Some important acts

#Some_Important_Acts



🔴NEGOTIABLE INSTRUMENTACTS -1881



⚫Section 4 :- Promissory Notes

⚫Section 5 :-Bill of Exchange

⚫Section 6 :- Cheque

⚫Section 13 :- Negotiable instrument

⚫Section 123 :- Cheque Crossed Generally

⚫Section 124,126 : -Cheque Crossed Specially

⚫Section 130 : -Cheque bearing Not Negotiable

⚫Section 118 :- Presumption as to Negotiable instrument



🔴RESERVE BANK ACT (RBI ACT 1934)



⚫Section 17 :- Define Banking Business

⚫Section 18 :-Deals With Emergency Loan To Bank

⚫Section 22 :-Exclusive Rights To Issue Currency Notes In India

⚫Section 24 :-Maximum Denomination a Note Can Be Rs 10,000

⚫Section 26 :- Describe The Legal Tender Character of Indian Bank Notes

⚫Section 28 :-Form Rule Regarding The Exchange Of Damaged and imperfect Notes

⚫Section 31 :-In India only RBI or the central government issue and accept promissory notes that are payable on demand

⚫Section 42 :-Every schedule bank must have an average daily balance with RBI



🔴BANKING REGULATION ACT -1949



⚫Section 10 :-Power of RBI to appoint chairman of banking company

⚫Section 11 :-Recruitment as to minimum capital and reserve.

⚫Section 12 : -Regulation of Paid of capital, authorized capital,voting rights of shareholder

⚫Section 21 :-To control advances by banking company

⚫Section 21(A) : - Rate of interest charged by banking company

⚫Section 22 :- license of banking company

⚫Section 23 :-Restriction on opening transfer of business

⚫Section 29 :-Account and balance sheet

⚫Section 36 :-Power of central government to acquire banking company in a certain case

⚫Section 44 :-Amalgamation of banking company

⚫Section 47 :-Power of RBI to impose penalty



🔴Some Other Important Acts Related To Banking -



⚫SBI ACT: -1955

⚫SBI SUBSIDIARY ACT: - 1959

⚫DICGC ACT :- 1961

⚫EXIM ACT: - 1981

⚫NABARD ACT: - 1981

⚫RRB ACT: - 1976

⚫NHB ACT: - 1987

⚫SIDBI ACT :- 1989

⚫SARFASI ACT :- 2002

⚫FEMA ACT: - 1999

⚫CREDIT INFORMATION CORP :- 2005

⚫PMLA ACT: -2002