Banking FinanceAct No. 10 of 1949In Force

The Banking Regulation Act, 1949

Governs the regulation of banking companies in India, providing for their licensing, supervision, management, reconstruction, and compulsory amalgamation. The RBI exercises supervisory powers under this Act. The 2020 amendment extended the Act's provisions to co-operative banks, subjecting them to RBI's prudential regulations.

Sections

Schedules

Ministry

Ministry of Finance

Last Amended

2020-09-29

Key Provisions

→Licensing of banking companies by RBI

→Capital and reserve requirements, capital adequacy norms

→Restrictions on business activities of banks

→RBI powers: inspection, audit, and directions

→Moratorium, amalgamation, and winding up of banks

→Branch licensing and permission for new branches

→Nomination facility for bank deposits

→2020 amendment: RBI regulation of co-operative banks

Related Practice Areas

banking-finance regulatory-compliance

banking regulationbank licenseRBI supervisionco-operative bankbank amalgamationbanking company

Section-by-Section Reference

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Indian government legislation is in the public domain under S.52(1)(q) of the Copyright Act, 1957. This reference is for educational purposes. Laws are amended frequently — verify the current text on the e-Gazette of India before relying on it for legal proceedings.