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....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Sale of Equity shares for Purchase of Residential Property
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- GST Reverse
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Gstr7 vs Gstr3b 2026
- Gst return - cess
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
