WebCentral Government Act. Section 11(2)(b) in BANKING REGULATION ACT,1949. (b) 77[the banking company shall deposit and keep deposited with the Reserve Bank either in cash … Web2 Jan 2024 · The Supreme Court (SC) on Monday in a verdict on pleas challenging the central government’s 2016 decision to demonetise bank notes of Rs 1,000 and Rs 500 holds that the power under Section 26 (2) of the RBI Act can be used to demonetise whole series of currency notes. A five-judge Constitution Bench of the SC has rejected the challenge by …
Powers of RBI (Reserve Bank of India Powers) - An Overview
Web13 Apr 2024 · Outsourcing. ‘Outsourcing’ is defined as the NBFC’s use of a third party (either an affiliated entity within a corporate group or an entity that is external to the corporate group) to perform activities on a continuing basis that would normally be undertaken by the NBFC itself, now or in the future. ‘Outsourcing’ may be defined as a ... The Act contains the definition of the so-called scheduled banks, as they are mentioned in the 2nd Schedule of the Act. These are banks which were to have paid up capital and reserves above 5 lakh. There are various section in the RBI Act but the most controversial and confusing section is Section 7. Although this section has been used only once by the central govt, it puts a restriction … fqhc maternity care
India Code: Banking Regulation Act, 1949
WebAct ID: 194910: Act Number: 10: Enactment Date: 1949-03-10: Act Year: 1949: Short Title: The Banking Regulation Act, 1949: Long Title: An Act to consolidate and amend the law relating to banking. ... Section 11. Requirement as to minimum paid-up capital and reserves. Section 12. Regulation of paid-up capital, subscribed capital and authorised ... Web25 Nov 2024 · Section 21 : It entrusts the RBI with the management of the public debt and with the issue of loans to the Central government. Section 22 : It gives the RBI the sole right to issue bank notes in the country. Section 24 : It mentions the denominations of the notes that can be in circulation. On the recommendation of the RBI, the Central ... Web17 hours ago · Note on NBFC-CICs NBFCs: As per section 45-I(c) read with section 45-I(f) of RBI Act, 1934, NBFC means: a financial institution which is a company; a non-banking … fqhc medical facilities finder