Question

List the important sections in banking regulation act

Answer 1

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.

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