Most Interesting Article About Indian banking law Asked in govt. jobs

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• 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.

What is Banking law?

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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.

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.

• small-scale industries, cottage and village industries, handicrafts and other rural crafts and

other allied economic activities in rural areas to boost integrated rural development and secure prosperity in rural areas.

• The act was introduced on 30th December, 1981.

3. The Banking Regulation Act, 1949

• The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India.

• 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.

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.

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.

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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