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List of Important Banking Acts

List of Important Banking Acts – This article will upkeep you with Reforms in Banking Sector. Different Indian Banking Reforms and Acts Pre and post-freedom that are solicited in the general mindfulness segment from serious tests alongside the years they were actualized are given.

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Acts And Reforms In Banking Sector

The presentation of changes in the financial part depended on the honors of various boards.

The committees that proposed the Banking sector reforms are as mentioned below:

  • The first Narasimhan Committee- 1991
  • The Verma Committee – 1996
  • The Khan Committee – 1997
  • The Second Narasimhan Committee – 1998

List of Important Banking Acts

S No. Names of the Banking Acts and Reforms Years
1 Societies Registration Act 1860
2 Negotiable Instrument Act 1881
3 Indian Trusts Act 1882
4 The Bankers’ Books Evidence Act 1891
5 Indian Stamp Act 1899
6 Co-operative Societies Act 1912
7 Provident Funds Act 1925
8 Indian Partnership Act 1934
9 The Reserve Bank of India Act 1934
10 Insurance Act 1938
11 Central Excise Act 1944
12 Public Debt Act 1944
13 International Monetary Fund and Bank Act 1945
14 Employees’ State Insurance Act 1948
15 The Industrial Finance Corporation of India Act 1948
16 The Banking Companies (Legal Practitioner Clients’ Accounts) Act 1949
17 The Industrial Disputes (Banking and Insurance Companies) Act 1949
18 The Banking Regulation(Companies) Rules 1949
19 The Banking Regulation Act 1949
20 Chartered Accountants Act 1949
21 Contingency Fund of India Act 1950
22 The State Financial Corporations Act 1951
23 Employees Provident Fund and Miscellaneous Provisions Act 1952
24 The Reserve Bank of India (Amendment and Misc. Provisions) Act 1953
25 The Industrial Disputes (Banking Companies) Decision Act 1955
26 The State Bank of India Act 1955
27 Life Insurance Corporation Act 1956
28 Companies Act 1956
29 Central Sales Tax Act 1956
30 The State Bank of India (Subsidiary Banks) Act 1959
31 The Subsidiary Banks General Regulation 1959
32 The Deposit Insurance and Credit Guarantee Corporation Act 1961
33 Customs Act 1962
34 Unit Trust of India Act 1963
35 Limitation Act 1963
36 Nationalization of Banks Act (However, the government decided to nationalize 14 major commercial banks on 19th July 1969) 1964
37 Banking Laws (Application to Co-operative Societies) Act 1965
38 Banking Companies (Acquisition and Transfer of Undertaking) Act 1969
39 The Nationalized Banks (Management and Miscellaneous Provisions) Scheme 1970
40 The Banking Companies (Acquisition and Transfer of Undertakings) Act 1970
41 The Regional Rural Banks Act 1976
42 Foreign Contribution (Regulation) Act 1976
43 The Banking Companies (Acquisition and Transfer of Undertakings) Act 1980
44 The Export-Import Bank of India Act 1981
45 The National Bank for Agriculture and Rural Development Act 1981
46 Chit Fund Act 1982
47 Sick Industrial Companies (Special Provisions)Act 1985
48 Shipping Development Fund Committee (Abolition) Act 1985
49 Banking Companies (Regulation)Rules 1985
50 The National Housing Bank Act 1987
51 SIDBI Act 1989
52 SIDBI General Regulations 1990
53 Securities and Exchange Board of India Act 1992
54 The Special Court (trial of Offences relating to Transactions in Securities) Act 1992
55 The Industrial Finance Corporation (Transfer of Undertakings and Repeal) Act 1993
56 Recovery of Debts due to Banks and Financial Institutions Act 1993
57 Debts Recovery Appellate Tribunal (Procedure) Rules 1994
58 Industrial Reconstruction Bank (Transfer of Undertaking & Appeal) Act 1997
59 Foreign Exchange Management Act 1999
60 Insurance Regulatory and Development Authority Act 1999
61 Prevention of Money Laundering Act 2002
62 Fiscal Responsibility and Budget Management Act 2002
63 The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002
64 Industrial Development Bank (Transfer of Undertaking & Repeal) Act 2003
65 Credit Information Companies (Rules & Regulation) Act 2005
66 Government Securities Act 2006
67 The Banking Ombudsman Scheme 2006
68 Factoring Act Rules 2011
69 SARFAESI (Central registry) Rules 2011
70 Securities Law (Amendment) Act 2014
71 The Regional Rural Banks (Amendment) Act – Diluted the sharing pattern by limiting the composite share of Central Government and sponsor bank to 51% 2014
72 The Insurance Laws (Amendment) Act- pushed FDI limit to 49% 2015
73 The Companies Act (Amended) (legislated in 1956) 2015

List of Important Banking Terms and Abbreviations – Click Here

List of Important Banking Terms – Click Here

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