Most Interesting Article About Indian Banking law Asked in Govt. Jobs
What is Banking law?
Banking law covers the many state and federal regulations governing financial institutions.These laws impose reporting requirements for banks and govern securities and other transactions. In addition to affecting banks, banking law often plays a large role in mergers and acquisitions of corporations and tax audits of bank accounts.
Most Important Banking Laws
1. Bankers Book Evidence Act, 1891 :
An Act to amend the Law of Evidence with respect to Bankers' Books. "Bankers' books" include ledgers, day-books, cash-books, account-books and all other books used in the ordinary business of a bank.
3. The Banking Regulation Act, 1949
This act was introduced on 10th March, 1949. It is an addition to the Companies Act, 1956. With the help of this act Reserve Bank of India (RBI) gets 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.
5. The Export-Import Bank of India Act, 1981
An act to establish the Export-Import Bank of India in order to provide financial assistance to exporters and importers.It helps the EXIM Bank to function as the principal financial institution to manage the working of institutions engaged in providing finance for export and import of goods and services with a view to promote the country's international trade .The act was introduced on 11th September, 1981.
These Banking law and practice could be asked in the Bank Exam, IBPS PO, IBPS Clerk, RRB etc.
2. The National Bank for Agriculture and Rural Development Act-1981
An
Act to establish a development bank to be known as the National Bank for
Agriculture and Rural Development for providing and regulating credit and other
facilities for the promotion and development of agriculture.
4. The Banking Regulation and Miscellaneous Provisions Act, 2004
It is an act further to amend the Banking Regulation Act, 1949 and the Deposit Insurance and Credit Guarantee Corporation Act, 1961.The act was introduced on 20th December, 2004.
6. The Industrial Disputes (Banking and Insurance Companies) Act, 1949
An
Act to provide for the settlement of industrial disputes concerning certain
banking and insurance companies.The
act was introduced on 14th December, 1949.
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