Important provisions of the RBI ACT- 1934 & Banking Regulation Act- 1949

Case Laws on Responsibility of Collecting Bank (Unit – 7 : Mod -B)

Case Laws on Responsibility of Collecting Bank Negotiable Instrument Act play important role in fair transfer and payment...

Case Laws on Responsibility of Paying Bank (Legal Unit-06

Case Laws on Responsibility of Paying Bank In India negotiable instrument play important role in making payment .

Current Affairs for Bank Promotion

Current affairs play important in bank Promotion Exam. Agreements News 3. AU Small Finance, ICICI Pru...

What are the main provisions of Banking Regulation Act 1949?

1. Important provisions of the RBI ACT- 1934

Section -22 : sole right to issue bank notes.

Section- 31 : Prohibits issue of bearer bills of exchange, promissory notes payableto bearer.

Section – 42(1) : Cash reserve ratio (CRR)

Rbi is regulator of Banks so it is also Banks of bank and Play important role in controlling inflation.

Read More : – JAIIB-Legal | CAIIB-Retail | Bank Promotion | SARFAESI Act 2002 |DRT & DRAT | Lok Adalat

2. Important provisions of the Banking Regulation Act- 1949

BR Act is just like constitution of all Banks operating in India.

Section – 11 : paid up Capital and Reserves :

For domestic banks: 5 lacs and for foreign banks 15 lacs in case of banking businessat Mumbai/ Calcutta or both

Section – 20 : Restriction on advance against own shares

Section- 21 (A): Interest charged by the banks can not scrutinise by the court.

Section – 23 : Restriction on opening of new branch, extn. Counter  etc. except  for one month.

Section 24 : Maintenance of SLR

Section 26 : Return of unclaimed Deposit.

Section 45(Y) : Preservation of the bank records.

Section 45 Z : Returns of paid instruments to customer

Section 45 ZA : Nomination in Deposit accounts

Section 45 ZC : Nomination in safe custody accounts

Section 45 ZE : Nomination in lockers

Section 47-A : Violation of KYC: RBI can impose penalty on banks for violation of KYC norms.

Be continue….

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Case Laws on Responsibility of Collecting Bank (Unit – 7 : Mod -B)

Case Laws on Responsibility of Collecting Bank Negotiable Instrument Act play important role in fair transfer and payment...

Related Articles

Case Laws on Responsibility of Collecting Bank (Unit – 7 : Mod -B)

Case Laws on Responsibility of Collecting Bank Negotiable Instrument Act play important role in fair transfer and payment...