| 1 |
Short title, extent and commencement. | Read |
| 2 |
Application of other laws not barred. | Read |
| 3 |
Act not to apply to certain co-operative societies. | Read |
| 4 |
Power to suspend operation of Act. | Read |
| 5 |
Interpretation. | Read |
| 5A |
Act to override memorandum, articles, etc. | Read |
| 6 |
Form of business in which banking companies may engage. | Read |
| 7 |
Use of words "bank", "banker", "banking" or "banking company". | Read |
| 8 |
Prohibition of trading. | Read |
| 9 |
Disposal of non-banking assets. | Read |
| 10 |
Prohibition of employment of managing agents and restrictions on certain forms of employment. | Read |
| 10A |
Board of directors to include persons with professional or other experience. | Read |
| 10B |
Banking company to be managed by whole time chairman. | Read |
| 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. | Read |
| 10C |
Chairman and certain directors not to be required to hold qualification shares. | Read |
| 10D |
Provisions of sections 10A and 10B to override all other laws, contracts, etc. | Read |
| 11 |
Requirement as to minimum paid-up capital and reserves. | Read |
| 12 |
Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders. | Read |
| 12A |
Election of new directors. | Read |
| 12B |
Regulation of acquisition of shares or voting rights. | Read |
| 13 |
Restriction on commission, brokerage, discount, etc., on sale of shares. | Read |
| 14 |
Prohibition of charge on unpaid capital. | Read |
| 14A |
Prohibition of floating charge on assets. | Read |
| 15 |
Restrictions as to payment of dividend. | Read |
| 16 |
Prohibition of common directors. | Read |
| 17 |
Reserve Fund. | Read |
| 18 |
Cash reserve. | Read |
| 19 |
Restriction on nature of subsidiary companies. | Read |
| 20 |
Restrictions on loans and advances. | Read |
| 20A |
Restrictions on power to remit debts. | Read |
| 21 |
Power of Reserve Bank to control advances by banking companies. | Read |
| 21A |
Rates of interest charged by banking companies not to be subject to scrutiny by courts. | Read |
| 22 |
Licensing of banking companies. | Read |
| 23 |
Restrictions on opening of new, and transfer of existing, places of business. | Read |
| 24 |
Maintenance of a percentage of assets. | Read |
| 25 |
Assets in India. | Read |
| 26 |
Return of unclaimed deposits. | Read |
| 26A |
Establishment of Depositor Education and Awareness Fund. | Read |
| 27 |
Monthly returns and power to call for other returns and information. | Read |
| 28 |
Power to publish information. | Read |
| 29 |
Accounts and balance-sheet. | Read |
| 29A |
Power in respect of associate enterprises. | Read |
| 30 |
Audit. | Read |
| 31 |
Submission of returns. | Read |
| 32 |
Copies of balance-sheets and accounts to be sent to registrar. | Read |
| 33 |
Display of audited balance-sheet by companies incorporated outside India. | Read |
| 34 |
Accounting provision of this Act not retrospective. | Read |
| 34A |
Production of documents of confidential nature. | Read |
| 35 |
Inspection. | Read |
| 35A |
Power of the Reserve Bank to give directions. | Read |
| 35AA |
Power of the Central Government to authorize Reserve Bank for issuing directions to banking companies to initiate insolvency resolution process. | Read |
| 35AB |
Power of Reserve Bank to issue directions in respect of stressed assets. | Read |
| 35B |
Amendments of provisions relating to appointments of managing directors, etc., to be subject to previous approval of the Reserve Bank. | Read |
| 36 |
Further powers and functions of Reserve Bank. | Read |
| 36A |
Certain provisions of the Act not to apply to certain banking companies. | Read |
| 36AA |
Power of Reserve Bank to remove managerial and other persons from office. | Read |
| 36AB |
Power of Reserve Bank to appoint additional directors. | Read |
| 36AC |
Part IIA to override other laws. | Read |
| 36ACA |
Supersession of Board of Directors in certain cases. | Read |
| 36AD |
Punishments for certain activities in relation to banking companies. | Read |
| 36AE |
Power of Central Government to acquire undertakings of banking companies in certain cases. | Read |
| 36AF |
Power of the Central Government to make scheme. | Read |
| 36AG |
Compensation to be given to shareholders of the acquired bank. | Read |
| 36AH |
Constitution of the Tribunal. | Read |
| 36AI |
Tribunal to have powers of a civil court. | Read |
| 36AJ |
Procedure of the Tribunal. | Read |
| 36B |
High Court defined. | Read |
| 37 |
Suspension of business. | Read |
| 38 |
Winding up by High Court. | Read |
| 38A |
Court liquidator. | Read |
| 39 |
Reserve Bank to be official liquidator. | Read |
| 39A |
Application of Companies Act to liquidators. | Read |
| 40 |
Stay of proceedings. | Read |
| 41 |
Preliminary report by official liquidator. | Read |
| 41A |
Notice to preferential claimants and secured and unsecured creditors. | Read |
| 42 |
Power to dispense with meetings of creditors, etc. | Read |
| 43 |
Booked depositors' credits to be deemed proved. | Read |
| 43A |
Preferential payments to depositors. | Read |
| 44 |
Powers of High Court in voluntary winding up. | Read |
| 44A |
Procedure for amalgamation of banking companies. | Read |
| 44B |
Restriction on compromise or arrangement between banking company and creditors. | Read |
| 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. | Read |
| 45A |
Part IIIA to override other laws. | Read |
| 45B |
Power of High Court to decide all claims in respect of banking companies. | Read |
| 45C |
Transfer of pending proceedings. | Read |
| 45D |
Settlement of list of debtors. | Read |
| 45E |
Special provisions to make calls on contributories. | Read |
| 45F |
Documents of banking company to be evidence. | Read |
| 45G |
Public examination of directors and auditors. | Read |
| 45H |
Special provisions for assessing damages against delinquent directors, etc | Read |
| 45-I |
Duty of directors and officers of banking company to assist in the realisation of property. | Read |
| 45J |
Special provisions for punishing offences in relation to banking companies being wound up. | Read |
| 45K |
Omitted. | Read |
| 45L |
Public examination of directors and auditors, etc., in respect of a banking company under schemes of arrangement | Read |
| 45M |
Special provisions for banking companies working under schemes of arrangement at the commencement of the Amendment Act. | Read |
| 45N |
Appeals. | Read |
| 45-O |
Special period of limitation | Read |
| 45P |
Reserve Bank to tender advice in winding up proceedings | Read |
| 45Q |
Power to Inspect | Read |
| 45R |
Power to call for returns and information | Read |
| 45S |
Chief Presidency Magistrate and District Magistrate to assist official liquidator in taking charge of property of banking company being wound up. | Read |
| 45T |
Enforcement of orders and decisions of High Court. | Read |
| 45U |
Power of High Court to make rules. | Read |
| 45V |
References to directors, etc., shall be construed as including references to past directors, etc. | Read |
| 45W |
Part II not to apply to banking companies being wound up | Read |
| 45X |
Validation of certain proceedings. | Read |
| 45Y |
Power of Central Government to make rules for the preservation of records. | Read |
| 45Z |
Return of paid instruments to customers. | Read |
| 45ZA |
Nomination for payment of depositors' money. | Read |
| 45ZB |
Notice of claims of other persons regarding deposits not receivable. | Read |
| 45ZC |
Nomination for return of articles kept in safe custody with banking company. | Read |
| 45ZD |
Notice of claims of other persons regarding articles not receivable. | Read |
| 45ZE |
Release of contents of safety lockers. | Read |
| 45ZF |
Notice of claims of other persons regarding safety lockers not receivable. | Read |
| 46 |
Penalties | Read |
| 46A |
Chairman, director, etc., to be public servants for the purposes of Chapter IX of the Indian Penal Code. | Read |
| 47 |
Cognizance of offences. | Read |
| 47A |
Power of Reserve Bank to impose penalty | Read |
| 48 |
Application of fines. | Read |
| 49 |
Special provisions for private banking companies. | Read |
| 49A |
Restriction on acceptance of deposits withdrawable by cheque. | Read |
| 49B |
Change of name by a banking company. | Read |
| 49C |
Alteration of memorandum of a banking company. | Read |
| 50 |
Certain claims for compensation barred | Read |
| 51 |
Application of certain provisions to the State Bank of India and other notified banks. | Read |
| 51A |
Powers of Reserve Bank not to apply to International Financial Services Centre. | Read |
| 52 |
Power of Central Government to make rules. | Read |
| 53 |
Power to exempt in certain cases. | Read |
| 54 |
Protection of action taken under Act. | Read |
| 55 |
Amendment of Act 2 of 1934. | Read |
| 55A |
Power to remove difficulties | Read |
| 56 |
Act to apply to co-operative societies subject to modifications. | Read |
