to call for other returns and information
View Details
28
Power to publish information
View Details
29
Accounts and balance-sheet
View Details
3
Act to apply to co-operative societies in certain cases
View Details
30
Audit
View Details
31
Submission of returns
View Details
32
Copies of balance-sheets and accounts to be sent to Registrar
View Details
33
Display of audited balance-sheet by companies incorporated outside India
View Details
34
Accounting provisions of this Act not retrospective
View Details
34A
Production of documents of confidential nature
View Details
35
Inspection
View Details
35A
Power of the Reserve Bank to give directions
View Details
35B
Amendments of provisions relating to appointments of Managing Directors, etc., to be subject to previous approval of the Reserve Bank
View Details
36
Further powers and functions of Reserve Bank
View Details
36A
Certain provisions of the Act not to apply to certain banking companies
View Details
36AA
Power of Reserve Bank to remove managerial and other persons from office
View Details
36AB
Power of Reserve Bank to appoint additional Directors
View Details
36AC
Part IIA to override other laws
View Details
36AD
Punishments for certain activities in relation to banking companies
View Details
36AE
Power of Central Government to acquire undertakings of banking companies in certain cases
View Details
36AF
Power of the Central Government to make scheme
View Details
36AG
Compensation to be given to shareholders of the acquired bank
View Details
36AH
Constitution of the Tribunal
View Details
36AI
Tribunal to have powers of a civil court
View Details
36B
High Court defined
View Details
37
Suspension of business
View Details
38
Winding up by High Court
View Details
38A
Court liquidator
View Details
39
Reserve Bank to be official liquidator
View Details
39A
Application of Companies Act to liquidators
View Details
4
Power to suspend operation of Act
View Details
40
Stay of proceedings
View Details
41
Preliminary report by official liquidator
View Details
41A
Notice to preferential claimants and secured and unsecured creditors
View Details
42
Power to dispense with meetings of creditors, etc
View Details
43
Booked depositors' credits to be deemed proved
View Details
43A
Preferential payments to depositors
View Details
44
Power of High Court in voluntary winding up
View Details
44A
Procedure for amalgamation of banking companies
View Details
45
Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution or amalgamation
View Details
45A
Part IIIA to override other laws
View Details
45B
Power of High Court to decide all claims in respect of banking companies
View Details
45C
Transfer of pending proceedings
View Details
45D
Settlement of list of debtors
View Details
45E
Special provisions to make calls on contributories
View Details
45F
Documents of banking company to be evidence
View Details
45G
Public examination of Directors and Auditors
View Details
45I
Duty of Directors and Officers of banking company to assist in the realization of property
View Details
45J
Special provisions for punishing offences in relation to banking companies being wound up
View Details
45L
Public examination of Directors and Auditors, etc., in respect of a banking company under schemes of arrangement
View Details
45M
Special provisions for banking companies working under schemes of arrangement at the commencement of the Amendment Act
View Details
45N
Appeals
View Details
45O
Special period of limitation
View Details
45P
Reserve Bank to tender advice in winding up proceedings
View Details
45Q
Power to inspect
View Details
45R
Power to call for returns and information
View Details
45S
Chief Presidency Magistrate and District Magistrate to assist official liquidator in taking charge of property of banking company being wound up
View Details
45T
Enforcement of orders and decisions of High Court
View Details
45U
Power of High Court to make rules
View Details
45V
References to Directors, etc., shall be construed as including references to past Directors, etc
View Details
45W
Part II not to apply to banking companies being wound up
View Details
45X
Validation of certain proceedings
View Details
45Y
Power of Central Government to make rules for the preservation of records
View Details
45Z
Return of paid instruments to customers
View Details
45ZA
Nomination for payment of depositors' money
View Details
45ZB
Notice of claims of other persons regarding deposits not receivable
View Details
45ZC
Nomination for return of articles kept in safe custody with banking company
View Details
45ZD
Notice of claims of other persons regarding articles not receivable
View Details
45ZE
Release of contents of safety lockers
View Details
45ZF
Notice of claims of other persons regarding safety lockers not receivable
View Details
46
Penalties
View Details
46A
Chairman, Director, etc., to be public servants for the purposes of Chapter IX to the Indian Penal Code
View Details
47
Cognizance of offences
View Details
47A
Power to Reserve Bank to impose penalty
View Details
48
Application of fines
View Details
49
Special provisions for private banking companies
View Details
49A
Restriction on acceptance of deposits withdrawable by cheque
View Details
49B
Change of name by banking company
View Details
49C
Alteration of memorandum of a banking company
View Details
5
Interpretation
View Details
5
Act to override memorandum, articles, etc
View Details
50
Certain claims for compensation barred
View Details
52
Power of Central Government to make rules
View Details
53
Power to exempt in certain cases
View Details
54
Protection of action taken under Act
View Details
55
Amendment of Act 2 of 1934
View Details
55A
Power to remove difficulties
View Details
56
Act to apply to Co-operative Societies subject to modifications
View Details
6
Form and business in which banking companies may engage
View Details
7
Use of words "bank", "banker", "banking" or "banking company"
View Details
8
Prohibition of trading
View Details
9
Disposal of non-banking assets
View Details
FO
Form B :- Form Of Profit And Loss Account
View Details
FORM B
Profit and loss account for the year ended on 31st March (year)