Explain the general principles relating to secured loan.

Introduction -     When it comes to secured loans, there are a few general principles that you need to know. In this article, we'll disc...

What is Mortgage and Liabilities of the Mortgagee? (Banking Law)

What is Mortgage -              According to Section 58(a) of the Transfer of Property Act, 1882 A mortgage is the transfer of an intere...

Non Banking Financial Companies (Reserve Bank Of India Act 1934)

Introduction -      Chapter III B of the Reserve Bank of India Act,1934 the provisions relating to non-banking institutions receiving dep...

General Relationship between Banker and Customer

Introduction          The Relation between Banker and Customer is Contractual. It is regulated by general provisions of the law of contr...

Licensing of banking companies (Section 22 of the Banking Regulation Act 1949)

Licensing of banking companies -               According to Section 22 (1) of the Banking Regulation Act, 1949 no on company shall carry...

Prohibition of trading under the Banking Regulation Act 1949

Introduction -         The Banking Companies Act 1949 was passed to consolidate and amend the law relating to banking companies.  This Ac...

Termination of the relationship between a Banker and a Customer.

Who is a customer? Meaning of a customer -    According to the Chambers dictionary," a customer is one who is accomplished to frequ...

What is Hundi/Poorja in Business Law, Kinds of Hundies

What is Hundi/Poorja -     A  Hundi may be defined as a bill of exchange drawn in a vernacular language in accordance with the custom of...

What is bank Draft? What are the Characteristics of Bank Draft

Meaning and Definition of Bank Draft -          The Term 'Draft' has not been included in the definition of  Negotiable Instrumen...

Parties to Negotiable Instrument | Banking Law

Meaning and definition of Negotiable Instrument -       According to Black's dictionary of Law Negotiable instrument is written and...

Management of Reserve Bank of India (Section 7 of RBI Act)

           Reserve Bank of India Act was passed in 1934  and The Reserve Bank of India was established in the year 1935. Section 7 of The R...

Departments of Reserve Bank of India

   As we all know that the Reserve Bank of India is the central bank of the country.  Reserve Bank of India was established in April 1935 u...

Compensation on Dishonor | Banking Law

Compensation on Dishonor              Chapter XII Compensation, Section 117 of the Negotiable Instruments Act 1881 provides the followi...

Auditors - Appointment, Powers and Duties of Auditors under RBI Act, 1949

Introduction -        A charted Accountant can be appointed as a Company Auditor. A Charted Accountants means a person who is a memb...

Cash reserve (Section 18) the Banking Regulation Act, 1949

         Section 18 of the Banking Regulation Act 1949 deals with the provision Cash Reserve.  It is substituted by the amendment of 1984 ...

Reserve Fund (Section 17 of the Banking Regulation Act,1949)

               The provision of Reserve fund is substituted by amendment of 1949 w.e.f  01/10/1959. Section 17 of the Banking Regulation Ac...

Maintenance of a percentage of assets (Section 24) | Banking Regulation Act, 1949

          Part II Business of Banking Companies, Banking Regulation Act 1949 Section 24 speaks about maintenance of a percentage of assets....

Restrictions on loans and advances (Section 20) | Banking Regulation Act, 1949

      Section 20 of the Banking Regulation Act 1949 lay down restrictions on loans and advances has been wholly amended from 1 February 196...