BANKING REGULATION ACT

1. The Banking Regulation Act, 1949 does not at all apply to- Primary agriculture credit societies and co-operative land mortgage banks.
2. Nothing contain in the Banking Regulation Act, 1949 (except section 34-A) applies to- Industrial Development Bank of India.
3. Section 11 of the Banking Regulation Act, 1949 stipulates that if a foreign bank wishes to carry on business in India at a place other than Bombay and Calcutta, the aggregate value of its paid-up capital and reserves shall not be less than- Rs. 15,00,000.00.
4. A foreign banking company having a place of business in the city of Bombay or Calcutta or both, must have an aggregate value of its paid up capital and reserves of amount not less than- Rs. 20,00,000.00.
5. In terms of the explanation (ii)(b) to section 35 of the Banking Regulation Act, 1949, inspection of branches of Indian banks situated abroad is to be carried out by- Reserve Bank of India.
6. No bank incorporated in India can open an office (place of business) outside India without obtaining prior permission of- Reserve Bank of India.
7. Section 16 of the banking Regulation Act, 1949 prohibits a person- to be appointed as director of more than one banking company.
8. Section 36AD of the Banking Regulation Act, 1949 lays down that no person shall- (i)obstruct any person from lawfully entering or leaving any office or any place of business of a banking company or from carrying on any business there, (ii) hold within the office of place of business of any banking company, any demonstration which is violent or which prevent, or is calculated to prevent, the transaction of normal business by the banking company, (iii) and act in any manner calculated to undermine the confidence of the depositors in the banking company.
9. Section 26 of the Banking Regulation Act, 1949 requires every banking company to submit an annual return to the Reserve Bank of India in respect of- all account in India which have not been operated upon for ten years.
10. In terms of section 29 of the Banking Regulation Act, 1949, every banking company is required to prepare its final account i.e., Profit and Loss Account and Balance Sheet in the forms prescribed in- the Third schedule to the Banking Regulation Act, 1949.
11. In terms of section 12 of the Banking Regulation Act, 1949, the minimum ratio between authorised, subscribed and paid-up capital of a banking company should be- 4 : 2 : 1.
12. Section 25 of the Banking regulation Act, 1949 lays down that the assets in India of every banking company at the close of business on the last Friday of every quarter shall- not be less than 75% of its demand and time liabilities in India.
13. As per section 9 of  the banking regulation act, 1949, no banking company shall hold any immovable property howsoever acquired, except such a is required for its own use, any period exceeding- seven(7) years.
14. Under section 17 of Banking Regulation Act, 1949 every banking company incorporated in India is required to transfer each year to a reserve fund a sum equivalent to not less than- 20% of profit before dividends.
15. Section 45 to the Banking Companies Act (now known as the Banking regulation Act), empowering the Government of India, on the recommendation of the Reserve Bank, to compulsorily amalgamate weak banks with string ones, was inserted ones, was inserted in the year 1960 following the failures of- The Laxmi bank and the Palai Central Bank.
16. Under section 23(1) of the banking regulation act, 1949, a banking company is exempted from obtaining prior permission of Reserve Bank of India for- change of premises within the same city, town, village.
17. Section 21 of the Banking Regulation Act, 1949 empowers Reserve Bank of India to- control advances by banking companies.
18. "Notwithstanding anything contained in the Usurious Loans Act, 1918 (10 of 1918) or any other law relating to indebtedness in force in any state, a transaction between company and its debtor shall not be reopened by any Court on the ground that the rate of interest charges by the banking company in respect of such transaction is excessive." This provision is contained in- Section 21A of the Banking Regulation Act, 1949.
19. In terms of section 6(1) of the Banking Regulation Act, 1949, a banking company may, in addition of the business of banking, engage in any one or more of the following forms of business- (i) acting as agents for any Government or local authority or any other person or persons,(ii) contracting for public and private loans and negotiating and issuing the same, (iii) and undertaking and executing trust.
20. Section 14A(1) of the banking regulation act, 1949 prohibits a banking company from- creating floating charges on the undertaking or any property of the company or any part thereof.
21. In terms of section 45Y of the Banking Regulation Act, 1949, the rules specifying the period for which a bank may preserve its books, account, instruments, documents etc. are made by- Central Government.
22. While returning a paid instrument to a customer in terms of section 45Z(1) of the Banking Regulation Act, 1949, the bank must- retain a true copy of all relevant parts of such instruments.
23. In terms of powers conferred under section 21 and 35A of the Banking Regulation Act, 1949, the Reserve Bank of India has advised banks that all transaction, including payment of interest on deposits/charging interest on advances, should be rounded off to the nearest multiple of- 1 rupee(now-please confirm).