Banking Regulation Act 1949 and Important Sections (Updated)

The Banking Regulation Act 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes.

There are total 55 Sections in the Banking Regulation Act, 1949. Some important sections are listed below:

 

Section 10BB: Power of Reserve Bank to appoint [chairman of the Board of directors appointed on a whole-time basis or a managing director] of a banking company.

Section 11: Requirement as to minimum paid-up capital and reserves

 
Section 12:  Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders
Section 21: Power of Reserve Bank to control advances by banking companies
Section 21A: Rates of interest charged by banking companies
Section 22(1): Licensing of banking companies
Section 23: Restrictions on opening of new, and transfer of existing, places of business
Section 29: Accounts and balance-sheet
Section 36AE : Power of Central Government to acquire undertakings of banking companies in certain cases
Section 44A: Procedure for amalgamation of banking companies.

Note:

  • Amalgamation of two banking companies is under the provisions of Section 44A of the Banking Regulation Act, 1949.
  • Amalgamation of a banking company with a non-banking company is governed by sections 391 to 394 of the Companies Act, 1956.
Section 47A: Power of Reserve Bank to impose penalty
 
Section 49A: Restriction on acceptance of deposits withdrawable by cheque.
 

 

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17 Thoughts to “Banking Regulation Act 1949 and Important Sections (Updated)”

  1. ǟʍɮɨӄǟ?

    thankyou shubhra mam :))

  2. Trisha

    thanks mam @Shubhra_AspirantsZone:disqus
    is there any other act of which sections can be asked in exam, if yes pls cover. May be RBI act, like payment bank is in which section of rbi etc.

    1. Yes going to post RBI act tomorrow

      1. More than....

        MAM RBI B GRADE SE RELATED GA ME TOPIC PLZZ MAM

      2. Trisha

        thanks so much mam

      3. PHENOMENAL

        Thanx ma’am , where we can get all 55 sections of bank?

          1. PHENOMENAL

            thank you maam

  3. pulkit

    thank you shubhra mam :))

  4. Riyaelite

    Thank you mam :))))

  5. Be positive

    ty mam 🙂

  6. Overt

    thankyou mam :))

  7. Ittu Si Barbie (。♥‿♥。)

    Thanku ;))

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