"payment system" means a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them, but does not include a stock exchange; . Explanation.- For the purposes of this clause, "payment system" includes the systems enabling credit...
BANKING
An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a Central database of security interests created on property rights, and for matters connected therewith or incidental thereto.
If we accept the legal submissions made on behalf of the Banks to hold that the provisions of SARFAESI Act override the provisions of the various Rent Control Acts to allow a Bank to evict a tenant from the tenanted premise, which has become a secured asset of...
THE STATE BANK OF INDIA ACT, 1955 (Act No. 23 OF 1955) AN ACT To constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto. (8th May, 1955). Whereas for the...
Acts exclusively administered by Reserve Bank of India Reserve Bank of India Act, 1934 Public Debt Act 1944 Government Securities Act 2006 Government Securities Regulations, 2007 Banking Regulation Act 1949 Foreign Exchange Management Act, 1999 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Chapter...
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