The indian banking sector is regulated by the reserve bank of india act 1934 rbi act and the banking regulation act 1949 br act. Discuss the salient features of the indian banking. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Extracts of act, rules and regulations united bank of india.
Whereas the reserve bank of india is satisfied that in order to protect the interest of the depositors and in public interest, it is necessary to issue certain directions to yes bank ltd. The banking regulation act, 1949 came into force on march 16, 1949. The banking regulation act 1949 extends to the entire nation. Reserve bank of inola general regulations, 1949 in exercise of the powers conferred by section 58 of the reserve bank of india act, 1934 ii of 1934 and in supersession of the reserve bank of india general regulations, 1935, the central board of the reserve bank of india, with the previous sanction of the central.
The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. As you are aware, the government of india, ministry of finance, notified the banking law amendments act, 2012, vide gazette notification dated january 17, 20, published in part ii section 3subsection ii of the gazette of india no. Banking regulation act, 1949 project report submission on banking. Important mcq of banking regulation act 1949 banking awareness competition craze. 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. Filling of vacancy in the office of elected director clause 11b. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in.
Directive under section 35a of the banking regulation act. Initially, the law was applicable only to banking companies. It contained various aspects related to banking in india. For this the panel recommended that recruitment procedures, training. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. The banking regulation act, 1949 reserve bank of india. India to issue directions to the first respondent bank, to fill up the vacancy caused as a result of. The relevant sections of the banking regulation act, 1949, the banking companies. Important sections in banking regulation act 1949 aspirants zone. Whereas it is expedient to consolidate and amend the law relating to banking 2. Reserve bank may, if it is of opinion that the continuation of such vacancy is likely to. Important mcq of banking regulation act 1949 banking. Banking regulation act 1949 and important sections pdf.
Banking regulation act 1949 important sections in hindi. Reserve bank of india under section 22 of the banking regulation act, 1949 are not. The administration nationalised commercial banks and established, based on the banking companies act, 1949 later called the banking regulation act, a. Here we have listed the acts related to banking sector. The act gives the reserve bank of india rbi the power to license banks, have regulation. In terms of these provisions, banks cannot, without the prior approval of the reserve bank of india rbi, open a new place of business in india or abroad or change, otherwise than within the same city, town or village, the location of the existing place of business.
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