This subject is mostly taught in the 5th semester of the llb law courses. Today we are providing banking awareness handwritten notes in pdf format. Banking law llb lecture notes, free ebook pdf download. The above mentioned banking acts are of utmost importance, but below, we have dealt with only those acts that are frequently asked in the examination and are totally important from the exams perspective. Nabard is designated as an apex development bank in the country. Us 22 of rbi act, rbi which of the following is not correct a. The changes in the above items, if any, during the year, say, fresh. This act is the basis for constitution, powers, and functions of rbi. Provisions of the banking regulation act, 1949 are not in substitution of other laws applicable, unless otherwise expressly said section 2 sub 56 b act is not applicable to 1 primary agricultural society 2 cooperative land mortgage bank 3 any other cooperative society except as provided by sec.
Penal code, the indian evidence act, 1872, the bankers books evidence act, 1891 and the reserve bank of india act, 1934 and for matters connected therewith or incidental thereto. Short title, extent and commencement 1 this act may be called the banking 3 regulation act, 1949. Subsequently it was changed to banking regulations act 1949 wef 01. Download banking regulation act 1949 in pdf format.
The banking regulation act, 1949 national bank for. Exchange control regulations issued in terms of that act impose exchange controls that restrict the export of capital from south africa. As per definition us 5 b of banking regulation act 1934, which of the following is not correct in the context banking business. Risk management guidelines for banks and financial institutions,2010. The banking regulation act 1949 extends to the entire nation. Study material for bank promotion banking regulation act. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Indian banking structure origin and evolution of banking institutions types and functions of banks commercial banks commercial banks functions banking companies in india rbi constitution, management and functions banking regulation act, 1949 state bank of india uti, idbi, rrbs local banks. Unit 1 history of banking law 7 unit 2 the rbi act, 1934i 35 unit 3 the rbi act, 1934ii 62 unit 4 the indian banking system 98 unit 5 the banking regulation act i 121. In this series of study material for bank promotion, these are brief notes on banking regulation act.
On the suggestions of narsimhan committee, the banking regulation act was amended in 1993 and thus the gates for the new private sector banks were opened. Specifically, the regulation implements the statutory exceptions that allow a bank, subject to certain conditions, to continue to conduct securities transactions for its customers as part of its trust and fiduciary, custodial, and deposit sweep functions and to refer customers to a securities brokerdealer pursuant to a networking arrangement. This national bank was established in 1982 by a special act of the parliament, with a manadate to uplift rural india by facilitating credit flow in agriculture, cottage and village industries, handicrafts and. It begins by addressing the concept of country risk, which is the primary risk associated with international banking activities. It became applicable to jammu and kashmir from 1956. An act to consolidate and amend the law relating to banking 1 whereas it is expedient to consolidate and amend the law relating to banking 2. Short title, extent and commencement 1 this act may be called the banking 2 regulation act, 1949.
Reserve bank of india act 1934, rbi act, rbi in hindi. Banking regulation act, 1949 banking company bankexamstoday. 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. Summary of important sections of banking regulation act.
Government and rbis powers opening of new banks and branch licensing constitution of board of directors and their rights banks share holders and their rights crr and slr concepts cash. The rbi act was enacted with an objective of constituting reserve bank of india to regulate issue of bank notes, to keep reserves to ensure monetary stability, to operate currency and credit system. Oxford dictionary defines a bank as an establishment for custody of money, which it. The following are the major steps taken by the government of india to regulate banking institutions in the country. Bank means the bank of tanzania referred to under section 41 of.
Ca final banking regulation act 1949 hand written notes in pdf format. In this file you may find very simple hand written notes for banking regulation act 1949. Banking regulation act 1949 and important sections pdf. Legislation and guidelines cbk central bank of kenya. The information technology act, 2000, was thus passed as the act no. In this video i will try to cover all of the rbi act in details. According to banking regulation act, banking means the accepting for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, and an order or otherwise. These pdf lecture notes will help you in preparing well for your semester exams on banking law and assist you in. There are many provisions of banking regulation act 1949 and we are going to the topic about business of banking companies. The negotiable instruments act was introduced by the imperial legislative council of india and was enacted on 9th december 1881 to define laws related. The banking regulation act was passed as the banking companies act 1949 and came into force wef 16. Summary of some important sections is provided hereunder. Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. Has authority to issue and manage currency of india b.
In jaiib reserve bank of india act is a very important topic and basic too. The banking fees regulations, 1994 the banking increase of rate of banking and other charges regulations, 2006 exemptioncfc stanbic holdings limited1st june, 2008 the banking credit reference bureau regulations, 2008, repealed by ln5 of 2014 revocation. Chapter 1 addresses the question of why banks are regulated in order to establish the basic purposes, rationale, and goals for banking regulation, and to provide a framework for evaluating bank regulations. The banking regulation act, 1949 is a legislation in india that regulates all banking firms in india. Pursuant to the banks and trust companies regulation act, 2000, and the central bank of the bahamas act, 2000, the central bank of the bahamas is responsible for the licensing, regulation and supervision of banks and trust companies operating in and from within the bahamas. The banking and financial institutions consolidated supervision regulations, 2014.
The consumer must authorize the transfer 12 cfr 1005. Introduction banking means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise. Banking regulation act, 1949 bare acts law library. Full text containing the act, banking regulation act, 1949, with all the sections, schedules, short title, enactment date, and footnotes. This regulatory structure creates transparency between banking institutions and the individuals and corporations with whom they conduct business. Whereas it is expedient to consolidate and amend the law relating to banking 2. Companies act 1956 defining company, negotiable instrument act defining public holiday. Power to suspend operation of act is a part of banking regulation act, 1949. Initially, the banking regulation act was passed as banking companies act, 1949. Customer identification program overview objective. Principles and practices of banking jaiib page 2 d.
Bank act 5158 kb act current to 20200421 and last amended on 20190621. Hi fellow law llb students, on this thread, i am sharing brief and concise notes on the banking law. Supervisory methodologies, acts, guidelines and circular in place. Ca final banking regulation act 1949 hand written notes in pdf. Regulations and guidelines pursuant to the banking act cap 488 regulations and guidelines issued by the central bank of kenya subject banks to certain requirements, restrictions and guidelines. The banking regulation act 1949 extends to whole of india. An act to consolidate and amend the law relating to banking 2. In a series of sharing useful study material for upcoming banking exams.
Section 22 only rbi has the exclusive rights to issue currency notes in india. Read the underlined words carefully as they are important part of definition on which questions may be based. Banking law unit i llb class notes adv gr rajesh kumar. Assess the bank s compliance with the statutory and regulatory requirements for the customer identifcation program cip. The banking and regulations act was enacted to safeguard the interest of the depositors and to control the abuse of powers by controlling the banks by any means necessary and to the interest of indian economy in general.