Ca final : the banking regulation act, 1949
This query is : Open
29 April 2013
As per section 7, The Banking Regulation Act, 1949 restricts the use of the terms "bank", "banking", "banker" or "banking company" other than by a banking company.
My question is how can a "Blood Bank" or an "Eye Bank" use the word "Bank"?
Are they excluded from the purview of the Act?
Waiting for earliest reply........
My question is how can a "Blood Bank" or an "Eye Bank" use the word "Bank"?
Are they excluded from the purview of the Act?
Waiting for earliest reply........
30 April 2013
sub section(1) No company
other than a banking company
sub section (2)No firm, individual or group of individuals
these above are restricted in the BRA,1949
and a blood bank or a eye bank is not any of the above, hence can use this word.
other than a banking company
sub section (2)No firm, individual or group of individuals
these above are restricted in the BRA,1949
and a blood bank or a eye bank is not any of the above, hence can use this word.
30 April 2013
Dear Sir,
Thank You for your reply....
But I still have a doubt regarding the type / form of organization these blood bank and eye banks are ?
Waiting for earliest reply....
Thank You for your reply....
But I still have a doubt regarding the type / form of organization these blood bank and eye banks are ?
Waiting for earliest reply....
30 April 2013
THESE BANKS ARE JUST NAME OF FACILITIES PROVIDED BY MANY ORGANISATION , WHICH MAY BE A HOSPITAL, CHARITABLE OR RELIGIOUS TRUST, A GROUP OF PEOPLE, UNINCORPORATED AOP OR SOCIETIES ETC,
SO IT DEPENDS WHO'S PROVIDING THE SERVICE.
BLOOD BANK ITSELF IN NOT ANY PERSON.
SO IT DEPENDS WHO'S PROVIDING THE SERVICE.
BLOOD BANK ITSELF IN NOT ANY PERSON.
30 April 2013
I sincerely thank you sir for your reply....
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