History of banking regulation act 1949 pdf

Committee on small banks the applications were analyzed and evaluated by an external advisory committee eac. Whereas it is expedient to consolidate and amend the law relating to banking 2. Power of the reserve bank to give directions 1 where the reserve bank is satisfied that a in the public interest. In this act, unless there is anything repugnant in the subject or context, a approved securities means i securities in which a trustee may invest money under clause a, clause b, clause bb, clause c or clause d of section 20 of the indian trust act, 1882 2 of 1882. Companies act 1956 defining company, negotiable instrument act defining public holiday. Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002.

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. The banking regulation act 1949 extends to whole of india. Powers, history, functions of the reserve bank of india rbi. The bankin g regulat i on act, 1949 is a legislation in india that reg ula tes all banking firms in india. Through this course, shivangi discusses the banking regulation act, 1949. In this file you may find very simple hand written notes for banking regulation act 1949. This act was originally enacted as banking companies act, 1949 on 16 march 1949. Contains all enforced central and state acts linked with subordinate data like rules,regulations,notifications,orders,circulars,ordinances,statutes. Nationalisation period 1969 to 1991 in 1969, government of india nationalised 14 major banks. The banking regulation act 1949 extends to the entire nation. There was initially 55 sections but in 1965 the banking regulation act 1949 was amended to include cooperative banks in the 56th section.

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. For example, in vedic age the loan deeds called rnapatra or rnalekhya were prevalent. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in. Banking regulation act, 1949 bare acts law library. Chapter 2 banking legislation and regulation history of the eightiesslessons for the future 89 4 see wolfgang h. The act was initially enacted to regulate the banking companies. Pass ed as the banking companies act 1949, it came into forc e from 16 march 194 9 and changed to banking regu lation act 194 9 from 1 march 1966. Ca final banking regulation act 1949 hand written notes in pdf. Banking regulation act 1949 is legislation created to supervise all the commercial banks in india. Banking in india originated in the last decades of the 18th century. Confidence is the sine qua non for its organic and orderly growth. Let us make indepth study of the meaning, licensing, cancellation and area of business of banking company.

An act to consolidate and amend the law relating to banking 1. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Cookbooks, crime, ebooks, fantasy, fiction, graphic novels, historical fiction, history. Control and regulations of banks under the banking regulations act, 1949 banking is a unique industry in the sense that the bulk of its working funds are derived fiom demand and time deposits. Download banking regulation act 1949 file in pdf format.

Banking regulation act 1949, indian bare acts, law library. March, 1949 an act to consolidate and amend the law relating to banking 1 whereas it is expedient to consolidate and amend the law relating to banking 1. Banking regulation act, 1949 bare acts law library advocatekhoj. Full text containing the act, banking regulation act, 1949, with all the sections, schedules, short title, enactment date, and footnotes. An act to consolidate and amend the law relating to banking. Section 10bb provides power to reserve bank to appoint chairman of the board of directors appointed on a whole time basis or managing director of any banking company. Ca final banking regulation act 1949 hand written notes in pdf format.

An act to consolidate and amend the law relating to banking 2. 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. Summary of important sections of banking regulation act. Short title, extent and commencement 1 this act may be called the banking 2 regulation act, 1949. From the establishment of the first bank of the united states in 1791 to the national banking act of 1863, banking regulation in america was an. Subsequently it was changed to banking regulations act 1949 wef 01. Banking regulation act, 1949 also provide powers of reserve bank of india such as.

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. American commercial banks and regulatory change, 1980. The following are the major steps taken by the government of india to regulate banking institutions in the country. It is therefore in the national interest that legislative safeguards be provided so that it gives a flavour of. Summary of some important sections is provided hereunder. She also takes you through some strategies to crack banking examinations. Power to suspend operation of act is a part of banking regulation act, 1949. Topics bankingregulationact1949 collection opensource language english. Banking regulation act, 1949, precluding the court from scrutinising the rate. Application of other laws not barred 3 act to apply to cooperative societies in certain cases. Learn vocabulary, terms, and more with flashcards, games, and other study tools. History of state bank of india and types of banks in hindi 10m 32s. Repeal by regulatory and judicial reinterpre tation.

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. 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. Initially, the law was applicable only to banking companies. Government and rbis powers opening of new banks and branch licensing constitution of board of. Download banking regulation act 1949 in pdf format. From 1 st march, 1966, it was renamed as banking regulation act, 1949. The act vested in the reserve bank the responsibility relating to licensing. Banking regulation act 1949 important sections in hindi. Banking regulation act 1949 and important sections pdf. The banking regulation act 1949 has 56 sections in total.

The banking regulation act, 1949 reserve bank of india. Chapter 1 addresses the question of why banks are regulated in order to establish the basic purposes, rationale, and goals for banking regulation, and to provide a framework for evaluating bank regulations. Provisions of the banking regulation act, 1949 are not in substitution of other laws. Search the history of over 424 billion web pages on the internet.

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