Banking Regulation Act, 1949 1. The law relating to banking came into force on 16.03.1949 under the name of the Banking Companies Act 1949. 2. W.e.f. 01.03.1966 its name was changed to Banking Regulation Act, 1949. 3. Originally the Act …
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a …
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a …
Right of Set Off Set off is the right to combine two or more accounts having debit and credit balance. It is not defined in any Act. This right arises when two parties are debtor as well as creditor to …
1. Scheduled Commercial Banks are required to maintain GRR as per section 42(1) of RBI Act. 2. Banks are required to maintain certain percentage of Net Demand & Time Liabilities as cash with RBI. 3. With effect from 1st April …