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import-and-export

LEGAL & REGULATORY ASPECTS OF BANKING

Objectives :

The candidates would be able to acquire knowledge in

  • The legal & regulatory framework of the banking system
  • land the various laws and enactments affecting day to day Banking operations

Module A - Regulations and Compliance

The questions in this section will be with reference to legal issues and problems-

  1. Provisions of RBI Act 1935 ,Banking Regulation Act 1949 Banking Companies [Acquisition and transfer of undertakings Act 1970 & 1980]
  2. Government and RBI’s powers
  • Opening of new banks and branch licensing
  • Constitution of board of directors and their rights
  • Banks share holders and their rights
  • CRR / SLR concepts
  • Cash / currency management
  • Winding up - amalgamation and mergers
  • Powers to control advances - selective credit control - monetary and credit policy
  • Audit and Inspection
  • Supervision and control - board for financial supervision - its scope and role
  • Disclosure of accounts and balance sheets
  • Submission of returns to RBI etc.
  • Corporate Governance.
  • Module B - Legal aspects of banking operations

    Case laws on responsibility of paying / collecting banker Indemnities / guarantees - scope and application-obligations of a banker - precautions and rights-laws relating to bill finance,LC and Deferred Payments-Laws relating to securities-valuation of securities-modes of charging securities-lien,pledge,mortgage, hypothecation etc-registration of firms/companies-creation of charge and satisfaction of charge.

    Module C - Banking Related Laws

    Law of limitation

    Provisions of Bankers Book Evidence Act

    Special features of Recovery of Debts Due to Banks and Financial Institutions Act, 1993

    (A) TDS, (B) Banking Cash Transaction tax, (C) Service Tax, (D) Asset Reconstruction Companies

    The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002

    (a) The Consumer Protection Act 1986, (b) Banking Ombudsman (c) Lok Adalats (d) Lender’s Liability Act

    Module D -Commercial Laws with reference to banking operations

    Indian Contract Act, 1872 (Indemnity, Guarantee, Bailment, Pledge and Agency etc) The Sale of Goods Act, 1930 (Sale and Agreement to Sell, Definitions, Conditions and Warranties, Express and Implied, Right of unpaid Seller etc)

    The Companies Act, 1956 Definition, features of company, Types of Companies, Memorandum, Articles of Association, Doctrines of Ultravires, indoor management and constructive notice, membership of company-acquisition-cessation, rights and duties of members and register of members,Prospects and directors.

    Indian Partnership Act, 1932 Definition and types of partnership,relation of partners to one another-Relation of partners to third parties, Minor admitted to the benefits of Partnership,Dissolution of firm

    Effect of non - registration - The Transfer of property Act

    1. Foreign Exchange Management Act, 2000
    2. Prevention of Money Laundering Act
    3. Right to Information Act.
    4. Information Technology Act.

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