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Important Banking regulation acts in india for bank exams


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Lists of all important banking acts for banking exams
  1. Negotiable Instrument Act–1881
  2. The Bankers’Books Evidence Act–1891
  3. The ReserveBank of India Act–1934
  4. The Industrial Finance Corporation of India Act–1948
  5. The Banking Companies (Legal Practitioner Clients’ Accounts) Act–1949
  6. The Industrial Disputes (Banking and Insurance Companies) Act–1949
  7. The Banking Regulation(Companies) Rules–1949
  8. The Banking Regulation Act–1949
  9. The State Financial Corporations Act–1951
  10. The Reserve Bank of India (Amendment and Misc. Provisions) Act–1953
  11. The Industrial Disputes (Banking Companies) Decision Act–1955
  12. The State Bank of India Act–1955
  13. The State Bank of India (Subsidiary Banks) Act-1959
  14. The Subsidiary Banks General Regulation–1959
  15. The Deposit Insurance and Credit Guarantee Corporation Act–1961(DICGC)
  16. The Banking Companies (Acquisition and Transfer of Undertakings) Act–1970
  17. The Regional Rural Banks Act–1976
  18. The Banking Companies (Acquisition and Transfer of Undertakings) Act–1980
  19. The Export-Import Bank of India Act–1981
  20. The National Bank for Agriculture and Rural Development Act–1981
  21. Chit Fund Act–1982
  22. Sick Industrial Companies (Special Provisions)Act–1985
  23. The National Housing Bank Act–1987
  24. SIDBI Act–1989
  25. The Special Court (trial of Offences relating to Transactions in Securities) Act–1992
  26. The Industrial Finance Corporation (Transfer of Undertakings and Repeal) Act–1993
  27. Industrial Reconstruction Bank (Transfer of Undertaking & Appeal) Act–1997
  28. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act–(SARFASI-2002)
  29. Industrial Development Bank (Transfer of Undertaking & Repeal) Act–2003
  30. Credit Information Companies (Rules & Regulation) Act–2005
  31. The Industrial Finance Corporation of India Act–1948
  32. The Banking Companies (Legal Practitioner Clients’ Accounts) Act–1949
  33. The Industrial Disputes (Banking and Insurance Companies) Act–1949
  34. The State Financial Corporations Act–1951
  35. The Reserve Bank of India (Amendment and Misc. Provisions) Act–1953
  36. The Industrial Disputes (Banking Companies) Decision Act–1955
  37. The State Bank of India Act–1955
  38. The State Bank of India (Subsidiary Banks) Act-1959
  39. The Subsidiary Banks General Regulation–1959
  40. The Deposit Insurance and Credit Guarantee Corporation Act–1961
  41. The National Bank for Agriculture and Rural Development Act–1981
  42. Chit Fund Act–1982
  43. Shipping Development Fund Committee (Abolition)Act–1985
  44. Sick Industrial Companies (Special Provisions)Act–1985
  45. The National Housing Bank Act–1987
  46. The Special Court (trial of Offences relating to Transactions in Securities) Act–1992
  47. The Industrial Finance Corporation (Transfer of Undertakings and Repeal) Act–1993
  48. Industrial Reconstruction Bank (Transfer of Undertaking & Appeal) Act–1997
  49. SIDBI General Regulations, 1990
  50. Banking Regulation (Companies) Rules 1949
  51. The Nationalised Banks (Management and Misc. Provisions)Scheme,1970
  52. NABARD General Regulations 1982
  53. Banking Companies (Period of Preservation of Records) Rules, 1985
  54. Banking Companies (Regulation)Rules,1985
  55. NABARD Bonds Regulations — 1988
  56. The Banking Ombudsman Scheme, 2006
  57. Factoring Act Rules, 2011
  58. SARFAESI (Central registry) Rules,2011
  59. Banker’s Books Evidence Act, 1891
  60. Banking Regulation Act, 1949
  61. Banking Companies (Legal Practitioners’ Clients’ Account) Act, 1949
  62. Banking Regulation (Companies) Rules, 1949
  63. Banking Companies (Acquisition and Transfer of Undertaking) Act, 1969
  64. Debts Recovery Appellate Tribunal (Procedure) Rules,1994
  65. Foreign Contribution (Regulation) Act, 1976
  66. Foreign Exchange Management Act, 1999
  67. Indian Partnership Act, 1932
  68. Indian Stamp Act, 1899
  69. Indian Trusts Act, 1882
  70. Limitation Act, 1963
  71. Recovery of Debts due to Banks and Financial Institutions Act,1993
  72. Reserve Bank of India Act — 1934
Negotiable Instruments Act, 1881
  • Section 4 – Promissory note
  • Section 5 – Bill of exchange
  • Section 6 – Cheque
  • Section 13 – Negotiable Instruments
  • Section 123 – Cheque Crossed Generally
  • Section 124, 126 – Cheque crossed specially
  • Section 130 – Cheque bearing Not Negotiable
  • Section 118 – Presumptions as to Negotiable Instruments
Reserve Bank of India Act, 1934
  • Section 17 – Defines Business of RBI
  • Section 18 – Deals with Emergency loans to Banks
  • Section 22 – only RBI has the exclusive rights to issue currency notes in India.
  • Section 24 – maximum denomination a note can be Rs. 10,000.
  • section 26 – Describes the legal tender character of Indian bank notes.
  • Section 28 – Allows the RBI to form rules regarding the exchange of damaged and imperfect notes.
  • Section 31 – In India only the RBI or the central government can issue and accept promissory notes that are payable on demand.
  • Section 42(1) – Every scheduled bank must have an average daily balance with the RBI


  1. Banking Regulation Act, 1949
The Act provides a framework under which commercial banking in India is supervised and regulated. The Act supplements the Companies Act, 1956.

 Primary Agricultural Credit Societyand cooperative land mortgage banks are excluded from the Act.

The Act gives the Reserve Bank of India (RBI) the power to license banks, have regulation over shareholding and voting rights of shareholders; supervise the appointment of the boards and management; regulate the operations of banks; lay down instructions for audits; control moratorium, mergers and liquidation; issue directives in the interests of public good and on banking policy, and impose penalties.


SARFAESI (Central registry) Rules,2002

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act) is an Indian law. It allows banks and other financial institution to auction residential or commercial properties (of Defaulter) to recover loans. The first asset reconstruction company (ARC) of India, ARCIL, was set up under this act.

Under this act secured creditors (banks or financial institutions) have many right for enforcement of security interest under section 13 of SARFAESI Act, 2002. If borrower of financial assistance makes any default in repayment of loan or any installment and his account is classified as Non performing Asset by secured creditor,then secured creditor may require before expiry of period of limitation by written notice.


  1. The Deposit Insurance and Credit Guarantee Corporation Act–1961
Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of Reserve Bank of India. It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities.

 DICGC insures all bank deposits, such as saving, fixed, current, recurring deposit for up to the limit of Rs. 500,000 of each deposits in a bank.