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