Full text containing the act, Banking Regulation Act, , with all the sections, schedules, short title, enactment date, and footnotes. provisions of Banking Regulation Act, (As Applicable to Co-operative .. In terms of Section 24 of the Banking Regulation Act , (AACS), every. Primary. Section 23 of Banking Regulation Act, (AACS) – Extending Value-Added Services through ATMs. Please refer to our circular
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Application of other laws not barreds. Act to override memorandum, articles, etc. Reserve Bank to tender advice in winding up proceedings.
Duty of Directors and Officers of banking company to assist in the realization of property. Procedure for amalgamation of banking companies.
Cooperative banks, which operate only in one state, are formed and run by the state government. Prohibition of floating charge on assets.
Short title, extent and commencement. Power of the Central Government to make scheme. Part IIIA to override other laws. Special provisions for banking companies working under schemes of arrangement at the commencement of the Amendment Act.
Regulation of paid-up capital, subscribed capital and authorized capital and voting rights of shareholders.
Notice of claims of other persons aft articles not receivable. Settlement of list of debtors. Power of Central Government to make rules. Board of Directors to include persons with professional or other experience. Enforcement of orders and decisions of High Court.
Views Read Edit View history. Copies of balance-sheets and accounts to be sent to Registrar.
Unlawful Activities Prevention Act. Citedby docs – [ View All ].
Banking Regulation Act, – Wikipedia
Compensation to be given to shareholders of the aavs bank. Provided that nothing in clause b shall apply to the grant of unsecured loans or advances— a made by a co-operative bank—. Special provisions for punishing offences in relation to banking companies being wound up. Restriction on nature of subsidiary companies. Power to dispense with meetings of creditors, etc.
Requirement as to minimum paid-up capital and reserves. From Wikipedia, the free encyclopedia. Provided that nothing in clause b of sub-section 1 shall be deemed to prohibit—.
Babu Rao And Ors. Prohibition of employment of Managing Agents and restrictions on certain b of employment.
Section 11 in BANKING REGULATION ACT,
Power of Reserve Bank to appoint additional Directors. Power to publish information. Special provisions wct make calls on contributories. Rate of interest charged by banking companies not to be subject to scrutiny by courts.
Power to Reserve Bank to impose penalty. Act to apply to co-operative societies in certain cases. Initially, the law was applicable only to qacs companies. Disposal of non-banking assets. Prohibition of charge on unpaid capital.
It is hereby enacted as follows: Protection of action taken under Act. Restrictions as to payment of dividend. Preliminary report by official liquidator. Requirement as to minimum paid-up capital and reserves. Public examination of Directors and Auditors, etc. Application of Companies Act to liquidators.
Banking Regulation Act, 1949
Power to exempt in certain cases. The Banking Regulation Act, is a legislation in India that regulates all banking firms in India. Procedure of the Tribunal. 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.