It is hereby enacted, that from the day of the passing of this Act, any person may hold Capital Stock of the Bank of Bengal to an amount not exceeding 1,60,000 Company’s Rupees, and that any existing Proprietor of Stock of the said Bank, may subscribe for additional Stock of the said Bank in proportion to his interest, any restriction in the Charter of the said Bank contained notwithstanding.
The existing set of Master Circulars issued by RBI on various subjects will stand withdrawn with the issue of the Master Direction on the subject. The Master Directions consolidate instructions on rules and regulations framed by the Reserve Bank under various Acts including banking issues and foreign exchange transactions.
A bank which gives a performance guarantee must honour that guarantee according to its terms. It is not concerned in the least with the relations between the supplier and the customer: nor with question whether the supplier has performed his contractual obligation or not; nor with the question whether supplier is in default or not.
It was independent of and unqualified by the contract of sale or other underlying transactions. It was a mechanism of great importance in international trade and any interference with that mechanism was bound to have serious repercussions on the international trade of this country.
An Act to provide for the licensing and regulation of payment service providers, the oversight of payment systems, and connected matters, to repeal the Money‑changing and Remittance Businesses Act (Chapter 187 of the 2008 Revised Edition) and the Payment Systems (Oversight) Act (Chapter 222A of the 2007 Revised Edition), and to make consequential and related amendments to certain other Acts.
Licensing of Small Finance Banks in the Private Sector Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector I. Introduction The Reserve Bank had issued the Guidelines for Licensing […]
An Act to provide for a comprehensive mechanism to ban the unregulated deposit schemes, other than deposits taken in the ordinary course of business, and to protect the interest of depositors
The Reserve bank of India is neither autonomous nor independent and directors are simple government servant by their appointment.
Banking Laws & Regulations Currency & Coins Central Banking & Reserve Bank of India National And Scheduled Banks Private Banks Foreign Banks Commercial Banks Co-Operative Banking Development Banks Export Import Banks Housing […]
ACT NO. 5 OF 1970 [31st March, 1970.] An Act to provide for the acquisition and transfer of the undertakings of certain banking companies, having regard to their size, resources, coverage and […]