The Banking Regulation Act, 1949 — Bare Act, All Sections & Free PDF
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Overview
An Act to consolidate and amend the law relating to banking.
Sections (Showing 1 to 10 of 131)
Section 1 to Section 9 (10 Sections)
Short title, extent and commencement.
(1) This Act may be called the Banking 1 [Regulation] Act, 1949. 2 [(2) It extends to the whole of India 3 ***.] (3) It shall come into force on such date 4 as the Central Governme...
Application of other laws not barred.
The provisions of this Act shall be in addition to, and not, save as hereinafter expressly provided, in derogation of the 1 [Companies Act, 1956 (1 of 1956)], any other law for the...
Act not to apply to certain co-operative societies.
1 [3. Act not to apply to certain co-operative societies.-- Notwithstanding anything contained in the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981), th...
Power to suspend operation of Act.
(1) The Central Government, if on a representation made by the Reserve Bank in this behalf is satisfied that it is expedient so to do, may by notification in the Official Gazette, ...
Interpretation.
1 [In this Act], unless there is anything repugnant in the subject or context,-- 2 [(a) approved securities means the securities issued by the Central Government or any State Gover...
Act to override memorandum, articles, etc.
1 [5A. Act to override memorandum, articles, etc. -- Save as otherwise expressly provided in this Act,-- (a) the provisions of this Act shall have effect notwithstanding anything t...
Form of 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:-- (a) the borrowing, raising, or taking up o...
Use of words "bank", "banker", "banking" or "banking company".
1 [7. Use of words "bank", "banker", "banking" or "banking company".-- (1) No company other than a banking company shall use as part of its name 2 [or in connection with its busine...
Prohibition of trading.
Notwithstanding anything contained in section 6 or in any contract, no banking company shall directly or indirectly deal in the buying or selling or bartering of goods, except in c...
Disposal of non-banking assets.
Notwithstanding anything contained in section 6, no banking company shall hold any immovable property howsoever acquired, except such as is required for its own use, for any period...
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Disclaimer: This bare act is reproduced for general informational and reference purposes only and does not constitute legal advice. Always verify provisions against the latest official gazette and consult a qualified advocate before relying on any section.