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The main question which arose was whether the rules of evidence in Indian banking would be governed by British legislation, as India was then a British colony. As a result, it was decide to adapt and adopt the Bankers' Books Evidence Act, 1879 of the British Parliament to Indian banking.
The Indian Evidence Act, identified as Act no. 1 of 1872, [5] and called the Indian Evidence Act, 1872, has eleven chapters and 167 sections, and came into force on 1 September 1872. At that time, India was a part of the British Empire. Over a period of more than 150 years since its enactment, the Indian Evidence Act has basically retained its ...
The Banking Regulation Act, 1949 is a legislation in India that regulates all banking companies in India. [1] Passed as the Banking Companies Act 1949, it came into force on 16 March 1949 and changed to Banking Regulation Act 1949 from 1 March 1966. It is applicable in Jammu and Kashmir from 1956. Initially, the law was applicable only to ...
Financial regulation in India is governed by a number of regulatory bodies. [1] Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system.
Negotiable Instruments Act, 1881 is an act in India dating from the British colonial rule, that is still in force with significant amendments recently. It deals with the law governing the usage of negotiable instruments in India.
Banking sector woes: The Indian banking sector has been grappling with a high level of non-performing assets (NPAs) or bad loans. This has led to a credit crunch, with domestic banks becoming more cautious in lending especially to the MSME Sector, which in turn has constrained investment and growth in the country.
Olena Ruban/Getty Images. 4. Incompatible: Taurus and Aquarius. The zodiac’s bull is stable and predictable, especially in matters of the heart.That can spell romance and reliability for some ...
By 2013 the Indian Banking Industry employed 1,175,149 employees and had a total of 109,811 branches in India and 171 branches abroad and manages an aggregate deposit of ₹ 67,504.54 billion (US$810 billion or €830 billion) and bank credit of ₹ 52,604.59 billion (US$630 billion or €640 billion).