The Reserve Bank of India Act

Chapter IIIB not to apply in certain cases

Definitions

Requirement of registration and net owned fund

Maintenance of percentage of assets

Reserve fund

Power of Bank to remove directors from office

Supersession of Board of directors of non-banking financial company (Other than Government Company)

Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money

Power of Bank to determine policy and issue directions

Power  of  Bank to collect information  from  non - banking  institutions  as  to  deposits  and to give  directions

Power of Bank to call for information from financial institutions and to give directions

Duty of non-banking institutions to furnish statements, etc., required by Bank

Powers and duties of auditors

Power to take action against auditors

Power of Bank to prohibit acceptance of deposit and alienation of assets

Resolution of non-banking financial company

Power of Bank to file winding up petition

Inspection

Deposits not to be solicited by unauthorised person

Power in respect of group companies

Disclosure of information

Power of Bank to exempt

Omitted. 

[Omitted.]

Chapter IIIB to override other laws

Power of Company Law Board to offer repayment of deposit

Nomination by depositors


PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS 


The Bank, on being satisfied that it is necessary so to do, may
declare by notification in the Official Gazette that any or all of the provisions of this Chapter shall not
apply to a non-banking institution or a class of non-banking institutions or a non-banking financial
company or to any class or non-banking financial companies either generally or for such period as may be
specified, subject to such conditions, limitations or restrictions as it may think fit to impose.]

LAWGIST

# 45NC Power of Bank to exempt