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. Read this article to learn about the following important principal provisions of banking regulation act, 1949 i. Nov 02, 2017 the banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Reserve bank of india act, 1934 16 banking regulation act, 1949 16 setting up of a new bank 18. 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.
The following are the major steps taken by the government of india to regulate banking institutions in the country. It contained various aspects related to banking in india. Download banking regulation act 1949 in pdf format. Sep 17, 2012 as per the banking regulation act, 1949, sec 5b, banking means. Banking regulation act 1949 objectives paper tyari.
The banking regulation act 1949 extends to whole of india. History of state bank of india and types of banks in hindi 10. 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. Provisions of rbi act 1935, banking regulation act 1949, prevention of. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Which lateron got enacted as the banking regulation act, 1949 as printed and published in bare act form with short notes by universal law publishing co. Principal provisions of banking regulation act, 1949.
Banking regulation act 1949 and important sections pdf. Employee provident fund and miscellaneous provisions act, 1952. Here you can find description about banking regulation act, 1949 in hindi. Banking regulation act 1949 schedule iii citation 38791. Full text containing the act, banking regulation act, 1949, with all the sections, schedules, short title, enactment date, and footnotes.
Ca final banking regulation act 1949 hand written notes in pdf format. An act to consolidate and amend the law relating to banking 1. 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. In india only the rbi or the central government can issue and accept promissory notes. The banking regulation act was passed as the banking companies act 1949 and came into force wef 16. In this video we have discussed banking regulation act 1949 in hindi helpful in various banking examination ibps,rbi sbi etc if found our video helpful to you anyway, then dont forget to like the. Ca final banking regulation act 1949 hand written notes in pdf. Rbi regulates entry into banking business by licensing. The act was changed to banking regulation act, 1949 from 1 st march, 1966. There are many provisions of banking regulation act 1949 and we are going to the topic about business of banking companies.
Short title, extent and commencement 1 this act may be called the banking 2regulation act, 1949. 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. Power to suspend operation of act is a part of banking regulation act, 1949. Aug 23, 2010 the banking regulation act was passed as the banking companies act 1949 and came into force wef 16.
The banking regulation act, 1949 came into force on march 16, 1949. Accepting deposits for the purpose of lending or investment, deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, drafts, and orders or. The act was initially known as banking companies act, 1949. In this series of study material for bank promotion, these are brief notes on banking regulation act. The act vested in the reserve bank the responsibility relating to licensing of banks, branch expansion, liquidity of their assets, management and.
Banking regulation act, 1949 bare acts law library. The banking regulation act 1949 contains various provisions governing the commercial banks in india. Download as ppt, pdf, txt or read online from scribd. It regulates and supervises the functioning of the commercial banks in india.
The banking regulation act, 1949 is a legislation in india that regulates all banking firms in. 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. Short title, extent and commencement 1 this act may be called the banking 2 regulation act, 1949. Section 22 states that only the rbi has the exclusive rights to issue currency notes in india. 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. Mar 19, 2019 ca final banking regulation act 1949 hand written notes in pdf format. Jun 01, 2014 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 india uti, idbi, rrbs local banks. Study material for bank promotion banking regulation act. Discuss the salient features of the indian banking. Summary of some important sections is provided hereunder. It had originally ten parts, each dealing with a specific topic. Every banking company incorporated in india, in respect of all business. Every banking company incorporated in india shall create a reserve fund and 99 shall, out of the balance of profit of each year as disclosed in the profit and loss account prepared under section 29 and before any dividend is declared. Summary of important sections of banking regulation act mba.
An act to consolidate and amend the law relating to banking 2. Banking regulation act 1949 important sections in hindi jaiib. Banking regulation act 1949 brainkart lecture notes study. Deals with power of reserve bank to appoint additional directors 17 prevention of money laundering act, 2002 pmla 17. 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. 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. Banking regulation act 1949 important sections in hindi.
Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. In this backdrop, in march 1949, a special legislation, called the banking companies act, 1949, applicable exclusively to the banking companies, was passed. Initially, the law was applicable only to banking companies. The high denomination bank notes demonetisation act, 1978 the incometax act. Banking regulation act, 1949 banking company bankexamstoday.
Section 22 only rbi has the exclusive rights to issue currency notes in india. Save judgments add notes store search result sets organizer client files start your free trial today. Jan 17, 2017 in this series of study material for bank promotion, these are brief notes on banking regulation act. 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 india uti, idbi, rrbs local banks. Summary of important sections of banking regulation act. Subsequently it was changed to banking regulations act 1949 wef 01. Important parliamentary acts related to banking sector in. Provisions of the banking regulation act, 1949 are not in substitution of other laws applicable, unless. 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. Recommendation of banking enquiry committee inadequate capital, dishonest management, speculative business a bill was introduced in parliament in march 1948. Banking regulation act, 1949, precluding the court from scrutinising the rate of. Banking regulation act 1949 free download as powerpoint presentation.
To acquire specialized knowledge of law and practice relating to banking detailed contents. 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. Penalties prescribed under the banking regulation act, 1949. Banking regulation act 1949 loans securities finance. Companies act 1956 defining company, negotiable instrument act defining public holiday. Banking regulation act, 1949 was enacted on 10 march 1949 and came to effect on 16 march 1949.
Banking regulation act 1949 16 th march 1949 ramees k abdul aziz roll no. 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. Banking regulation act 1949 brainkart lecture notes. The banking regulation act 1949 extends to the entire nation. It became applicable to jammu and kashmir from 1956. Banking law unit i llb class notes adv gr rajesh kumar. Aug 27, 2019 the banking regulation act 1949 contains various provisions governing the commercial banks in india. Business of banking companies in banking regulation act, 1949. Parti an overview of rbi act, 1934 and banking regulation act 1949 16 reserve bank of india act, 1934 16 banking regulation act, 1949 16 other important sections of banking regulation act, 1949 17 section 36ab. Act to apply to cooperative societies in certain cases. The banking regulation act was passed as the banking companies act 1949 and came into force with effect from 16. Whereas it is expedient to consolidate and amend the law relating to banking 2. Broad classification of banking structure in india with examples in hindi 8. In this file you may find very simple hand written notes for banking regulation act 1949.
It was passed in 1949 to consolidate and amend the laws relating to banking companies. Important parliamentary acts related to banking sector in india. 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. Till 1949, controlled by indian companies act 1956.
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