Brief overview on Banking
Banking law is a specialisation related to businesses which addresses the organization, ownership, and operation of banks and depository institutions, mortgage banks, other providers of financial services regulated or licensed by state or federal banking regulators, and holding companies (bank and other financial organizations). It also covers representation of banks and other financial organizations in lending transactions to borrowers and compliance with consumer and other laws involving all aspects of financial services provided by banks and other financial organizations.
The past few years have been the most challenging in the history of the international financial markets and have required fresh thinking as the markets adjust to continually changing economic, political and regulatory conditions. Renowned for our intellectual rigour, our banking and finance lawyers draw on deep product expertise and regularly work alongside our regulatory, litigation, restructuring and other specialists particularly important in light of recent market conditions to develop innovative solutions for our clients, often incorporating complex financing techniques that lead the industry.
Relevant Banking Laws:
|
1. |
Societies Registration Act |
1860 |
|
2. |
The Bankers’ Books Evidence Act |
1891 |
|
3. |
Indian Stamp Act |
1899 |
|
4. |
Co-operative Societies Act |
1912 |
|
5. |
Provident Funds Act |
1925 |
|
6. |
The Reserve Bank of India Act |
1934 |
|
7. |
Insurance Act |
1938 |
|
8. |
Central Excise Act |
1944 |
|
9. |
Public Debt Act |
1944 |
|
10. |
International Monetary Fund and Bank Act |
1945 |
|
11. |
Employees’ State Insurance Act |
1948 |
|
12. |
The Industrial Finance Corporation of India Act |
1948 |
|
13. |
The Banking Companies (Legal Practitioner Clients’ Accounts) Act |
1949 |
|
14. |
The Banking Regulation(Companies) Rules |
1949 |
|
15. |
The Banking Regulation Act |
1949 |
|
16. |
Contingency Fund of India Act |
1950 |
|
17. |
The State Financial Corporations Act |
1951 |
|
18. |
Employees Provident Fund and Miscellaneous Provisions Act |
1952 |
|
19. |
The Reserve Bank of India (Amendment and Misc. Provisions) Act |
1953 |
|
20. |
The State Bank of India Act |
1955 |
|
21. |
The State Bank of India (Subsidiary Banks) Act |
1959 |
|
22. |
The Subsidiary Banks General Regulation |
1959 |
|
23. |
The Deposit Insurance and Credit Guarantee Corporation Act |
1961 |
|
24. |
Nationalization of Banks Act (However, the government decided to nationalize 14 major commercial banks on 19th July 1969) |
1964 |
|
25. |
Banking Laws (Application to Co-operative Societies) Act |
1965 |
|
26. |
Banking Companies (Acquisition and Transfer of Undertaking) Act |
1969 |
|
27. |
The Nationalized Banks (Management and Miscellaneous Provisions) Scheme |
1970 |
|
28. |
The Banking Companies (Acquisition and Transfer of Undertakings) Act |
1970 |
|
29. |
The Regional Rural Banks Act |
1976 |
|
30. |
Foreign Contribution (Regulation) Act |
1976 |
|
31. |
The Banking Companies (Acquisition and Transfer of Undertakings) Act |
1980 |
|
32. |
The Export-Import Bank of India Act |
1981 |
|
33. |
The National Bank for Agriculture and Rural Development Act |
1981 |
|
34. |
Chit Fund Act |
1982 |
|
35. |
Shipping Development Fund Committee (Abolition) Act |
1985 |
|
36. |
Banking Companies (Regulation)Rules |
1985 |
|
37. |
The National Housing Bank Act |
1987 |
|
38. |
SIDBI Act |
1989 |
|
39. |
SIDBI General Regulations |
1990 |
|
40. |
Industrial Reconstruction Bank (Transfer of Undertaking & Appeal) Act |
1997 |
|
41. |
Foreign Exchange Management Act |
1999 |
|
42. |
Insurance Regulatory and Development Authority Act |
1999 |
|
43. |
The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act |
2002 |
|
44. |
Industrial Development Bank (Transfer of Undertaking & Repeal) Act |
2003 |
|
45. |
Credit Information Companies (Rules & Regulation) Act |
2005 |
|
46. |
Government Securities Act |
2006 |
|
47. |
The Banking Ombudsman Scheme |
2006 |