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


The Reserve Bank of India Act, 1934 (2 of 1934), shall be
amended in the manner specified in the fourth column of the First Schedule, and the amendments to
section 18 thereof as specified in the said Schedule shall be deemed to have had effect on and from the
20th day of September, 1947.

LAWGIST

# 55 Amendment of Act 2 of 1934