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Banking Lawyers
Banking Lawyers

Banking Laws

Common questions on ‘Banking Law’

  • What are the banking laws in India?
  • What are applicable laws and regulations relating to banking?
  • Why do banking laws exist?
  • How does the government regulate the banks in India?
  • Can bank take money out of your account without your permission?

What are the banking laws in India?

Banking laws aim at providing a legal framework to Banking. These law are required for the smooth, and unquestionable process of working of banks, ambiguity or legal hassle of any sort w.r.t banks can result in massive monetary repercussions, these laws aim at the avoidance of those.

Some of the applicable laws to this topic:

  • Negotiable Instruments Act, 1881
  • Banking Regulation Act, 1949
  • Reserve Bank of India Act, 1934
  • Banking Companies (Acquisition and Transfer of Understandings) Act, 1970
  • Finance Act, 2011
  • Foreign Exchange Management Act, 1999

The period of present day banking backpedals to late eighteenth century. Bank of Hindostan was one of the first to be built up in the year 1770. It was the State Bank of India, which established the framework of present day banking in India post-independence in 1955. SBI was the amalgamation of 3 banks subsidized by the pre independence administration government, to be specific Bank of Bengal, Bank of Madras and Bank of Bombay. Concerning the focal banking expert (or might be alluded as statutory body), for long Presidency Banks acted in this position, till in 1935 Reserve Bank Of India (RBI), assumed control over the position, after the 1934 Reserve bank of India act was passed.

As per Section 131 of the Income Tax Act 1961, income tax authorities enjoy the same powers as those vested in a Court under the Code of Civil Procedure 1908. The banker may unveil the condition of his client's record keeping in mind the end goal to legitimately ensure his own particular interest. For instance, if the banker needs to recover the due loan from the client or the guarantor, exposure of important realities to the guarantor or the specialist ends up noticeably vital and is much legitimized.

RBI has made certain guidelines for the facilitation of better experience to the customers. The Banking Regulation Act 1949, gives the Reserve Bank of India (RBI) the ability to license banks, have direction over shareholding and voting privileges of shareholders; oversee the arrangement of the boards and administration; manage the operations of banks; set down guidelines for reviews; control ban, mergers and liquidation; issue orders in light of a legitimate concern for open great and on saving money strategy, and force punishments.

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Search Result : Banking Lawyers

Consult Expert Banking Lawyers in India


Abhimanyu Shandilya

Kolkata |

Area of Practice

  • Banking
  • Debt and Lending Agreement
  • Muslim Laws
  • Government Contracts
  • Insurance
Total Answers Given : 1990

Advocate Anik

Bangalore |

Area of Practice

  • Banking
  • Debt and Lending Agreement
  • Domestic Violence
  • Equipment Finance and Leasing
  • Human Rights
Total Answers Given : 10327

Anish Palkar

Mumbai | Thane | Mumbai suburban |

Area of Practice

  • Banking
  • Mutual Consent Divorce
  • Property
  • Sex Crime
  • Advertising
Total Answers Given : 827

Shrikrushna Tambde

Nagpur |

Area of Practice

  • Banking
  • Juvenile
  • Power Of Attorney
  • Sale Of Goods
  • Will

Girraj Prasad

Jaipur |

Area of Practice

  • Banking
  • Consumer Protection
  • Domestic Violence
  • Cheque Bounce
  • Civil

Vivek Tanwar

Gurgaon |

Area of Practice

  • Banking
  • Arbitration and Mediation
  • Criminal
  • Power Of Attorney

Kamendu Joshi

Ahmedabad |

Area of Practice

  • Banking
  • Cheque Bounce
  • Property
  • Contracts and Agreements
  • Trust And Society (NGO)

Prabhu N. Savanur Founder, Hari Om Legal

Bangalore |

Area of Practice

  • Banking
  • Commercial
  • Insurance
  • Sex Crime
  • Adoption
Total Answers Given : 1

Gopal Gupta

Kanpur |

Area of Practice

  • Banking
  • Tax-Property Tax
  • Sale Of Goods
  • Motor Accident
  • Power of Attorney
Total Answers Given : 8

Lakkaraju Srinivas

Hyderabad |

Area of Practice

  • Banking
  • Cheque Bounce
  • Corporate and Incorporation

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