Banking Innovations: Legal Framework in India

2025 Supreme(Online)(Ker) 49099

Banking Regulation Act , 1949 prior to the Banking Regulation (Amendment) Act, 2020 read as follows:— Banking Regulation Act , 1949 or any other law made by parliament could regulate the affairs of banking as well as aspects relating to incorporation, regulation and winding up of banking corporations with reference to Entries 43 and 45 of List-I.

2023 Supreme(Online)(NCLT) 2198

as defined in the banking companies Regulation Act, ORDER 1) This is a Company Application No.26/252/HDB/2023 filed under Section 252(3) of the Companies Act, 2013 (hereinafter referred to as the ‘Act’) filed by Mrs Indira Reddy Kudumula, D/o.Late Sri K.Jagan Mohan Reddy, Shareholder cum Director of M/s.Rutika Innovations ... belonging to or at the disposal of company to such person or company in particular to customers and others having dealings with company with or without security upon such terms as may be thought proper and to guarantee the performance....

2023 Supreme(Online)(NCLT) 947

The matter relates to Butterfly Innovations Private Limited (Applicant Company), a company incorporated under the Companies Act, 2013 and having its registered office at No.-378, Sector-10, Gurgaon, Haryana-122001. ... THE NATIONAL COMPANY LAW TRIBUNAL CHANDIGARH BENCH, CHANDIGARH CP No.80/Chd/Hry/2019 Under Section 441 of the Companies Act, 2013 In the matter of : Butterfly Innovations Private Limited Having ... company; (b) any class of non-banking financial company registered under Chapter IIIB of the Reserve Bank of India Act, 1934, a....

2025 Supreme(Online)(Kar) 36454

THE IDFC FIRST BANK A BANKING COMPANY, CARRYING ON THE BANKING BUSINESS UNDER THE BANKING REGULATION ACT, 1949. ... THE STATE BANK OF INDIA, A BANKING COMPANY, CARRYING ON THE BANKING BUSINESS UNDER THE BANKING REGULATION ACT, 1949. INCORPORATED UNDER THE COMPANIES ACT, 1956. ... THE IDBI BANK, A BANKING COMPANY, CARRYING ON THE BANKING BUSINESS UNDER THE BANKING REGULATION ACT, 1949. INCORPORATED UNDER THE COMPANIES ACT, 1956. ... ....

banking company? ... s book on the law of Banking at page 1 read as follows :- ? ... any company or body of persons carrying on the business of banking?. As regards the meaning of the word ?banking? see Hart?s Law of Banking 4 Ed., Vol.IV.p.1. There is no evidence as to the nature of the activities carried on in Rangoon. ... Basnayake, in reply-The Board of Review did not hold that the Ceylon Branch carried on a banking business. What was held was that the Ceylon Branch need no....

2025 Supreme(Online)(Tel) 56586

to that of full-fledged internet banking facility. ... As per Section 2(o) of the Act, ‘service’ includes banking service also. ... banking facility and transact their accounts by withdrawing the amounts, transferring the amounts or create or break fixed deposits through the App itself and also through internet banking facility. ... When once a request was made for upgrading the bank account from ‘view only’ facility to that of full-fledged internet banking facility, the petitioner-Bank has bona fidel....

2024 5 Supreme 629

(c) to secure the proper management of any banking company generally, it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit and the banking companies or the ... It cannot be gainsaid that the Banking Regulation Act 1949 basically seeks to regulate banking business and mandates a statutory comprehensive and formal structure of banking regulation and ....

2023 0 Supreme(Bom) 1429

(c) to secure the proper management of any banking company generally, it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit and the banking companies or the banking ... banking companies or the banking company are or is, as the case may be, bound to comply with such directions. ... management of any banking company generally. ... (....

2025 0 Supreme(Telangana) 756

to that of full-fledged internet banking facility. ... As per Section 2(o) of the Act, ‘service’ includes banking service also. ... banking facility and transact their accounts by withdrawing the amounts, transferring the amounts or create or break fixed deposits through the App itself and also through internet banking facility. ... When once a request was made for upgrading the bank account from ‘view only’ facility to that of full-fledged internet banking facility, the petitioner-Bank has bona fidely ....

2026 Supreme(Online)(MP) 706

responsibility of superintendence and control of the banking business in the country under the provisions of the Banking Regulation Act. ... banking company, showing sufficient cause for its failure to comply with the provisions of the Act. ... Cooperative Societies Act, 1960, is operating in District Shivpuri and is holding a banking license from the RBI. ... 12.Section 18(1-B) of the Banking Regulation Act, 1949 reads as under: "[(1B) Notwithstanding anything contained in this section, if the Reserve....

2021 0 Supreme(Guj) 68

If such a stand of the Department is entertained, then it would result into a very dangerous proposition whereby in each and every case where some investment is made, the case of such assessee shall be reopened merely on the alleged count that such investments are unexplained. “Investments in question were made by the partnership firm and not by the writ applicant. The mere fact that certain investment has been made by an assessee cannot be a ground so as to have reason to believe that income chargeable to tax has escaped assessment in the hands of such assessee. Such investments w....

2017 0 Supreme(All) 135

6. Forms of business in which banking companies may engage.—(1) (b) acting as agents for any Government or local authority or any other person or persons; the carrying on of agency business of any description including the clearing and forwarding of goods, giving of receipts and discharges and otherwise acting as an attorney on behalf of customers, but excluding the business of a (managing agent or secretary and treasurer) of a company; (a) the borrowing, raising, or taking up of money; the lending or advancing of money either upon or without security; the drawing, making, accepting, discoun....

Consumer

The banking activities have now-a-days increased manifold. The range of services rendered by the banks extends from rural finance at one end to international banking at the other. 4. It may be stated here that the banking industry is the life of a nation’s economy.

2005 0 Supreme(All) 492

( 5 ) APEX Society or Apex level society or state level co-operative societies are defined in section 2 (a-4) of the Act. Banking is one of the ways to promote economic interest and a co-operative society for banking may be formed. The Apex society in the banking sector is UP co-operative Bank Ltd.

2002 0 Supreme(Ker) 670

S.6 of the Banking Regulation Act, 1949 specifies the forms of business in which the Banking Companies may engage. It provides that in addition to the business of banking, a banking company may engage in any one or more of the following businesses, namely: "6(a) : the borrowing, raising, or taking up of money; the lending or advancing of money either upon or without security; the drawing, making, accepting; discounting, buying, selling, collecting and dealing in bills of exchange, hundies, promissory notes, coupons, drafts, bills of lading, railway receipts, warrants, deben....