What is Section 35A of Banking Regulation Act 1949?
Table of Contents
- 1 What is Section 35A of Banking Regulation Act 1949?
- 2 Which authority can do the inspection of banks under Section 35 of Banking Regulation Act 1949?
- 3 How inspection is conducted under Section 35 of banking Regulations Act?
- 4 Which of the following falls under Section 11 of Banking Regulation Act 1949?
- 5 What is Section 20 of Banking Regulation Act?
- 6 How many sections are there in banking Regulations Act 1949?
- 7 What is section 35A of the Banking Regulation Act?
- 8 What is section 35A of the Central Government Act?
What is Section 35A of Banking Regulation Act 1949?
it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit, and the banking companies or the banking company, as the case may be, shall be bound to comply with such directions.
The Banking Regulation Act, 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks.
What are the main objectives and important regulations of the Banking Regulation Act 1949?
The Act gives the Reserve Bank of India (RBI) the power to license banks, have regulation over shareholding and voting rights of shareholders; supervise the appointment of the boards and management; regulate the operations of banks; lay down instructions for audits; control moratorium, mergers and liquidation; issue …
What are the activities permitted by the Banking Regulation Act 1949 to be taken up by the banker?
Lending/Borrowing of money with/ without security, issuing travellers’ cheque, buying & selling foreign exchange notes, deposits vaults, collecting & transmitting of money & securities, buying bonds and other securities on the behalf of customers.
How inspection is conducted under Section 35 of banking Regulations Act?
Section 35(1) in BANKING REGULATION ACT,1949. (b) A copy of the report of the scrutiny shall be furnished to the banking company if the banking company makes a request for the same or if any adverse action is contemplated against the banking company on the basis of the scrutiny.]
Which of the following falls under Section 11 of Banking Regulation Act 1949?
Under the provisions of Section 11 of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies), no primary (urban) cooperative bank can commence or carry on banking business if the real or exchangeable value of its paid-up capital and reserves is less than Rs. one lakh.
What can a bank not do under the Banking Regulation Act?
Prohibition of charge on unpaid capital. —No banking company shall create any charge upon any unpaid capital of the company, and any such charge shall be invalid..
What are the sections of Banking Regulation Act?
| Contents | |
|---|---|
| Sections | Particulars |
| 45 | Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution or amalgamation |
| Part IIIA | Special Provisions For Speedy Disposal Of Winding Up Proceedings |
| 45A | Part IIIA to override other laws |
What is Section 20 of Banking Regulation Act?
Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) prohibits banks from granting any loan or advance to any of its Directors.
How many sections are there in banking Regulations Act 1949?
56 sections
Important sections of Banking Regulation Act, 1949 The act has 56 sections.
What is Section 22 of Banking Regulation Act?
Section 22 in BANKING REGULATION ACT,1949. (1) Save as hereinafter provided, no company shall carry on banking business in India unless it holds a licence issued in that behalf by the Reserve Bank and any such licence may be issued subject to such conditions as the Reserve Bank may think fit to impose.]
What are the sections of banking regulation act?
What is section 35A of the Banking Regulation Act?
Section 35A in BANKING REGULATION ACT,1949 177 [ 35A Power of the Reserve Bank to give directions.
What is section 35A of the Central Government Act?
Central Government Act Section 35A in BANKING REGULATION ACT,1949 177[ 35A Power of the Reserve Bank to give directions. (1)Where the Reserve Bank is satisfied that— (a)in the178[public interest]; or 179[(aa)in the interest of banking policy; or]
What is 35A power of the Reserve Bank to give directions?
177 [ 35A Power of the Reserve Bank to give directions. — it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit, and the banking companies or the banking company, as the case may be, shall be bound to comply with such directions.
Who is the sole authority of RBI under Banking Regulation Act?
The Scheme is framed and holds authority under Section 35A of the Banking Regulation Act, 1949. RBI is the sole authority governing the scheme on the discretion of whom the act depends on. The Scheme clearly describes that the date of commencement and its suspension would be determined by the RBI. [vii]