Business entity or not
This query is : Resolved
03 October 2012
RBI is covered under definition of business entity or not
03 October 2012
RBI is Regulatory Body and not business entity.
Legal Framework:
Umbrella Acts
Reserve Bank of India Act, 1934: governs the Reserve Bank functions
Banking Regulation Act, 1949: governs the financial sector
Acts governing specific functions
Public Debt Act, 1944/Government Securities Act (Proposed): Governs government debt market
Securities Contract (Regulation) Act, 1956: Regulates government securities market
Indian Coinage Act, 1906:Governs currency and coins
Foreign Exchange Regulation Act, 1973/Foreign Exchange Management Act, 1999: Governs trade and foreign exchange market
"Payment and Settlement Systems Act, 2007: Provides for regulation and supervision of payment systems in India"
Acts governing Banking Operations
Companies Act, 1956:Governs banks as companies
Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980: Relates to nationalisation of banks
Bankers' Books Evidence Act
Banking Secrecy Act
Negotiable Instruments Act, 1881
Acts governing Individual Institutions
State Bank of India Act, 1954
The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003
The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993
National Bank for Agriculture and Rural Development Act
National Housing Bank Act
Deposit Insurance and Credit Guarantee Corporation Act
Legal Framework:
Umbrella Acts
Reserve Bank of India Act, 1934: governs the Reserve Bank functions
Banking Regulation Act, 1949: governs the financial sector
Acts governing specific functions
Public Debt Act, 1944/Government Securities Act (Proposed): Governs government debt market
Securities Contract (Regulation) Act, 1956: Regulates government securities market
Indian Coinage Act, 1906:Governs currency and coins
Foreign Exchange Regulation Act, 1973/Foreign Exchange Management Act, 1999: Governs trade and foreign exchange market
"Payment and Settlement Systems Act, 2007: Provides for regulation and supervision of payment systems in India"
Acts governing Banking Operations
Companies Act, 1956:Governs banks as companies
Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980: Relates to nationalisation of banks
Bankers' Books Evidence Act
Banking Secrecy Act
Negotiable Instruments Act, 1881
Acts governing Individual Institutions
State Bank of India Act, 1954
The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003
The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993
National Bank for Agriculture and Rural Development Act
National Housing Bank Act
Deposit Insurance and Credit Guarantee Corporation Act
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