Non Banking Financial Companies (Reserve Bank Of India Act 1934)

Introduction -      Chapter III B of the Reserve Bank of India Act,1934 the provisions relating to non-banking institutions receiving dep...

General Relationship between Banker and Customer

Introduction          The Relation between Banker and Customer is Contractual. It is regulated by general provisions of the law of contr...

Licensing of banking companies (Section 22 of the Banking Regulation Act 1949)

Licensing of banking companies -               According to Section 22 (1) of the Banking Regulation Act, 1949 no on company shall carry...

Prohibition of trading under the Banking Regulation Act 1949

Introduction -         The Banking Companies Act 1949 was passed to consolidate and amend the law relating to banking companies.  This Ac...

What is Hundi/Poorja in Business Law, Kinds of Hundies

What is Hundi/Poorja -     A  Hundi may be defined as a bill of exchange drawn in a vernacular language in accordance with the custom of...

What is bank Draft? What are the Characteristics of Bank Draft

Meaning and Definition of Bank Draft -          The Term 'Draft' has not been included in the definition of  Negotiable Instrumen...

Auditors - Appointment, Powers and Duties of Auditors under RBI Act, 1949

Introduction -        A charted Accountant can be appointed as a Company Auditor. A Charted Accountants means a person who is a memb...

Cash reserve (Section 18) the Banking Regulation Act, 1949

         Section 18 of the Banking Regulation Act 1949 deals with the provision Cash Reserve.  It is substituted by the amendment of 1984 ...

Reserve Fund (Section 17 of the Banking Regulation Act,1949)

               The provision of Reserve fund is substituted by amendment of 1949 w.e.f  01/10/1959. Section 17 of the Banking Regulation Ac...

Maintenance of a percentage of assets (Section 24) | Banking Regulation Act, 1949

          Part II Business of Banking Companies, Banking Regulation Act 1949 Section 24 speaks about maintenance of a percentage of assets....

Restrictions on loans and advances (Section 20) | Banking Regulation Act, 1949

      Section 20 of the Banking Regulation Act 1949 lay down restrictions on loans and advances has been wholly amended from 1 February 196...

Prohibition Of Certain Activities In Relation To Banking Companies (Section 36AD)

                In the Year,1968 Part-II-B prohibition of certain activities in relation to banking companies is inserted in Banking Regula...

Forms of Business of Banking Companies | Banking Law

             Section 6 (Part II) of the Banking Regulation Act deals with the provisions of Business of Banking Companies and the forms of ...

Inspection (Section 35 )of Banking companies by Reserve Bank of India (RBI)

                 Section 35 of the Banking Regulation Act 1949 have been incorporated to check the malpractices in Banking Companies. Sect...

Audit (Section 30) under the Banking Regulation Act 1949

           Every banking company has to obtain the previous approval of The Reserve Bank before appointing or Re-appointing and removing a...