The Banking Regulation Act

Penaltie

Chairman, director, etc., to be public servants for the purposes of Chapter IX of the Indian Penal Code

Cognizance of offences

Power of Reserve Bank to impose penalt

Application of fines

Special provisions for private banking companies

Restriction on acceptance of deposits withdrawable by cheque

Change of name by a banking company

Alteration of memorandum of a banking company

Certain claims for compensation barre

Application of certain provisions to the State Bank of India and other notified banks

Power of Central Government to make rules

Power to exempt in certain cases

Protection of action taken under Act

Amendment of Act 2 of 1934

Power to remove difficultie


MISCELLANEOUS


(1) No suit or other legal proceeding shall be lie
against the Central Government, the Reserve Bank or any officer for anything which is in good faith
done or intended to be done in pursuance of this Act.

(2) Save as otherwise expressly provided by or under this Act, no suit or other legal proceeding
shall lie against the Central Government, the Reserve Bank or any officer for any damage caused or
likely to be caused by anything in good faith done or intended to be done in pursuance of this Act.


LAWGIST

# 54 Protection of action taken under Act