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Consult and get Expert Advice on Banking Laws matters from the Banking Lawyers in India.
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Consult Banking Lawyers in India

Anish  Palkar

Anish Palkar

Exp
Mumbai suburban , Maharashtra

Specialization

  • Banking
  • Divorce
  • Documentation
  • Bankruptcy and Debt
  • Contracts and Agreements
Total Answers Given : 939
ROHIT  DALMIA

ROHIT DALMIA

Exp
Mumbai suburban , Maharashtra

Specialization

  • Banking
  • Debt Collection
  • Employment and Labour
  • Divorce
  • Cheque Bounce
Total Answers Given : 127
Prithvi  Raj Sikka

Prithvi Raj Sikka

Exp
Delhi , Delhi

Specialization

  • Banking
  • Commercial
  • Contracts and Agreements
  • Intellectual Property, Copyright, Patent, Trademar
  • Arbitration and Mediation
Total Answers Given : 19
Kalpana  Sanap

Kalpana Sanap

Exp
Pune , Maharashtra

Specialization

  • Banking
  • Commercial
  • Will
  • Trust and Society (NGO)
  • Sexual Harassment at Workplace
Total Answers Given : 15
Arvind  Tripathi

Arvind Tripathi

Exp
Allahabad , Uttar Pradesh

Specialization

  • Banking
  • Civil
  • Criminal
  • Domestic Violence
  • Military Laws
Total Answers Given : 2
Bharat  Majmundar

Bharat Majmundar

Exp
Vadodara , Gujarat

Specialization

  • Banking
  • Civil
  • Industrial Laws
  • Family
  • Criminal
Total Answers Given : 1
Karunasish  Chakraborty

Karunasish Chakraborty

Exp
Kolkata , West Bengal

Specialization

  • Banking
  • Consumer Protection
  • Divorce
  • Civil
  • Contracts and Agreements
Vivek  Tanwar

Vivek Tanwar

Exp
Gurgaon , Haryana

Specialization

  • Banking
  • Criminal
  • Arbitration and Mediation
  • Sexual Harassment at Workplace
  • Corporate and Incorporation
Anik

Anik

Exp
Bangalore , Karnataka

Specialization

  • Banking
  • Cyber, Internet, Information Technology
  • Anticipatory Bail
  • Consumer Protection
  • Mutual Consent Divorce
Total Answers Given : 22606
Prabhakara S K Shetty

Prabhakara S K Shetty

Exp
Bangalore , Karnataka

Specialization

  • Banking
  • Family
  • Property
  • Will
  • Domestic Violence
Total Answers Given : 668
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Your Legal Matter
  • 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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