Banking Related Acts

Here we have listed the Acts related to banking sector.

1. Negotiable Instrument Act–1881
2. The Bankers’Books Evidence Act–1891
3. The ReserveBank of India Act–1934
4. The Industrial Finance Corporation of India Act–1948
5. The Banking Companies (Legal Practitioner Clients’ Accounts) Act–1949
6. The Industrial Disputes (Banking and Insurance Companies) Act–1949
7. The Banking Regulation(Companies) Rules–1949
8. The Banking Regulation Act–1949
9. The State Financial Corporations Act–1951
10. The Reserve Bank of India (Amendment and Misc. Provisions) Act–1953
11. The Industrial Disputes (Banking Companies) Decision Act–1955
12. The State Bank of India Act–1955
13. The State Bank of India (Subsidiary Banks) Act-1959
14. The Subsidiary Banks General Regulation–1959
15. The Deposit Insurance and Credit Guarantee Corporation Act–1961(DICGC)
16. The Banking Companies (Acquisition and Transfer of Undertakings) Act–1970
17. The Regional Rural Banks Act–1976
18. The Banking Companies (Acquisition and Transfer of Undertakings) Act–1980
19. The Export-Import Bank of India Act–1981
20. The National Bank for Agriculture and Rural Development Act–1981
21. Chit Fund Act–1982
22. Sick Industrial Companies (Special Provisions)Act–1985
23. The National Housing Bank Act–1987
24. SIDBI Act–1989
25. The Special Court (trial of Offences relating to Transactions in Securities) Act–1992
26. The Industrial Finance Corporation (Transfer of Undertakings and Repeal) Act–1993
27. Industrial Reconstruction Bank (Transfer of Undertaking & Appeal) Act–1997
28. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act–(SARFASI-2002)
29. Industrial Development Bank (Transfer of Undertaking & Repeal) Act–2003
30. Credit Information Companies (Rules & Regulation) Act–2005
31. The Industrial Finance Corporation of India Act–1948
32. The Banking Companies (Legal Practitioner Clients’ Accounts) Act–1949
33. The Industrial Disputes (Banking and Insurance Companies) Act–1949
34. The State Financial Corporations Act–1951
35. The Reserve Bank of India (Amendment and Misc. Provisions) Act–1953
36. The Industrial Disputes (Banking Companies) Decision Act–1955
37. The State Bank of India Act–1955
38. The State Bank of India (Subsidiary Banks) Act-1959
39. The Subsidiary Banks General Regulation–1959
40. The Deposit Insurance and Credit Guarantee Corporation Act–1961
41. The National Bank for Agriculture and Rural Development Act–1981
42. Chit Fund Act–1982
43. Shipping Development Fund Committee (Abolition)Act–1985
44. Sick Industrial Companies (Special Provisions)Act–1985
45. The National Housing Bank Act–1987
46. The Special Court (trial of Offences relating to Transactions in Securities) Act–1992
47. The Industrial Finance Corporation (Transfer of Undertakings and Repeal) Act–1993
48. Industrial Reconstruction Bank (Transfer of Undertaking & Appeal) Act–1997
49. SIDBI General Regulations, 1990
50. Banking Regulation (Companies) Rules 1949
51. The Nationalised Banks (Management and Misc. Provisions)Scheme,1970
52. NABARD General Regulations 1982
53. Banking Companies (Period of Preservation of Records) Rules, 1985
54. Banking Companies (Regulation)Rules,1985
55. NABARD Bonds Regulations — 1988
56. The Banking Ombudsman Scheme, 2006
57. Factoring Act Rules, 2011
58. SARFAESI (Central registry) Rules,2011
59. Banker’s Books Evidence Act, 1891
60. Banking Regulation Act, 1949
61. Banking Companies (Legal Practitioners’ Clients’ Account) Act, 1949
62. Banking Regulation (Companies) Rules, 1949
63. Banking Companies (Acquisition and Transfer of Undertaking) Act, 1969
64. Debts Recovery Appellate Tribunal (Procedure) Rules,1994
65. Foreign Contribution (Regulation) Act, 1976
66. Foreign Exchange Management Act, 1999
67. Indian Partnership Act, 1932
68. Indian Stamp Act, 1899
69. Indian Trusts Act, 1882
70. Limitation Act, 1963
71. Recovery of Debts due to Banks and Financial Institutions Act,1993
72. Reserve Bank of India Act — 1934

Negotiable Instruments Act, 1881

• Section 4 – Promissory note
• Section 5 – Bill of exchange
• Section 6 – Cheque
• Section 13 – Negotiable Instruments
• Section 123 – Cheque Crossed Generally
• Section 124, 126 – Cheque crossed specially
• Section 130 – Cheque bearing Not Negotiable
• Section 118 – Presumptions as to Negotiable Instruments

Reserve Bank of India Act, 1934

• Section 17 – Defines Business of RBI
• Section 18 – Deals with Emergency loans to Banks
• Section 22 – only RBI has the exclusive rights to issue currency notes in India.
• Section 24 – maximum denomination a note can be Rs. 10,000.
• section 26 – Describes the legal tender character of Indian bank notes.
• Section 28 – Allows the RBI to form rules regarding the exchange of damaged and imperfect notes.
• Section 31 – In India only the RBI or the central government can issue and accept promissory notes that are payable on demand.
• Section 42(1) – Every scheduled bank must have an average daily balance with the RBI