🏅NEGOTIABLE INSTRUMENTS
SECTION🏅
🩸 SIMPLE CROSSING OR GENERAL CROSSING_ NI ACT 123
🩸 RESTRICTIVE CROSSING_ NI ACT 127
🩸SPECIAL CROSSING_ NI ACT 124
🩸NOT NEGOTIABLE CROSSING_ NI ACT 130
🩸ENDORSEMENT_ SEC 15
🩸DEMAND DRAFT_ SEC 85(A)
🩸PROMISSORY NOTE_ SEC 4
🩸BILL OF EXCHANGE_ SEC 5
🩸CHEQUE_ SEC 6
🩸BANK HOLIDAY_ NI ACT_ 1881
🩸TOTAL NI ACT_ 148
🩸DRAWEE & DRAWER_ SEC 7
🩸DISHONOR BY NON PAYMENT_ SEC 92
🩸DISHONOURING OF CHEQUE_ SEC 138
#Banking #Sections
🔴Important Sections of Banking Regulation Act 1949🔴
🌟There are total 56 Sections in the Banking Regulation Act 1949🌟
🟠Section 10BB: Power of Reserve Bank to appoint [chairman of the Board of directors appointed on a whole-time basis or a managing director] of a banking company.
🟠Section 11: Requirement as to minimum paid-up capital and reserves
🟠Section 12: Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders
🟠Section 21: Power of Reserve Bank to control advances by banking companies
🟠Section 21A: Rates of interest charged by banking companies
♦️Section 22(1): Licensing of banking companies
🟠Section 23: Restrictions on opening of new, and transfer of existing, places of business
🟠Section 29: Accounts and balance-sheet
🟠Section 36AE : Power of Central Government to acquire undertakings of banking companies in certain cases
🟠Section 44A: Procedure for amalgamation of banking companies.
Note:👇👇
💥💥Amalgamation of two banking companies is under the provisions of Section 44A of the Banking Regulation Act, 1949.
💥💥Amalgamation of a banking company with a non-banking company is governed by sections 391 to 394 of the Companies Act, 1956.
🟠Section 47A: Power of Reserve Bank to impose penalty
🟠Section 49A: Restriction on acceptance of deposits withdrawable by cheque.
SECTION🏅
🩸 SIMPLE CROSSING OR GENERAL CROSSING_ NI ACT 123
🩸 RESTRICTIVE CROSSING_ NI ACT 127
🩸SPECIAL CROSSING_ NI ACT 124
🩸NOT NEGOTIABLE CROSSING_ NI ACT 130
🩸ENDORSEMENT_ SEC 15
🩸DEMAND DRAFT_ SEC 85(A)
🩸PROMISSORY NOTE_ SEC 4
🩸BILL OF EXCHANGE_ SEC 5
🩸CHEQUE_ SEC 6
🩸BANK HOLIDAY_ NI ACT_ 1881
🩸TOTAL NI ACT_ 148
🩸DRAWEE & DRAWER_ SEC 7
🩸DISHONOR BY NON PAYMENT_ SEC 92
🩸DISHONOURING OF CHEQUE_ SEC 138
#Banking #Sections
🔴Important Sections of Banking Regulation Act 1949🔴
🌟There are total 56 Sections in the Banking Regulation Act 1949🌟
🟠Section 10BB: Power of Reserve Bank to appoint [chairman of the Board of directors appointed on a whole-time basis or a managing director] of a banking company.
🟠Section 11: Requirement as to minimum paid-up capital and reserves
🟠Section 12: Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders
🟠Section 21: Power of Reserve Bank to control advances by banking companies
🟠Section 21A: Rates of interest charged by banking companies
♦️Section 22(1): Licensing of banking companies
🟠Section 23: Restrictions on opening of new, and transfer of existing, places of business
🟠Section 29: Accounts and balance-sheet
🟠Section 36AE : Power of Central Government to acquire undertakings of banking companies in certain cases
🟠Section 44A: Procedure for amalgamation of banking companies.
Note:👇👇
💥💥Amalgamation of two banking companies is under the provisions of Section 44A of the Banking Regulation Act, 1949.
💥💥Amalgamation of a banking company with a non-banking company is governed by sections 391 to 394 of the Companies Act, 1956.
🟠Section 47A: Power of Reserve Bank to impose penalty
🟠Section 49A: Restriction on acceptance of deposits withdrawable by cheque.