The Banking Regulation Act, 1949, Bare Act

The Banking Regulation Act, 1949, Bare Act

Section 1 of The Banking Regulation Act, 1949: Short title, extent and commencement.
Section 2 of The Banking Regulation Act, 1949: Application of other laws not barred.
Section 3 of The Banking Regulation Act, 1949: Act not to apply to certain cooperative societies.
Section 4 of The Banking Regulation Act, 1949: Power to suspend operation of Act.
Section 5 of The Banking Regulation Act, 1949: Interpretation.
Section 5A of The Banking Regulation Act, 1949: Act to override memorandum, articles, etc.
Section 6 of The Banking Regulation Act, 1949: Forms of business in which banking companies may engage.
Section 7 of The Banking Regulation Act, 1949: Use of words “bank”, “banker”, “banking” or “banking company”.
Section 8 of The Banking Regulation Act, 1949: Prohibition of trading.
Section 9 of The Banking Regulation Act, 1949: Disposal of non-banking assets.
Section 10 of The Banking Regulation Act, 1949: Prohibition of employment of managing agents and restrictions on certain forms of employment.
Section 10A of The Banking Regulation Act, 1949: Board of directors to include persons with professional or other experience.
Section 10B of The Banking Regulation Act, 1949: Power of Reserve Bank to appoint [[chairman of the Board of directors appointed on a whole-time basis or a managing director] of a banking company .
Section 10C of The Banking Regulation Act, 1949: Chairman and certain directors not to be required to hold qualification shares.
Section 10D of The Banking Regulation Act, 1949: Provisions of sections 10-A and 10-B to override all other laws, contracts, etc.
Section 11 of The Banking Regulation Act, 1949: Requirement as to minimum paid-up capital and reserves.
Section 12 of The Banking Regulation Act, 1949: Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders.
Section 12A of The Banking Regulation Act, 1949: Election of new directors.
Section 12B of The Banking Regulation Act, 1949: Regulation of acquisition of shares or voting rights.
Section 13 of The Banking Regulation Act, 1949: Restriction on commission, brokerage, discount, etc.
Section 14 of The Banking Regulation Act, 1949: Prohibition of charge on unpaid capital.
Section 14A of The Banking Regulation Act, 1949: Prohibition of floating charge on assets.
Section 15 of The Banking Regulation Act, 1949: Restrictions as to payment of dividend.
Section 16 of The Banking Regulation Act, 1949: Prohibition of common directors.
Section 17 of The Banking Regulation Act, 1949: Reserve Fund.
Section 18 of The Banking Regulation Act, 1949: Cash reserve.
Section 19 of The Banking Regulation Act, 1949: Restriction on nature of subsidiary companies.
Section 20 of The Banking Regulation Act, 1949: Restrictions on loans and advances.
Section 20A of The Banking Regulation Act, 1949: Restrictions on power to remit debts.
Section 21 of The Banking Regulation Act, 1949: Power of Reserve Bank to control advances by banking companies.
Section 21A of The Banking Regulation Act, 1949: Rates of interest charged by banking companies not to be subject to scrutiny by Courts.
Section 22 of The Banking Regulation Act, 1949: Licensing of banking companies.
Section 23 of The Banking Regulation Act, 1949: Restrictions on opening of new, and transfer of existing, places of business.
Section 24 of The Banking Regulation Act, 1949: Maintenance of a percentage of assets.
Section 25 of The Banking Regulation Act, 1949: Assets in India.
Section 26 of The Banking Regulation Act, 1949: Return of unclaimed deposits.
Section 26A of The Banking Regulation Act, 1949: Establishment of Depositor Education and Awareness Fund.
Section 27 of The Banking Regulation Act, 1949: Monthly returns and power to call for other returns and information.
Section 28 of The Banking Regulation Act, 1949: Power to publish information.
Section 29 of The Banking Regulation Act, 1949: Accounts and balance-sheet.
Section 29A of The Banking Regulation Act, 1949: Power in respect of associate enterprises.
Section 30 of The Banking Regulation Act, 1949: Audit.
Section 31 of The Banking Regulation Act, 1949: Submission of returns.
Section 32 of The Banking Regulation Act, 1949: Copies of balance-sheets and accounts to be sent to Registrar.
Section 33 of The Banking Regulation Act, 1949: Display of audited balance-sheet by companies incorporated [outside India].
Section 34 of The Banking Regulation Act, 1949: Accounting provisions of this Act not retrospective.
Section 34A of The Banking Regulation Act, 1949: Production of documents of confidential nature.
Section 35 of The Banking Regulation Act, 1949: Inspection.
Section 35A of The Banking Regulation Act, 1949: Power of the Reserve Bank to give directions.
Section 35AA of The Banking Regulation Act, 1949: Power of Central Government to authorise Reserve Bank for issuing directions to banking companies to initiate insolvency resolution process.
Section 35B of The Banking Regulation Act, 1949: Amendments of provisions relating to appointments of managing directors, etc.
Section 36 of The Banking Regulation Act, 1949: Further powers and functions of Reserve Banks.
Section 36A of The Banking Regulation Act, 1949: Certain provisions of the Act not to apply to certain banking companies.
Section 36AA of The Banking Regulation Act, 1949: Power of Reserve Bank to remove managerial and other persons from office.
Section 36AB of The Banking Regulation Act, 1949: Power of Reserve Bank to appoint additional directors.
Section 36AC of The Banking Regulation Act, 1949: Part II-A to override other laws.
Section 36AD of The Banking Regulation Act, 1949: Punishments for certain activities in relation to banking companies.
Section 36AE of The Banking Regulation Act, 1949: Power of Central Government to acquire undertakings of banking companies in certain cases.
Section 36AF of The Banking Regulation Act, 1949: Power of the Central Government to make scheme.
Section 36AG of The Banking Regulation Act, 1949: Compensation to be given to shareholders of the acquired bank.
Section 36AH of The Banking Regulation Act, 1949: Constitution of the Tribunal.
Section 36AI of The Banking Regulation Act, 1949: Tribunal to have powers of a Civil Court.
Section 36AJ of The Banking Regulation Act, 1949: Procedure of the Tribunal.
Section 36B of The Banking Regulation Act, 1949: High Court defined.
Section 37 of The Banking Regulation Act, 1949: Suspension of business.
Section 38 of The Banking Regulation Act, 1949: Winding up by High Court.
Section 38A of The Banking Regulation Act, 1949: Court liquidator.
Section 39 of The Banking Regulation Act, 1949: Reserve Bank to be official liquidator.
Section 39A of The Banking Regulation Act, 1949: Application of Companies Act to liquidators.
Section 40 of The Banking Regulation Act, 1949: Stay of proceedings.
Section 41 of The Banking Regulation Act, 1949: Preliminary report by official liquidator.
Section 41A of The Banking Regulation Act, 1949: Notice to preferential claimants and secured and unsecured creditors.
Section 42 of The Banking Regulation Act, 1949: Power to dispense with meetings of creditors, etc.
Section 43 of The Banking Regulation Act, 1949: Booked depositors’ credits to be deemed proved.
Section 43A of The Banking Regulation Act, 1949: Preferential payments to depositors.
Section 44 of The Banking Regulation Act, 1949: Powers of High Court in voluntary winding up.
Section 44A of The Banking Regulation Act, 1949: Procedure for amalgamation of banking companies.
Section 44B of The Banking Regulation Act, 1949: Restriction on compromise or arrangement between banking company and creditors.
Section 45 of The Banking Regulation Act, 1949: Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of [reconstruction] or amalgamation.
Section 45A of The Banking Regulation Act, 1949: Part III-A to override other laws.
Section 45B of The Banking Regulation Act, 1949: Power of High Court to decide all claims in respect of banking companies.
Section 45C of The Banking Regulation Act, 1949: Transfer of pending proceedings.
Section 45D of The Banking Regulation Act, 1949: Settlement of list of debtors.
Section 45E of The Banking Regulation Act, 1949: Special provisions to make calls on contributories.
Section 45F of The Banking Regulation Act, 1949: Documents of banking company to be evidence.
Section 45G of The Banking Regulation Act, 1949: Public examination of directors and auditors.
Section 45H of The Banking Regulation Act, 1949: Special provisions for assessing damages against delinquent directors, etc.
Section 45I of The Banking Regulation Act, 1950: Duty of directors and officers of banking company to assist in the realisation of property.
Section 45J of The Banking Regulation Act, 1951: Special provisions for punishing offences in relation to banking companies being wound up.
Section 45K of The Banking Regulation Act, 1952: Power of High Court to enforce schemes of arrangements, etc.
Section 45L of The Banking Regulation Act, 1953: Public examination of directors and auditors, etc.
Section 45M of The Banking Regulation Act, 1954: Special provisions for banking companies working under schemes of arrangement at the commencement of the Amendment Act.
Section 45N of The Banking Regulation Act, 1955: Appeals.
Section 45O of The Banking Regulation Act, 1956: Special period of limitation.
Section 45P of The Banking Regulation Act, 1957: Reserve Bank to tender advice in winding up proceedings.
Section 45Q of The Banking Regulation Act, 1958: Power to inspect.
Section 45R of The Banking Regulation Act, 1959: Power to call for returns and information.
Section 45S of The Banking Regulation Act, 1960: Chief Presidency Magistrate and District Magistrate to assist official liquidator in taking charge of property of banking company being wound up.
Section 45T of The Banking Regulation Act, 1961: Enforcement of orders and decisions of High Court.
Section 45U of The Banking Regulation Act, 1962: Power of High Court to make rules.
Section 45V of The Banking Regulation Act, 1963: References to directors, etc.
Section 45W of The Banking Regulation Act, 1964: Part II not to apply to banking companies being wound up.
Section 45X of The Banking Regulation Act, 1965: Validation of certain proceedings.
Section 45y of The Banking Regulation Act, 1966: Power of Central Government to make rules for the preservation of records.
Section 45Z of The Banking Regulation Act, 1967: Return of paid instruments to customers.
Section 45ZA of The Banking Regulation Act, 1968: Nomination for payment of depositors’ money.
Section 45ZB of The Banking Regulation Act, 1969: Notice of claims of other persons regarding deposits not receivable.
Section 45ZC of The Banking Regulation Act, 1970: Nomination for return of articles kept in safe custody with banking company.
Section 45ZD of The Banking Regulation Act, 1971: Notice of claims of other persons regarding articles not receivable.
Section 45ZE of The Banking Regulation Act, 1972: Release of contents of safety lockers.
Section 45ZF of The Banking Regulation Act, 1973: Notice of claims of other persons regarding safety lockers not receivable.
Section 46 of The Banking Regulation Act, 1974: Penalties.
Section 46A of The Banking Regulation Act, 1974: Chairman, director, etc.
Section 47 of The Banking Regulation Act, 1949: Cognizance of offences.
Section 47A of The Banking Regulation Act, 1949: Power of Reserve Bank to impose penalty.
Section 48 of The Banking Regulation Act, 1949: Application of fines.
Section 49 of The Banking Regulation Act, 1949: Special provisions for private banking companies.
Section 49A of The Banking Regulation Act, 1949: Restriction on acceptance of deposits withdrawable by cheque.
Section 49B of The Banking Regulation Act, 1949: Change of name by a banking company.
Section 49C of The Banking Regulation Act, 1949: Alteration of memorandum of a banking company.
Section 50 of The Banking Regulation Act, 1949: Certain claims for compensation barred.
Section 51 of The Banking Regulation Act, 1949: Application of certain provisions to the State Bank of India and other notified banks.
Section 51A of The Banking Regulation Act, 1949: Powers of Reserve Bank not to apply to International Financial Services Centre.
Section 52 of The Banking Regulation Act, 1949: Power of Central Government to make rules.
Section 53 of The Banking Regulation Act, 1949: Power to exempt in certain cases.
Section 54 of The Banking Regulation Act, 1949: Protection of action taken under Act.
Section 55 of The Banking Regulation Act, 1949: Amendment of Act 2 of 1934.
Section 55A of The Banking Regulation Act, 1949: Power to remove difficulties.
Section 56 of The Banking Regulation Act, 1949: Act to apply to co-operative societies subject to modifications.
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