Tannan's Banking Law and Practice in India [Twenty-Sixth Edition]

Tannan’s Banking Law and Practice in India is a classic compendium on banking law and practices in the country, which, over the years, has been tremendously valuable to students, bankers, analysts, courts, regulators, and almost anyone else concerned with banking practices. I consider it to be an honour to have been associated with this edition of the book. Banking law has several elements: • Regulation of banks by the banking supervisor • Bank and customer relationships • Trade transactions settled through banks – for example, by use of negotiable instruments or payment instructions • Lending activities of banks and recovery of loans • Remittance activities of banks, including digital payments
Additional Info
  • Publisher: LexisNexis®
  • Language: English
  • Chapter 1

    Introductory Price 3.00  |  3 Rewards Points


    Evolution of Banking Institutions

    • Origin of the word “Bank”
    • Early history of banking

    Evolution of Banking Law

    • Meaning of banking law
    • Law merchant
    • Lord Mansfield’s ruling

    Development of British Banking

    • Royal exchanger
    • Goldsmiths
    • Early beginning of “Issue” and “Deposit” banking
    • “Current Account”

    Bank of England

    • The Tonnage Act
    • Monopoly of note issue
    • Limited circulation of Bank of England notes
    • Restriction on monopoly
    • Joint stock banking invades London
    • Peel’s Act of 1844
    • 1.16. Growth of deposit banking and cheque currency

    History of Banking Institutions in India

    • Money economy 
    • Credit in ancient economy
    • Banking meant money-lending
    • Banker’s status and service


    • Meaning—collection of debts
    • In days of the Mahabharata
    • Type of ‘Hundis’
    • Nature of document a promissory note or a hundi
    • Legislative attempts to regulate the law on bills on exchange  and promissory notes


    • Personal element
    • Usury—The Usurious Loans Act, 1918
    • Money-Lender—Banking is my brains and other people’s money
    • Indian money-lender – His apparent decline
    • State Money—Lenders Acts
    • Major events in the history of banking in India

    Steady Remodelling of Banking Laws in India

    • Indian Banking Law steadily remodeled 
  • Chapter 2

    Banking System and Banks in India Price 3.00  |  3 Rewards Points


    History of Indian Banking System

    • Indian Banking and Financial System
    • Evolution of Banking System and Banks in India
    • Reserve Bank of India (RBI) nationalised in 1949
    • The Banking Regulation Act, 1949 (10 of 1949)
    • Banking System under Governmental Control
    • Regulation and Supervision of Public Sector Banks (PSBs)
    • Scheduled Commercial Banks (SCBs), RRBs and Co-operative Banks
    • Payment Banks and Small Finance Banks
    • Liberalisation of Indian Banking and Financial System

    State Bank of India (SBI)

    • The State Bank of India Act, 1955 (23 of 1955)
    • Number of Branches of State Bank of India and its Associates
    • The State Bank of India (Amendment) Act, 2007 (32 of 2007)
    • The State Bank of India (Amendment) Act, 2010
    • Applicability of the Banking Regulation Act, 1949 to SBI

    SBI Subsidiary Banks

    • The State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959)
    • Merger of Subsidiary or Associate Banks with SBI

    “Social Control” on Banks

    Nationalisation of 14 Major Banks

    • Nationalisation of fourteen banks
    • Nationalisation of six more banks

    Statutes Governing Public Sector Banks (PSBs)

    • The Banking Regulation Act, 1949
    • Statutes governing Public Sector Banks (PSBs)
    • Corporate Governance in Banks

    Scheduled Commercial Banks (SCBs)

    • SCBs Anchor of the Indian banking system
    • Number of Scheduled Commercial Banks (SCBs)
    • Number of Branches of Scheduled Commercial Banks (SCBs)
    • Distribution of Commercial Bank Branches in India

    Lead Bank Scheme (LBS)

    • Lead Bank Scheme (LBS) introduced by RBI in 1969
    • Banks in “lead role” to act as Consortium Leaders in District
    • Working of the Lead Bank Scheme (LBS)
    • Financial Inclusion and Lead Bank Scheme
    • High Level Committee to Review the Lead Bank Scheme (LBS)
    • Difficulties in implementation of Scheme
    • Recommendations of the High Level Committee on LBS
    • Implementation of Recommendations of High Level Committee on LBS

    Regional Rural Banks (RRBS)

    • The Regional Rural Banks Act, 1976 (21 of 1976)
    • Objectives of Regional Rural Banks (RRBs)
    • Establishment and incorporation of RRBs
    • Capital of Regional Rural Banks (RRBs)
    • Management of the RRBs [Section 8 of the RRB Act, 1976]
    • Business of a Regional Rural Bank (RRB)
    • Regulation by the RBI/NABARD
    • Liberalisation of Branch Licensing Norms for Expansion of RRBs
    • RBI Master Circulars (2015/2016)
    • Operations and Performance of RRBs
    • Mobilisation and Deployment of Funds
    • Recapitalisation and Amalgamation of RRBs
    • Capital Structure and CRAR of RRBs
    • Inter-Bank Priority Lending Certificates
    • Computerisation, CBS and Technology Upgradation of RRBs
    • Balance Sheet and Financial Performance of RRBs
    • Financial Performance of RRBs
    • Role of RRBs in Financial Inclusion
    • Credit to Agriculture and allied activities

    Local Area Banks (LABS)

    • Local Area Banks Scheme
    • Profile of Local Area Banks (LABs) 
    • Present Situation of Local Area Banks (LABs)

    Co-operative Banks

    • Role of Co-operative Banks in Indian banking system
    • Structure of Co-operative Banks as compared to Commercial Banks

    Progress of Credit Co-operatives

    • Co-operative Banking Sector and financial inclusion
    • Structure of the Co-operative Banking Sector in India
    • Structure of Co-operative Credit Institutions

    Urban Co-operative Banks (UCBS)

    • Profile of Urban Co-operative Banks (UCBs)
    • Grade-wise Distribution of UCBs 
    • Major policy initiatives in the UCBs
    • Vision Document 2005—Structural initiatives by RBI
    • State-level Task Force for Co-operative Urban Banks (TAFCUBs)
    • MoUs with UCBs and TAFCUBs
    • Consolidation, Merger or Amalgamation of UCBs
    • UCBs with Negative Net Worth
    • Innovative Options for Augmenting Capital
    • Regulation and Supervision of UCBs
    • Off-Site Surveillance (OSS) for Supervision of all UCBs

    Rural Co-operative Credit Institutions

    • Structure of Rural Co-operative Credit Institutions
    • Operations and Financial Performance of Rural Cooperatives
    • Short-term Structure of Rural Cooperatives
    • Short Term Co-operative Credit Structure (STCCS)
    • State Co-operative Banks (StCBs)
    • Operations and Performance of StCBs
    • Financial Performance of StCBs
    • Asset Quality and Recovery Performance of StCBs
    • Regional Profile and NPAs of StCBs
    • District Central Co-operative Banks (DCCBs)
    • Operations and Performance of DCCBs
    • Financial Performance of DCCBs
    • Asset Quality, NPAs and Recovery Performance of DCCBs
    • Primary Agricultural Credit Societies (PACS)
    • Profile of Members and Borrowers of PACS
    • Regional Profile of PACS
    • Long-Term Structure of Rural Cooperatives
    • State Co-operative Agriculture and Rural Development Banks (SCARDBs)
    • Financial Performance of SCARDBs
    • Asset Quality and Recovery Performance of SCARDBs
    • Regional Profile of SCARDBs
    • Primary Co-operative Agriculture and Rural Development Banks (PCARDBs) 
    • Financial Performance of PCARDBs
    • NPAs, Asset Quality and Recovery Performance of PCARDBs
    • Over all Profile of Rural Co-operative Banks
    • Profile, NPAs and Recovery of Rural Co-operative Banks
    • Supervision of Rural Co-operative Banks by NABARD
    • Board of Supervision (BoS) for StCBs, DCCBs and RRBs
    • Statutes governing Co-operative Banks
  • Chapter 3

    Financial Institutions In India Price 3.00  |  3 Rewards Points

    The topics covered in this chapter are -

    • Financial Institutions in India
    • Classification of Financial Institutions (FIs)
    • Statutes/ Functions of Financial Institutions (FIs)
    • National Bank for Agriculture and Rural Development (NABARD)
    • National Housing Bank (NHB)
    • Export-Import Bank of India (EXIM Bank)
    • Small Industries Development Bank of India (SIDBI)
    • Industrial Finance Corporation of India (IFCI)
    • Industrial Credit and Investment Corporation of India (ICICI)
    • Industrial Development Bank of India (IDBI)
    • ECGC Limited (Formerly Export credit and Guarantee Corporation)
    • Deposit Insurance and Credit Guarantee Corporation (DICGC)
    • Industrial Investment Bank of India (IIBI)
    • Agricultural Finance Corporation Limited (AFC)
    • Housing and Urban Development Corporation (HUDCO)
    • Housing Development Finance Corporation (HDFC)
    • State Financial Corportions (SFCs)
    • Tourism Finance Corporation of India (IVCF)
    • ICICI Venture
    • India Infrastructure Finance Company Ltd. (HFCL)
    • Infrastructure Development Finance Company (IDFC)
    • Infrastucture Leasing and Financial Services (IL&FS)
    • Discount and Finance House of India (DFHI)
    • Stock Holding Corporation of India (SHCIL)
    • Life Insurance Corporation of India (LIC)
    • General Insurance Corporation of India (GIC)
    • Unit Trust of India (UTI)
    • Credit Information Companies 


  • Chapter 4

    Functions of Commercial Banks Price 3.00  |  3 Rewards Points


    Functions of Commercial Banks

    • Not mere depositories
    • Non-interference in banking transactions

    Miscellaneous Functions and Services

    • Modern banks perform miscellaneous services
    • Subsidiary, Special and Para-Banking Services by Banks
    • Agency Services—Bankers as Agent of Customers
    • Miscellaneous or General Utility Services
    • Functions, Products and Services of Banks in India
  • Chapter 5

    Global Banking Institutions Price 3.00  |  3 Rewards Points


    International Monetary Fund (IMF)

    • IMF, World Bank and GATT
    • International Monetary Fund (IMF) 

    World Bank [IBRD and IDA]

    • The World Bank (WB) [IBRD and IDA]
    • World Bank – Objectives
    • World Bank Group – Five Organisations
    • Loan packages by the World Bank
    • Projects and programmes

    IMF and World Bank

    • IMF and the World Bank
    • Conditionality
    • Borrowing country’s point of view
    • Effect on lobbying

    Global Banking and Financial Crisis

    • Globalisation of economy and banking
    • Global banking and financial crisis in 2007-2009
    • Major sub-prime crisis and US Housing Bubble
    • Global meltdown and economic crisis of 2007-2009
    • Developments in global financial turmoil during 2008
    • Failure of major US Banks and Financial Institutions

    Global Banking and Financial Sector Progress

    • Recovery from the Crisis 2010-2013

    Impact of Global Financial Slowdown in India

    • The Present Picture
  • Chapter 6

    Reserve Bank of India and Its Role Price 3.00  |  3 Rewards Points


    Reserve Bank of India as Central Bank

    • The Reserve Bank of India Act, 1934 (2 of 1934)
    • RBI nationalized in 1949
    • Legal Framework governing RBI, Banks and FIs 

    Functions of the RBI

    • RBI performs all important functions of a Central Bank
    • Main Functions of the Reserve Bank of India (RBI)

    Reserve Bank and its Promotional Role

    • Promoter of Financial Institutions in the country

    Organisation of RBI

    • Central Board of Directors of the RBI [Section 8]
    • The RBI General Regulations, 1949
    • Governor the Chief Executive Authority of RBI

    Board for Financial Supervision (BFS)

    • Board for Financial Supervision (BFS)
    • RBI (BFS) Regulations, 1994
    • Financial Supervision by RBI—Board for Financial Supervision (BFS)

    Reserve Bank of India and Commercial Banks

    • Commercial Banks maintain Accounts with the RBI
    • RBI as Banker to Scheduled Commercial Banks (SCBs)
    • RBI controls the activities of Commercial Banks
    • RBI issues license to Commercial Banks/Branches
    • Power to accord Licenses to Banking Companies
    • Power to Inspect the Commercial Banks
    • Overall Control over Management of Banks
    • Power to Supersede the Board of Directors of Banking Company
    • Power to Control the Volume of Credit
    • Selective Credit Control
    • Loans and Advances—Statutory and other Restrictions
    • Quantitative Control of Credit
    • The Bank Rate
    • Open Market Operations (OMOs)
    • The Reserve Bank of India (Amendment) Act, 2006 (26 of 2006)
    • Reserve Ratios and Policy Rates prescribed by RBI
    • RBI 6th Bi-Monthly Policy Statement 2015-16
    • Money Market, Call Rate, Bank Rate, Repo/Reverse Repo Rate
    • Market Stabilization Scheme (MSS)
    • Variable Reserve Requirements 

    Monetary and Credit Policy

    • Issue of Monetary and Credit Policy for Banking Companies

    Other Powers and Functions of Reserve Bank of India (RBI)

    • Safeguarding the Depositors
    • Definition, deprivation from accepting deposits
    • Power of Reserve Bank to remove managerial persons from office
    • Power of Reserve Bank to appoint Additional Directors
    • Power of RBI to control Advances by Banks [Section 21 of the  Banking Regulation Act]
    • Power to Audit Bank’s books of account
    • Further powers and functions of Reserve Bank
    • Annual Report to the Central Government
    • RBI Report on Trend and Progress of Banking in India 2015-16
    • Power to apply to High Court for winding-up of a Banking Company
    • Applicant not deprived of filing petition for winding-up
    • Reserve Bank to be official liquidator
    • Preferential payments to depositors
    • Priority of Government’s debts
    • Banks exempted from the Insolvency Act
    • Amalgamation of Banking Companies by Reserve Bank
    • Restriction on Compromise or Arrangement between Bank and creditors
    • Compromise or Arrangement Scheme
    • RBI to demand reconstitution or amalgamation of a Banking Company
    • Prohibition on banking by unincorporated entity—Section 45-S valid
    • Power of the Central Board to make Regulations [Section 58]
    • Prosecution under Section 58-E of the RBI Act
    • Deficiency in working—RBI not liable for negligence
    • Right to Information (RTI)

    Cash and Currency Chest Management

    • Issue of Currency Notes [Section 22 of the RBI Act, 1934]
    • Demonetization of currency units
    • Asset Backing for Note Issue [Section 33 of the RBI Act]
    • Distribution of currency by the RBI

    Currency Chests

    • Mechanism and Operations
    • RBI Master Circulars on Issuer of Currency (2015/2016)

    The Payment and Settlement Systems Act, 2007

    • Payment and Settlement Systems
    • The Payment and Settlement Systems Act, 2007 (51 of 2007)
    • Payment and Settlement Systems Regulations, 2008
    • Payment and Settlement Systems Act and Regulations
    • Board for Regulation & Supervision of Payment & Settlement Systems (BPSS)
    • Power of RBI to regulate Payment and Settlement Systems
    • Paper Based Clearing and Settlement
    • Electronic Payment Systems
    • Large Value Electronic Payment System
    • Retail Electronic Payment Systems
    • Mobile Banking—RBI Operative Guidelines for Banks
    • National Payments Corporation of India (NPCI)
    • Minimum Standards/Benchmarks for Retail Payment Systems
    • Committee on Financial Sector Assessment (CFSA)
    • Payment and Settlement Systems-Vision 2018
    • Automated Teller Machines (ATMs)
    • Number of Automated Teller Machines (ATMs)
    • Cash withdrawals from all ATMs free w.e.f. 1st April, 2009
    • Limit on cash withdrawals post demonetization in 2016
    • Off-site ATMs without prior RBI approval

    The Government Securities Act, 2006

    • The Government Securities Act, 2006 (38 of 2006)
    • Government Securities Act, 2006 enforced (w.e.f. 01-12-2007)
    • Developments in the Government Securities Market
    • Separate Trading of Registered Interest and Principal of Securities (STRIPS)

    RBI’s Co-ordination with Financial Sector Regulators

    • Insurance Regulatory and Development Authority (IRDA)
    • Securities and Exchange Board of India (SEBI)
    • Reforming Regulatory Architecture
    • Coordination across Regulators

    RBI’s role in Globalised Banking

    • RBI’s role and responsibilities in globalised banking
    • Governance of Central Banks [BIS Report 2009]
    • BIS Committee on Payment and Settlement Systems

    RBI Master Circulars 2015/2016

    • List of RBI Master Circulars (2015/2016)
    • RBI guidelines for Compromise/Settlement of NPAs of Public Sector Banks
    • Tackling NPAs and Distressed Assets in the Banking Books
    • Strategic Debt Restructuring
  • Chapter 7

    Private Banks and Foreign Banks Price 3.00  |  3 Rewards Points


    Privatization of Banks

    • Recommendations of First and Second Narasimham Committees, Verma Committee and Raghuram Rajan Committee 

    Opening of New Private Banks

    • Licensing of Private Banks [Section 22 of the Banking Regulation Act, 1949]
    • Opening of new Private Banks
    • RBI guidelines on entry of new Private Sector Banks in India in 1993
    • RBI guidelines for Private Banks revised in January 2001
    • RBI Annual Policy Statement 2010-11
    • RBI guidelines on entry of new Banks in the Private Sector further revised in 2013

    Starting of Private Banks

    • Formation or incorporation of Private Banks

    RBI Guidelines on Entry of New Private Sector Banks

    • RBI Guidelines on entry of new banks in the private sector (Revised 2013)

    RBI Guidelines on Presence Foreign Banks in India

    • Roadmap for Foreign Banks in India
    • Scheme for Setting up of Wholly Owned Subsidiaries  (WOS) by foreign  banks in India (2013)

    Branch Licensing Policy

    • Branch Licensing [Section 23 of the Banking Regulation Act, 1949]
    • RBI Master Circular on Branch Authorisation
    • Foreign Bank Branches in India
    • Foreign Branches of Indian Banks

    Relevant Regulations for Private Banks

    • Minimum paid-up capital and reserve [Section 11 of the  Banking Regulation Act, 1949]
    • Dividend [Section 15 of the Banking Regulation Act, 1949]

    Cash Reserves and Liquid Assets

    • Cash Reserve Ratio CRR [Section 42 of the RBI Act  or Section 18 of the Banking Regulation Act]
    • RBI Master Circulars on CRR and SLR (July 2015)
    • Assets in India by Foreign Banks [Section 25 of the Banking  Regulation Act, 1949]

    Constitution of Bank’s Board of Directors

    • Constitution of Board of Directors [Section 10A of the Banking  Regulation Act, 1949]
    • Whole-time Chairman to manage the Banking Company  [Section 10B of the Banking Regulation Act, 1949]
    • Approval of the Reserve Bank of India [Section 35-B of the  Banking Regulation Act, 1949]
    • Powers of RBI to control the management [Sections  36AA and 36AB of the Banking Regulation Act, 1949]
    • Foreign Banks—Local Advisory Board
    • RBI’s Monetary and Credit Policy

    Accounts, Audit and Inspection

    • Balance sheet and Profit and loss account in Vertical Forms
    • Audit of private sector banks [Section 30(1A) of the Banking  Regulation Act, 1949]

    Winding up and Amalgamation of Banks

    • Voluntary Amalgamation of Banks [Section 44A of the Banking  Regulation Act, 1949]
    • Compulsory Reconstruction or Amalgamation  [Section 45 of the Banking Regulation Act, 1949]
    • Supervision of Banks in Liquidation
    • Regulation of Private Banks and Foreign Banks
  • Chapter 8

    Reserve Ration CRR and Statutory Liquidity Ratio SLR in Banks Price 3.00  |  3 Rewards Points


    Statutory Reserve Requirements

    • Statutory Reserve Requirements for Banks 
    • Scheduled, Non-Scheduled and Co-operative Banks
    • CRR and SLR requirements for Scheduled Banks
    • Variable Reserve Requirements

    Cash Reserve Ratio (CRR) for Banking Company

    • Cash Reserve to be maintained by Banking Company  [Section 18 of the BR Act]
    • Banking Company not being a Scheduled Bank

    Cash Reserve Ratio (CRR) for Scheduled Banks

    • Cash Reserve by Scheduled Bank [Section 42(1) of the RBI Act, 1934]
    • Scheduled Bank [Section 2(e) and Schedule II of the RBI Act]
    • The Reserve Bank of India (Amendment) Act, 2006 (26 of 2006)
    • Maintenance of Cash Reserve (CRR) by Scheduled Bank
    • Amendments to the RBI Act and Cash Reserve Ratio (CRR)
    • Provisions Relating to CRR [RBI Master Circular, dated 01-07-2015]
    • Cash Reserve Ratio (CRR) prescribed by the RBI 
    • Reserve Ratios prescribed by the RBI (As on 31-03-2016)
    • Cash Reserve Ratio (CRR) was unchanged in the Sixth  Bi-monthly Monetary Policy
    • CRR prescribed by RBI for Scheduled Banks (w.e.f. 09-02-2016)
    • RBI Master Circulars on CRR and SLR (2015/2016)

    Statutory Liquidity Ratio (SLR)

    • Maintenance of a percentage of liquid assets [Section 24 of the BR Act]
    • Submission of Monthly Return to ensure compliance –  Fortnightly Return in Form A (CRR)
    • RRBs to furnish copy of Return to NABARD
    • Liquidity Coverage Ratio (LCR) – Basel III Framework  on Liquidity Standards
    • Net Stable Funding Ratio (NSFR) for Banks
    • The Banking Regulation (Amendment) Act, 2007 (17 of 2007)
    • Statutory Liquidity Ratio (SLR) prescribed by RBI (As on January 2017)
    • Statutory Liquidity Ratio (SLR) reduced from 21.5% to 21.25%  (w.e.f. 02-04-2016)
    • Notification under Section 24 of the Banking Regulation Act, 1949

    RBI Master Circulars on CRR and SLR

    • RBI Master Circular on CRR/SLR for SCBs (2015/16)
    • RBI Master Circular on CRR and SLR for UCBs/PCBs (2015-2016) 
  • Chapter 9

    Directors and Managers of Banks Price 3.00  |  3 Rewards Points


    Constitution of Bank’s Board of Directors

    • Constitution of Board of Directors of Banks  [Section 10A of the Banking Regulation Act, 1949]
    • Whole-time Chairman to manage the Banking Company  [Section 10B of the Banking Regulation Act, 1949]
    • Approval of the Reserve Bank of India [Section 35B of the Banking  Regulation Act, 1949]
    • Board of Directors of State Bank of India (SBI)
    • Board of Directors of Nationalised Banks
    • Powers of RBI to control the management

    Corporate Governance in Banks

    • Corporate Governance in Banks
    • Basel Committee on Banking Supervision
    • ‘Fit and Proper’ criteria for Elected Directors
    • Ganguly Committee on Corporate Governance – Recommendations  implemented by Banks
    • Dr. P.J. Nayak Committee Report to Review Governance of Boards  of Banks in India
    • Clause 49 of the SEBI Listing Agreement
    • The Banking Regulation Act, 1949 
    • Public Sector Banks (PSBs)
    • Directors of Private Banks and Corporate Governance

    Directors by Banks on Boards of a Company

    • Directors appointed by Banks on Boards of a Company

    Term of Office of Directors

    • Uniform provisions for term of office of directors
    • Retired directors not necessary party

    Legal Position of Directors

    • Directors mere trustees or agents of a company
    • Directors of Nationalised Banks
    • Directors under the Companies Act, 2013
    • Directors of Banks [Banking Regulation Act, 1949]
    • Discretion of directors

    Directors’ Criminal and Vicarious Liability

    • Directors of Banking Companies
    • Vicarious liability of Directors
    • Vicarious liability of managing director and directors
    • Dishonour of Cheques—Liability of Directors

    Directors’ Civil Liability

    • Civil liability of Directors of Banks
    • Liability to those dealing with bank
    • Liability to shareholders and creditors
    • Liability of directors to Bank
    • Liability for secret profits
    • Liability for misappropriation and misapplication
    • Misfeasance or breach of trust
    • Misfeasance—Delinquent Directors or Officers
    • Liability for loss due to gross negligence
    • Indemnity clause void
    • Liabilities of directors under Companies Act
    • Managing director not liable for company’s debts

    General Manager

    • “Manager” or “General Manager”
    • “Manager” or “Principal Officer”
    • Previous approval of the Reserve Bank [Section 35B of the  Banking Regulation Act, 1949]
    • Rights and liabilities of a General Manager
    • Scope of authority of a Manager 
  • Chapter 10

    Accounts and Balance Sheet of Banks Price 3.00  |  3 Rewards Points


    Disclosures in Accounts and Balance Sheet

    • Section 29 of the Banking Regulation Act, 1949 (10 of 1949)
    • Vertical Forms of Accounts set out in Third Schedule
    • “Notes on Accounts” to Balance Sheet

    Forms of Accounts set out in Third Schedule

    • Banking Regulation Act, 1949 – Notifications under Section 29(4)

    Disclosures in Notes to Accounts

    • RBI Master Circulars (2015/2016)
    • Master Circular on Disclosure in Financial Statements— Notes to Accounts

    Capital Adequacy (CRAR) Norms for Banks

    • Prudential Norms on Capital Adequacy (CRAR)
    • Basel III, II and I Framework and CRAR
    • RBI Master Circulars 2015/2016

    Income Recognition and Asset Classification

    • Prudential Norms on Income Recognition and Asset Classification
    • Prudential guidelines on Provisioning 

    Accounting Standards

    • Accounting Standards of ICAI/Rules
    • Companies (Accounting Standards) Rules, 2006
    • Harmonisation of ASs—ICAI Announcement, dated 29-01-2008
    • Applicability of Accounting Standards (AS) to Banks

    Accounting and Auditing Practices

    • ICAI Guidance Note on Audit of Banks (Revised 2016)

    Statutory Audit and Inspection of Accounts

    • Statutory Audit of Annual Accounts
    • ICAI Guidance Note on Audit of Banks

    Bank Accounting

    • Objects of keeping proper accounts by Banks
    • Cost accounting
    • Most essential requirement of sound bank business
    • General principles of book-keeping applicable to banks

    Bank Books and Records

    • Bank records
    • Corporate records
    • Financial records
    • The Banking Companies (Period of Preservation of Records) Rules, 1985
    • Books, Accounts and Documents to be preserved for 5 years [Rule 2]
    • Books, Accounts and Documents to be preserved for 8 years [Rule 3]
    • Reserve Bank (RBI) may direct for longer period [Rule 4]
    • Bank telegraphic codes
    • Statistical records
    • Their advantages
    • Basic Statistical Return (BSR)

    Mechanisation and Computerisation

    • Mechanisation and Computerisation of Bank Accounts

    Accounting and Auditing Practices

    • ICAI Guidance Note on Audit of Banks (Revised 2016)

    Information Technology in Banking Industry

    • Information Technology (IT) and Computerisation
    • E-banking
    • E-security measures
    • The Information Technology Act, 2000 (21 of 2000)

    Legal Framework for Electronic Transactions

    • The Information Technology Act, 2000
    • Technology for digital signatures
    • To sign a document or any other item of information
    • Digital Signature Certificates (DSCs)
    • Electronic Signature (e-Signature)
    • Intranet
    • Types of online services of leading banks
    • Corporate Internet Banking (CIB)
    • Online Banking features and its benefits
    • Customers can also submit the following requests on-line
    • Advantages of corporate internet banking
    • Security features embedded in the software
    • Benefits to customers
    • Integration of system with ERP
    • Payment of bills through Electronic Funds Transfer (EFT)
    • Electronic shopping mall

    Virtual Banking

    • Virtual Banking in India
    • “Payment in due course” by ATMs
    • Mobile Banking

    Universal Banking by Banks and FIs

    • Era of globalisation, liberalisation and reforms in financial sector
    • Role of Development Financial Institutions (DFIs) and Banks 
  • Chapter 11

    Bank Audit and Inspection Price 3.00  |  3 Rewards Points


    Bank Audit

    • Types of Bank Audits

    Statutory Audit of Banks

    • Section 30 of the Banking Regulation Act, 1949
    • Statutory Audit of Annual Accounts
    • Statutory Auditors of Public Sector Banks (PSBs) for 2015-16 and  2016-17 onwards
    • Communication with the Previous Auditor
    • Professional Misconduct by CAs (w.e.f. 17-11-2006)
    • Statutory Auditor not to be Internal Auditor of UCBs

    Audit of a Branch of Bank

    • Audit of Bank Branches and Report of Branch Auditors

    Audit of Head Office of Bank

    • Audit of Head Office of Banks by Auditors/Co-Auditors

    Accounting and Auditing Practices

    • Statutory Audit of Public Sector Banks (PSBs)
    • ICAI Guidance Note on Audit of Banks (Revised 2016)

    Long form Audit Report (LFAR)

    • The Long Form Audit Report (LFAR)
    • ICAI Guidance Note on Audit of Banks (Revised 2016) [Part IV]

    Bank Branch Audit Program

    • Planning the audit to obtain reasonable assurance 
    • Bank Branch Audit Program 

    Concurrent Audit

    • Concurrent Audit
    • Objects of concurrent audit
    • Persons who conduct concurrent audit
    • Directions of Reserve Bank regarding concurrent audit of banks
    • Areas to be covered by concurrent audit
    • Report by Concurrent Auditors

    Computer Audit

    • Use of Computers in banking sector
    • Audit of total Computerised Branch
    • ATM operation
    • Tele banking

    Accounting and Auditing Practices

    • Computerised Accounting and Core Banking Solutions (CBS)
    • Automation and Computerisation of Bank Accounts
    • ICAI Guidance Note on Audit of Banks (Revised 2016)

    Internal Audit or Inspection

    • System of internal audit or inspection
    • Surprise inspections of the branches
    • Department of Banking Supervision (DBS) of RBI
    • Jilani Committee Recommendations
    • Audit and Inspection of Borrowers

    Revenue Audit

    • Revenue audit of bank branches
    • Revenue Auditor checks following items

    Audit Committee of the Board

    • Constitution of Audit Committee of the Board
    • Audit Committee to oversee audit function of the bank
    • Audit Committee to follow up Audit Reports 
  • Chapter 12

    Banker and Customer Price 3.00  |  3 Rewards Points


    In-depth Understanding of the Term “Banker”

    • No Satisfactory Definition
    • Introductory—Meaning of term “Banker”

    What Constitutes a Customer

    • Definition
    • Habit forms custom
    • Single transaction may constitute a customer
    • Frequency anticipated
    • Dealing to be of a banking nature
    • Position regarding deposit account
    • ‘Customer’ under Section 131 of the Negotiable Instruments Act, 1881 

    General Relation of Banker with Customer

    • Nature of relationship
    • Banker not a mere depository or trustee
    • Nature of money lying with bank in customer’s account
    • Duty of bank to maintain secrecy
    • When does legal relationship begin?

    Relation of Debtor and Creditor

    • Relation of banker and customer primarily of debtor and creditor
    • Customer (the creditor) to make a demand on Banker (the debtor)
    • Debt does not have location—Situs of a debt
    • What can bank do with deposit?

    Banker as Agent of Customer

    • Agency relation between customer and banker
    • When money received with special instructions
    • Refusal to providing services by bank to its customer not proper
    • Limitation under the Limitation Act, 1963

    Banker as a Trustee

    • Relationship of Banker as a Trustee
    • Bank appointed as a Receiver
    • Money for a specific purpose
    • Money paid to bank with special instructions
    • Decree or order—Limitation
    • Repeal of Portuguese Civil Code
    • Trusteeship arises only in course of business
    • Vicarious responsibility of Bank as a Trustee
    • Security deposit is trust money
    • When is a banker a constructive trustee?
    • Beneficial Interest in security deposit not transferred to the banker
    • When is a banker a debtor and not a trustee?
    • Trustee in cases of safe custody deposits

    Banker as Bailee

    • Banker as bailee in safe custody facility
    • Bailor-Bailee relationship

    Banker – a Privileged Debtor

    • Banker as privileged debtor
    • Effect of Foley v. Hill

    Relationship in other Services

    • Nature of relationship in other services
    • Disposition of property in favour of bank

    Liability of Bank for Embezzlement

    • Liability of the bank for embezzlement committed by employee

    Banker’s Right to Combine Accounts

    • Banker’s right to combine separate accounts of a customer
    • Customer’s consent or Notice to him
    • Letter of set-off—A Safeguard
    • No right to combine customer’s personal account with joint account 
    • Not Applicable to Contingent or future Debts
    • No right of the customer to combine accounts
    • Unauthorised transfer of huge amount by nationalised bank
    • Banker’s lien and several accounts
    • Show cause notice before seizing of bank account

    Special Features of Relationship

    • Special features of relationship between banker and customers
    • Statutory obligation on banks in India

    Bank’s Obligation to Honour Cheques

    • Obligation to honour Cheques having sufficient funds
    • Extension of statutory obligation
    • Overdraft arrangement is a contract
    • Overdraft is a loan, repayable with interest
    • Presentation of cheque within reasonable time—Stale Cheque
    • Bankers to have reasonable time for crediting funds
    • Effects not cleared
    • Consequences of a wrongful dishonour
    • Wrongful dishonour—Customer a Trader or businessman
    • No substantial damages to a non-Trader
    • Regret Letter to payees does not take away liability for damages
    • Assessing of damages—Dishonour of cheque of small amount
    • Remedy for a cheque wrongfully dishonoured
    • Claim for general damages
    • Liability to return the dishonoured cheque to customer

    Duty of Banker to Act as per Directions

    • Duty of banker to act according to directions
    • Payment of domiciled bills
    • Question of negligence
    • Banking business, banking practice and cheating
    • Bank officer in position of trust—Breach of trust for violating norms

    Banker’s Duty as Bailee of Articles

    • Bank as paid bailee of articles
    • Duty to take care as person of ordinary prudence

    Secrecy of Customer’s Account

    • Secrecy of the customer’s account
    • Reasonable and proper occasions for disclosure
    • Limitations on banker’s obligation as regards secrecy 
    • When disclosure is justified
    • Banker’s obligation to disclose under certain Statutes
    • Bank’s duty of secrecy—Exceptions
    • Defence of fidelity and secrecy not available in case public fund is involved
    • Common courtesy
    • Disclosure of only bare facts
    • Markings for returning dishonoured cheques

    Incidental Charges

    • Unremunerative accounts—Incidental charges

    Law of Limitation and Deposits

    • Period of limitation begins from demand on Deposits
    • A curious case on the Law of Limitation
    • Fixed Deposits—Law of Limitation
    • Valuables left for safe custody
    • Overdrafts—Period of limitation
    • Overdraft-Liquidity Account
    • Stay of recovery on overdraft pending appeal
    • Current account—Mutual, open and current account
    • Current and running accounts
    • Rule in Clayton’s case
    • Payment by cheque—Limitation 
    • Irregularity in bank account, limitation
    • Bonds with maturity date and limitation 
  • Chapter 13

    Banker and Borrower Relationship Price 3.00  |  3 Rewards Points


    Banker-Borrower—Some Legal Aspects

    • Printed form of contract or documents 
    • Alterations in Documents 
    • Pledge and mortgage
    • Pledgee’s liability
    • Unauthorised dealing with property custodia legis
    • Guarantee Deed
    • Surety and security
    • Position of Guarantor or Surety in Banker’s Advances 
    • Bank Guarantees and Letters of Credit
    • Principles for injunction to restrain bank guarantee or letter of credit
    • Promissory Note jointly executed
    • Power of Attorney
    • Promise to lend money—Promissory Estoppel
    • Interest chargeable by Bank
    • Appropriation of payments
    • Insurance money
    • Insurance claim on animals financed by bank
    • Mistaken Credit
    • Jurisdiction of DRT for recovery of money paid under mistake
    • Money Credited by Mistake Constitutes Debt
    • Recovery of Debts Due to Banks and Financial Institutions Act,  1993 (51 of 1993)
    • Settlement with borrower
    • Punishment for contumacious conduct
    • Amount of settlement
    • One-time Settlement (OTS) under RBI Guidelines
    • Undue influence—Banking transactions
    • Writ petition against bank—maintainability
    • Extension of loan not to be directed
    • Writ Jurisdiction
    • Non-interference in business practice
    • Courts not to monitor day-to-day working of banks
    • Writ does not lie where only one conclusion possible
    • Writ maintainable in dispute relating to statutory obligation
    • Alternative remedy—No writ
  • Chapter 14

    Bankers as Borrowers Deposits and Opening of Customers Accounts Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are as follows - 

    • Forms of Borrowing
    • Participation Certificates (PCs)
    • Bank Deposits 
    • Fixed Deposits 
    • Deposits where Repayable 
    • Attachment of Deposits by Courts 
    • Deposits in Joint Names 
    • Deposit Insurance Corporation 
    • Deposit Rates in India 
    • Savings Deposits 
    • Current Deposits 
    • Recurring Deposits 
    • Opening of a New Account 
    • Statement of Account or Pass-Book
    • Special Types of Customers 
    • Customer's Attorney 
    • Recent RBI Circulars/Guidelines (2015-16/2016-17)
  • Chapter 15

    Customer Service in Banks Price 3.00  |  3 Rewards Points


    RBI Instructions on Customer Service in Banks

    • RBI Master Circular on Customer Service in Banks (2015/2016)
    • Customer Service for Co-operative Banks—UCBs

    Redressal of Customers Grievances

    • The Banking Ombudsman Scheme, 2006
    • Alternative Remedies
    • The Consumer Protection Act, 1986 (68 of 1986)
    • Remedy before Consumer Forums

    Writ and other Remedies

    • Writ Jurisdiction
    • Courts not to monitor day-to-day working of banks
    • Writ maintainable in dispute relating to statutory obligation
    • Extension of loan not to be directed
    • Right to Information
    • Recovery of Debts Due to Banks and SARFAESI Act
    • Alternative remedy—No writ 
  • Chapter 16

    Collecting Banker and Customers Account Price 3.00  |  3 Rewards Points


    Banker as Collector of Cheques

    • Position of banker as collector of cheques
    • Collection of cheques and bills
    • Banker as holder for value
    • Rights as holder for value
    • Position of collecting banker as an Agent
    • Statutory protection [Section 131 of the NI Act, 1881]
    • Protection for crossed cheques only
    • Collection on behalf of customers
    • Bills of Exchange Amendment Act, 1906
    • Negotiable Instruments (Amendment) Act, 1922
    • Receives payment “in good faith and without negligence”
    • Protection of banker in collecting a cheque
    • Grounds for seeking protection
    • Drawer of cheque

    General Duty of Collecting Banker

    • Duty in collection of cheque
    • Collection not to extend to a stranger
    • Bank can be collecting agent
    • Collecting banker’s duty of care
    • Material alterations in Demand draft, liability of collecting banker
    • Liability for negligence in collection of cheque [Section 131 of the NI Act]
    • Drawee himself as Collecting Banker

    Basis of Negligence

    • Opening of current account without satisfactory references 
    • Duty to follow Manual of Instructions
    • Liability of collecting bank, negligence in opening account [Section 131  of the NI Act, 1881]
    • Doctrine of negligence—Shifting in its implication

    Doctrine of Conversion

    • Definition of conversion
    • Conversion applies to tangible property and not to debts
    • Conversion of negotiable instruments
    • Basis for assessment of damages
    • When conversion Lies
    • Bankers and conversion
    • Moneys had and received
    • Extent of care required 

    Collecting Banker and His Customer

    • Due care and diligence in collection of cheques
    • Notice of dishonour of cheque
    • Position in case collecting and paying bank is same
    • Onus or burden of proving good faith on collecting bank
    • Collecting bank not holder in due course

    Collection of Customer’s Bills

    • No legal obligation to collect bills
    • Matter of jurisdiction [Section 20 of the Civil Procedure Code]

    Precautions in Collecting Bills

    • No statutory protection
    • No liability where bank acts only as agent
    • Presentment of bills for acceptance
    • Presentment for acceptance when excused
    • Presentment of bills for payment
    • Presentment not necessary to charge maker or acceptor
    • When and where should presentment be made?
    • Rules for fixing the dates of payment of bills

    Obligation of Collecting Bank to Present

    • Obligation to present negotiable instruments
    • Time for presentment
    • Diligence in presentment
    • Time for presentment
    • Rules as to presentment
    • What is reasonable time?
    • What is reasonable hour?
    • Bill payable at a bank
    • Jurisdiction—Cause of action in case of bill
    • Presentment through the clearing house
    • Excuses available to holder
    • Position of acceptor
    • Bills delivered under discounting [Section 77 of the NI Act]
    • Liability of acceptor
    • Life of promissory note
    • Position under Indian Law
    • Noting and protesting on dishonour of bills
    • Notice of dishonour of bill
    • Waiver of notice of dishonour of bills

    Collecting Bank as Holder for Value

    • Bank as holder for value

    Bills of exchange to be stamped

    • Bills of exchange to be properly stamped

    Bank Pass-Book

    • Contents of passbook
    • Statements of accounts
    • Passbook to constitute an authentic record
    • No such duty in India
    • Effect of entries in passbook
    • Entries favourable to customer
    • Customer not to rely upon a fictitious entry in passbook
    • False entries in pass-book, amount embezzled by bank employee
    • Entries favourable to banker
    • Customer’s responsibility
    • Possible legal recognition
    • Mere debit entry not conclusive evidence of payment
    • Balance Confirmation slips
    • Banker cannot compel his customer to sign the slip
    • Passbook—legal value
    • Legal effect of entries in passbooks
    • Forged cheques
    • The Bankers’ Books Evidence Act, 1891 (18 of 1891)

    Closing an Account

    • Determining factors

    Right to Credit Balance on Customer’s Death

    • Nomination
    • Duly appointed legal representative
    • To demand production of probate or letters of administration
    • No succession certificate needed
    • Set-off—Mutual debts of same parties, under the same right 
  • Chapter 17

    Appropriation of Payments and Rule in Claytons Case Price 3.00  |  3 Rewards Points


    Appropriation of Payments

    • The Indian Contract Act, 1872 (9 of 1872)

    Rule in Clayton’s Case

    • Rule of law underlying Appropriation of Payments
    • Rule in Clayton’s case [Devaynes versus Noble]
    • Appropriation of payments according to debtor’s intimation

    Execution of Clayton’s Rule

    • Applicability in India
    • Appropriation first  towards interest
    • Appropriation of payment where debtor does not do so
    • Appropriation prima facie
    • Intention of customer to appropriate payments
    • Creditor’s right of appropriation—Two contentions
    • Protective rule to follow
    • Clayton’s case rule and floating charges
    • Implied loan to customer
    • Where there are two accounts
    • Where two entity accounts are mixed: trust monies
    • Contracting out of the Clayton’s Rule 
  • Chapter 18

    Bankers Lien and Set-Off Price 3.00  |  3 Rewards Points


    Banker’s Right of Lien

    • Banker’s right of general lien [Section 171 of the Contract Act, 1872]
    • Banker’s general lien subject to contract to the contrary
    • Banker’s right to combine or set-off accounts
    • Banker’s general lien when applicable
    • Law of Limitation in General Lien
    • Lien on related parties property
    • Lien on Security of third party
    • Banker’s lien for specific purpose
    • Specific lien on pledged goods

    Banker’s Right of Set-off

    • Spargo’s case
    • Set-off must be in the form of a cross-claim
    • Mutual demands between same parties in the same right
    • When set-off right not available
    • Supreme Court’s view on disputed claims
    • Banker’s right of set-off
    • Banker’s right of transferring balance or setting-off
    • Demand to be made before setting-off
    • Mutual dealings between customer and banker
    • Set-off in case of joint account
    • Set-off in case of time-barred claim
    • Set-off without reference to existence of security
    • Mutuality of claim and right 
    • Indian position
    • Set-off and counter-claim distinguished
    • Plea of set off to be specifically raised in written statement
    • Court fee payable on Set-off in the garb of counter-claim
    • Proof of claim of set-off
    • Recovery of loan, court-fee on counter-claim

    Money Paid by Mistake

    • Banker’s right to recover money paid by mistake
    • Money paid into customer’s account by mistake 
    • Liability to refund with interest
    • Payment or honouring of cheques by mistake from wrong account
    • When money received mala fide
    • Mistake to be of fact and between parties only
    • “Accidental windfall”—Unjust enrichment
    • When recovery is made impossible
    • No prior parties—Notice of mistake
    • Delay in giving notice of mistake
    • Forged and other non-negotiable instruments
    • Is recipient of money the principal or agent?
    • Lien or set-off on money received by mistake
  • Chapter 19

    Interference by Third Parties - Injunctions Garnishee or Attachment Orders and Decrees Price 3.00  |  3 Rewards Points


    Garnishee or Attachment Orders

    • Garnishee orders attaching money in banker’s hands

    Bankers and Garnishee Orders

    • Bankers as depositees most usual recipients of garnishee orders
    • Garnishee order nisi
    • Passing Garnishee Order Absolute
    • Extent of reach of the order
    • Where order cannot reach
    • Effect of bankruptcy or winding-up
    • Garnishee order effective as demand and revocation
    • Where balance is in joint account
    • When name of the Judgment-Debtor (JD) differs
    • Banker’s liability for dishonour of cheques
    • Liability necessary to make garnishee
    • Scope of recovery against garnishee [Rule 46 and 46A, Order 21 of the C.P.C.]
    • Quashing of garnishee notice
    • DRT power to require garnishee to make payment by interim order
    • Distribution of garnishee amount, more equitable than legal

    Attachment, Garnishee Order and Decrees

    • Debt due or accruing due
    • Attachment of property under the Banking Regulation Act, 1949
    • Default in payment under compromise
    • Delay in payment of final compromise instalment
    • Compromise, effect of RBI Guidelines
    • Execution of compromise decree
    • Final Decree
    • Execution petition should be in proper form
    • Repayment in instalments, bank’s discretion to claim whole amount
    • Creditor can proceed against guarantor alone
    • Guarantor’s liability co-extensive with principal debtor
    • Co-extensive liability and banker’s lien
    • Execution of decree against principal debtor and surety
    • Execution against guarantor
    • Commencement of surety’s liability
    • Proceeding against surety’s property after exhausting security
    • Delay in filing execution application—Negligence of bank employees

    Interim or Interlocutory Orders

    • Jurisdiction of DRT to pass interim orders
    • Reasons to be recorded for ex parte injunctions
    • Interim orders of DRT—Appeal no writ

    Insolvency of Customer

    • Where depositor becomes insolvent
    • Insolvency notice [Section 9A of the Presidency Towns Insolvency Act, 1920]
    • What acts constitute insolvency?
    • Termination of customer’s authority to bank
    • Notice of insolvency or winding up

    Bankers and Appointment of Receiver

    • Appointment of Receiver
    • Appointment of Receiver in mortgage suits
    • Guiding principles for appointment of Receiver
    • Appointment of Receiver
    • Court Receiver, who is fit to be appointed
    • Equitable mortgage, bank entitled to mortgage decree

    Foreign Decree

    • Execution of foreign decree
    • Decree against a non-resident (NRI)
    • Decree of a foreign country

    Mareva Injunctions

    • Mareva injunctions first case to rewrite banker’s obligations
    • A right in remor in personem?
    • Court’s discretion widened—Transfer of assets out of jurisdiction
    • Injunction on properties outside
    • Injunction before trial
    • Banks and Babanaft’s provison
    • Effect of Mareva Injunction on banks—Freeze account
    • Mareva Injunction and joint accounts
    • Mareva Injunction on third parties
    • Mareva injunction and Indian position
    • Mareva injunction and garnishee order
  • Chapter 20

    Employment of Funds and Advances Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are as follows - 

    • Employment of Funds by Banks 
    • Cash Reserves 
    • Factors Governing Cash Reserves
    • Minimum Reserve Required by Law 
    • Profitable Uses of Funds
    • Call Loans and Notice Money
    • Investments in Government Securities 
    • Loans and Advances by Banks 
    • General Principles for Advances
    • Advances by Indian Banks
    • Cash Credits, Overdrafts and Loans
    •  Secured and Unsecured Loans 
    • Concept of Bank Lending 
    • Examination of Accounts and Financial Analysis 
    • Financial Statements and Lending Banker 
    • Ratio Analysis 
    • Financial Analysis - General Considerations 
    • Funds Flow Analysis 
    • Analysis of Balance Sheet of Borrowers 
    • Assets 
    • Liabilities 
    • Working Capital Finance 
    • Term Loans 
    • Term Loan vis-a-vis Working Capital Finance 
    • Loans Without Collateral Securities 
    • Precautions in Discounting Bills 
    • RBI Bill Market Scheme 
    • Selective Credit Control in India 
    • RBI Master Circulars on Advances 
    • Recall or Recovery of Advances
  • Chapter 21

    Recall or Recovery of Advances Suit for Recovery and Law of Limitation Price 3.00  |  3 Rewards Points


    Recall or Recovery of Advances

    • Occasions on which banker may recall the advance
    • Procedure to be followed by banker to recall advances

    Recovery of Debts Due to Banks

    • Recovery of Debts Due to Banks and FIs Act, 1993

    Summary Suit or Civil Suit

    • Bar of jurisdiction of Civil Court
    • Summary Suit
    • Recovery against guarantor
    • Non-recovery suits before Civil Court maintainable
    • No power in High Court to fix instalments
    • Banker may agree to compound with the borrower
    • Loan to minor—Birth certificate
    • Recovery of tax
    • Attachment and sale of property for realization of tax

    Law of Limitation and Advances

    • Demand on debtor for repayment necessary or not

    Limitation Period for Recovery of Debts

    • Limitation for suit or application for recovery of debts
    • Mutual, Current and Open Account
    • Demand loan
    • Limitation, exclusion of holidays
    • Computation of limitation
    • Last repayment of loan amount, starting point
    • Miscalculation of limitation
    • Date of filing suit important

    Acknowledgement of Debt 

    • Fresh period of limitation on acknowledgement of debt
    • No particular form or acknowledgement
    • Acknowledgement in writing and signed
    • Acknowledgement under debtor’s signature or handwriting
    • Acknowledgement need not contain a promise to pay
    • Acknowledgement when there exist a debt or obligation
    • Acknowledgement within period of limitation
    • Acknowledgement before expiry of limitation
    • Authority to acknowledge
    • Acknowledgement through authorised agent
    • Statement of Account as acknowledgement
    • Statement of account, non-furnishing of
    • Statement of Account to be filed
    • Balance confirmation letters—Letter of revival
    • Acknowledgement by co-debtor
    • Payment by cheque acknowledgement
    • Post-dated cheque and acknowledgement
    • Filing within 3 years from date of acknowledgement
    • Acknowledgement of the principal debtor
    • Part Payment as acknowledgement
    • Balance-sheet as acknowledgement
    • Recovery directed on basis of balance-sheet

    Position of Guarantor or Surety

    • Acknowledgement by borrower—Position of guarantor or surety
    • Position of Guarantor or Surety in Banker’s Advances 
  • Chapter 22

    Payment of Principal and Interest Price 3.00  |  3 Rewards Points


    Meaning and Concept of Interest

    • Interest—Definition and Meaning 
    • Concept of ‘interest’ explained by the Supreme Court
    • Interest Legislation—the Interest Act, 1978 (14 of1978)
    • Deregulation of interest rates in banks

    Interest on Advances

    • Power of RBI to Control Advances and Interest [Section 21 of the BR Act, 1949]
    • RBI circulars and guidelines on Interest binding
    • RBI Master Direction (March 2016)
    • Base Rate of Interest instead of BPLR (from 1st July, 2010)
    • Advances—Agreed rate of interest [Section 21A of the BR Act, 1949]
    • Interpretation of the Indian judiciary on the power of RBI to issue guidelines  or directions
    • Courts have no power to scale down interest
    • Charging of Compound Interest
    • Interest on agricultural loans compounded on annual rests
    • Agricultural Loans yearly rest
    • Loan not proved to be agricultural
    • Refinancing of agricultural loan
    • Banks governed by RBI Guidelines for charging interest on loans
    • Interest on demand loan as prescribed by RBI
    • Section 21A of the BR Act to override CPC on agreed or contract rate

    InterestPendente Lite under C.P.C.

    • Section 21A of the BR Act not to override C.P.C. for pendent lite interest
    • Pendente lite interest by Court as per C.P.C.
    • DRT/DRAT, no distinction in pendent lite and post-litigation interest
    • Section 34 of the Civil Procedure Code, 1908 (5 of 1908)
    • Interest on principal sum adjudged
    • Accumulated interest added to principal
    • Interest on adjudicated amount not principal amount
    • Power of Court to fix pendent lite interest from date of suit
    • Discretion of court in commercial transactions
    • Credit facility commercial transaction, RBI rate of interest
    • Housing loan—Contractual rate of interest
    • Departure from contractual rate only in exceptional cases
    • Grant of low interest
    • Appeal against rate of interest
    • Future interest at contractual rate
    • Higher interest than agreed not allowed
    • Changing rate of interest from time-to-time
    • Waiver of interest in case of riot victims
    • Enhancement of rate of interest
    • Enhancement of interest without notice
    • Alteration of rate of interest
    • One Time Settlement (OTS)—No pendent lite Interest
    • Default in disbursement of loan, reduction of interest
    • Interest on compromise decree
    • Executing court cannot go behind decree and change rate of interest
    • Mortgage Suits [Order 34, Rule 11 of the CPC]
    • Refund of excess payment
    • DRT’s power to reduce interest
    • Compound interest chargeable
    • No agreement as to interest

    Penal Interest

    • Charging of penal interest
    • Penal interest in deed of undertaking/guarantee
    • Charge of interest to Credit Card account holder
    • Refund of excess interest charged by bank on Credit Card

    NI Act—To whom should Debtor Pay?

    • Section 78 of the Negotiable Instruments Act, 1881 
    • Payment of amount due on pronote
    • When payment is made to one who is not holder
    • Can suit be maintainable at instance of real owner?
    • When bank pays cheque amount to non-payee
    • Determining rate of Interest [Section 79 of the NI Act]
    • Section 79 of NI Act not absolute
    • When amount of interest is stated “nil”
    • Interest when no rate is specified [Section 80 of the NI Act]
    • Interest at 18% after the Amendment of 1988
    • Award of interest prior to institution of suit
    • Where interest is omitted to be mentioned
    • Interest column in pronote left blank
    • When no rate of interest is stated on Pronote
    • Interest rate specified on pronote
    • Grant of interest on pronote
    • Justified grant of interest
    • Interest where bank victimised by fraud
    • Discharge from interest liability
    • Exclusion of unexplained delay by bank in seeking execution
    • Statutory rate of interest prevails over contract rate
    • Interest by Commercial transactions
    • Absence of specific pleading as to principal and interest
    • Interest, setting aside ex parte order
    • Interest, when not to be charged
    • Interest specified in mortgage deed
    • Auction purchaser cannot challenge rate of interest
    • Decree can be made to conform with law in matter of interest
    • Repayment holiday
    • Recovery suit, recalculation of interest (Section 96 of the  CPC)
    • No rescheduling or repayment by instalments in writ
    • Award of interest due to delay in releasing loan
    • Interest under the Banking Regulation Act, 1949


    • Interest and the Interest Act, 1978 (14 of1978)
    • Future interest at 19.5% with quarterly rests unreasonable
    • Compound interest only if specific contract or authority
    • Interest on compensation for failure to give possession
    • Interest prior to date of suit

    Interest by Bank on Deposits

    • Interest Rates on Deposits
    • Interest on FDRs—Amalgamation
    • Interest on National Saving Certificates (NSCs)
    • Interest—Death of Joint Account holder
    • Interest—Overdue Term Deposits
    • Interest—NRI Account
    • Interest on FDRs/TDRs of NRI
    • Interest and Compensation—Principle laid-down by the Supreme Court
    • Interest—consideration for grant or levy of

    Interest on Delayed Payments to SSI/MSME

    • Interest on delayed payments to SSIs/MSMEs 
  • Chapter 23

    Interest Rates on Advances Price 3.00  |  3 Rewards Points


    Power of RBI to Control Advances and Interest

    • Statutory Restrictions on Loans and Advances by Banks
    • Power of RBI to Control Advances by Banking Companies [Section 21  of the BR Act]
    • RBI Master Circulars
    • RBI Circulars and Directives on Interest binding on Banks 
    • Interest Rate Policy—Base Rate: Introduction
    • Base Rate of Interest (2015-16)
    • Interest Rate Policy
  • Chapter 24

    Companies and Corporate Borrowers and Consortium Advances by Banks Price 3.00  |  3 Rewards Points


    Power of Company to Borrow

    • Company must have power to borrow
    • Power to borrow monies [Section 180(1)(c) of the Companies Act, 2013,  w.e.f 12-09-2013]
    • Debt in excess of limit in Section 180(1)(c) of the Companies Act, 2013 is  not valid [Section 180(5) of the Companies Act, 2013 w.e.f 12-09-2013]
    • Private Company exempted (MCA Notification No. G.S.R. 464(E) dated  05th June, 2015)

    Project Report and Appraisal

    • Project report for credit facilities
    • Sanction and documentation
    • Registration of Charges [eForm CHG-1]
    • Creation or Modification of Charges [eForm CHG-1]
    • Copy of the balance sheet
    • Enhancement of credit facilities

    Consortium Advances by Banks

    • Need for consortium
    • Scope of Consortium
    • Appraisal and assessment
    • Conditions stipulated
    • Documentation
    • Demand promissory notes
    • Mortgage of an immovable property
    • Periodical stock statements
    • Documents for Working capital Loans under Consortium Lending
    • Registration of Charge with ROC
    • “Negative lien” for unencumbered assets to each bank
    • Interest rates may vary
    • Disputes among participating banks
    • Financial institutions in Consortium
    • Loan Syndication
    • Indebtedness to consortium of banks

    Lakshminarayanan Committee Report

    • Recommendations on consortium advances
    • Sharing of Income
    • RBI guidelines based on recommendations of Study Group

    Lending Under Consortium Arrangements and Multiple Banking Arrangements

    • RBI guidelines for Scheduled Commercial Banks and AIFIs

    Participation Certificates

    • Inter-Bank Participation Certificates (IBPCs)

    Winding up Petition by Bank

    • Inability to pay Debts [Section 433(e) of the Companies Act, 1956/Section 271(1)(a)  of the Companies Act, 2013]
    • Unable to pay its debts [Section 434 of the Companies Act, 1956/Section 271(2)  of the Companies Act, 2013]
    • Statutory Notice of demand
    • Persons competent to file petition [Section 439 of the Companies Act, 1956/ Section 272 of the Companies Act, 2013 ]
    • Discretionary power—Company solvent—Debt disputed
    • Claim of the Bank was not disputed
    • Bill discounting facilities
    • Bank Loan—Packing Credit Facility
    • Bridge loan
    • Bank Guarantee
    • Bona fide defence—Director’s powers
    • Promissory Notes
    • Unstamped Pronote not a defence
    • Lending by consortium and Stamp Duty
    • Bank overdraft or loan
    • Co-operative Bank—Recovery of debt
    • Default in One-Time Settlement (OTS)
    • Bank Secured Creditor—Alternative Remedy before DRT
    • Proceedings before DRT no bar to winding up petition
    • Winding-up—Application before DRT

    Winding up of Debtor Company

    • Debt Recovery Tribunal (DRT)—No leave of Company Court
    • Winding up—Failure to register Charge—Effect
    • Attachment—Companies Act cannot give way to another Statute
    • Bank or Financial Corporation—Secured Creditor—Conditional leave
    • Workmen, Secured Creditors, pari passu charge [Section 529(1), proviso of the Companies Act, 1956]
    • Secured Creditors and workers—Pari passu distribution
    • Bank—Recovery of Loan—Realisation of Assets in winding up 
  • Chapter 25

    Bank and Partnership Accounts Price 3.00  |  3 Rewards Points


    Provisions of Partnership Law

    • The Indian Partnership Act, 1932 (9 of 1932)
    • Definition of “partnership”
    • Principles of partnership

    Prohibition of Large Partnerships

    • Prohibition of association or partnership of persons exceeding certain number
    • Minimum number of members in a Company

    Banker’s Duty in Partnership Accounts

    • Banker’s duty of caution
    • Can lending banker be a partner?
    • Is banker dealing with a juristic person?

    Rights and Authority of a Partner

    • Rights and authority of a partner in bank accounts
    • Implied authority of partner to bind firm with bank
    • Acts done in usual way of carrying business firm
    • Borrowing from firm’s account and from bank
    • Settling debts towards bank

    Acknowledgement of Debts of Bank by Partner

    • Partner acknowledging firm’s debts to bank
    • Limitation law and acknowledgement of bank debt
    • Presumption of authority to acknowledge bank debt
    • Acknowledgement made to bank in Insolvency or Dissolution

    Partner’s Power to Bind Co-Partners

    • Partner’s general powers to bind the co-partners to bank debt

    Retirement and Severance of Partnership

    • Retirement, death, bankruptcy or dissolution
    • Impact of retirement of partner on bank debt
    • Liability of outgoing partner—Recovery of loan—Promissory note
    • Lending banker’s position when partner retires
    • Introduction of new partners
    • Adoption of a new firm as debtor
    • Admission of partner
    • Liability of new partner in reconstituted firm for pre-existing debts
    • Retired partner presumed discharged by lending banker
    • Fraudulent transaction
    • Notice of retirement of partner

    Dissolution of Partnership Firm

    • Bank debts on dissolution of firm
    • Appointment of Receiver of Manager
    • Retirement, death or bankruptcy
    • Liability of partnership firm even after it ceases to exist
    • Should bank be impleaded in a suit for dissolution?
    • Death of a partner and the bank account
    • Surviving partners and bank
    • Deceased partner and bank account
    • Insolvency of firm and bank account
    • Banker’s Lien in the Limited Liability Partnership Act, 2008
    • Bank account and bankruptcy of one partner
    • Banker’s debts payable first
    • Banker’s right over securities held
    • Security to cover debts of both firm and partner
    • Insanity of partner and bank account
    • Other Grounds for dissolution of firm
    • Partner’s private account versus firm’s debt to bank
    • Payment of firm’s debts and of separate debts
    • Retirement does not determine liability to bank
    • Rule in Clayton’s case and partnership account
    • Lending banker’s right of setting off a debt
    • Loan documents executed by one partner
    • Liability under negotiable instruments
    • Liability under bills of exchange
    • General principles found in decisions
    • Bank opening partnership accounts
    • Mode of operating bank account
    • Effect of non-registration of firm on bank account
    • Suit by partners not shown in the Register of Firms not maintainable
    • Banker suing partners in firm’s name
    • Banker’s right to sue ostensible partner
    • Banker’s right to sue on death of partner
    • Seizure of bank account

    Limited Liability Partnership (LLP)

    • The Limited Liability Partnership Act, 2008 (6 of 2009)
  • Chapter 26

    Advances or Lending to Priority Sectors and Social Banking Price 3.00  |  3 Rewards Points


    Priority Sectors Lending

    • Need for priority sectors lending
    • Return for reporting priority sector advances
    • Target of priority sector lending
    • Shortfall in agri/priority sector lending to RIDF of NABARD
    • Credit to Agriculture and Allied Activities
    • Priority sector lending by RRBs
    • General-purpose Credit Cards (GCCs)
    • Social Banking and Special Programmes

    RBI Master Circulars (2016)

    • RBI Master Circular—Lending to Priority Sector

    Priority Sector and Social Banking

    • RBI Master Circulars on Advances/Financial inclusion (2015/2016)
    • Special programmes and priority sector schemes

    Credit Facilities to Scheduled Castes/Tribes (SC/ST)

    • RBI Master Circulars on Credit facilities to SCs & STs (2016/2017)

    Credit Facilities to Minority Communities 

    Prime Minister Rozgar Yojana

    • Loan to youth under scheme
    • Loan to unemployed youth

    Government Sponsored Socially Oriented Insurance Schemes

    Agriculture Debt Waiver Scheme, 2008

    • Agricultural Debt Waiver and Debt Relief Scheme, 2008
    • Initiatives for Agriculture Sector Union Budget 2016-2017 
  • Chapter 27

    Financial Inclusion and Lending to Micro Small and Medium Enterprises MSMEs Price 3.00  |  3 Rewards Points


    Financial Inclusion

    • Delivery of financial services at affordable cost
    • Roadmap to 100 per cent Financial Inclusion
    • Roadmap for opening of banking outlets in unbanked villages
    • Direct Benefit Transfer
    • Dispensing with No Due Certificate
    • Financial Literacy Camps
    • Financial Inclusion and Development Department
    • BSBD –Basic Savings Bank Deposit Account : (Substituted for  ‘No-Frills’ Accounts)
    • Total Financial Inclusion
    • Union Budget 2016-2017
    • Financial  Inclusion Fund (FIF) and Financial Inclusion Technology Fund
    • Micro Finance in India
    • SHG-Bank Linkage Programme
    • Some of concerns in 100% financial inclusion

    Micro, Small & Medium Enterprises (MSMEs)

    • Micro,  Small & Medium Enterprises (MSMEs)—Union Budget 2016-17
    • RBI Master Direction on Lending to MSMEs Sector
    • Measures to Step up Credit to SMEs
    • Banking Codes and Standard Board of India (BCSBI)
    • Collateral Free loans to Micro and Small Enterprises (MSEs)
    • RBI Priority Sector Lending–Categorisation of Services under MSMED Act
    • Credit information reporting in respect of Self Help Group (SHG) members
    • Micro Credit
    • SHG-Bank Linkage Programme
    • Credit Guarantee Schemes
    • Interest on delayed payments to SSIs/MSMEs 
  • Chapter 28

    Advances Against Collateral Securities Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Exposure Norms for Advances by Banks 
    • Secured Loans 
    • Modes of Securing Advances 
    • Banker's Lien 
    • Pledge 
    • Mortgage of Movables 
    • Hypothecation of Movables 
    • Margin Money 
    • Liquidity of Security 
    • Need for Written Agreements 
    • Realisation of Securities 
    • Advances, Against Stock Exchange Securities 
    • Forms of Negotiability 
    • Non - Negotiable Securities 
    • Equitable Title and its Drawbacks 
    • Methods of Equitable Mortgage of Securities 
    • Precautions in Equitable Mortgage of Securities 
    • Shares of Private Companies 
    • Loans and Advances Against Shares 
    • RBI Master Circulars on Advances 
  • Chapter 29

    Advances against Goods and Documents of Title to Goods Price 3.00  |  3 Rewards Points


    Goods and Documents of Title as Security

    •  Divergent views as to suitability of Bills of Lading etc. As securities
    •  Divergence explained
    • Advantages of goods and documents
    • Drawbacks of goods and documents

    General Precautions

    • Important precautions to be taken by lending bankers
    • Borrower to be trustworthy and experienced
    • Banker to be familiar with different markets
    •  Nature of commodity
    • Storage—Godown Register
    •  To deal with owner of goods or an agent in possession
    •  To take possession of security
    •  Seizure, police prohibiting payment to customer from account
    •  Suspicious bank account
    •  Seizure of vehicles by lending bank
    •  Hypothecation Agreement—Physical possession of car
    •  Seizure of car without observing legal requirements
    •  Seizure of lorry for non-payment, not theft
    •  Decree after deducting value of seized vehicles
    •  Bank not bound to realise out of seized vehicle
    •  Goods or produce offered should be necessaries of life
    •  Proper care in valuation
    •  Credit to Agriculture and Allied Activities (2016-17)
    •  Danger of over-valuation
    •  Proper storage and insurance of goods pledged
    •  Selective credit control

    Advances against Documents of Title to Goods

    •  Principal documents of title to goods
    •  Bills of Lading (B/L)
    •  Bills of Lading issued for goods not on board
    •  Damage due to negligence of carrier
    •  Bill of Lading distinguished from Bill of Exchange
    •  Endorsement on Bill of Lading
    •  Dock warrants
    •  Warehouse-keeper’s certificates
    •  Advances against Warehouse Receipts (W/R)– Precautions
    •  Delivery orders or warrants (D/Os)
    •  Railway Receipt (R/R) 
    •  Way bills
    •  Distinction between documents of title to goods and mere receipts
    •  Additional risks in advances against documents of title to goods
    •  Right of stoppage in transit

    General Precautions

    •  Bankers advancing money against documents of title to goods
    •  Customer’s integrity and experience
    •  Certificate of packing
    •  Copies of Bill of Lading
    •  No onerous condition
    •  Assignee’s endorsement in blank
    •  Insurance policies
    •  Trust Receipts
    •  Decisions of Calcutta High Court on Trust Receipts
    •  Solicitor’s liability for wrong advice


  • Chapter 30

    Miscellaneous Securities Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Lands and Buildings
    • Unpopularity of Real Estate with Banks as Security 
    • Mortgages of Immovable Property 
    • Rights of Equitable and Legal Mortgage 
    • Negligent Dealings with Title-Deeds
    • Classification of Legal Mortgages 
    • Auction Purchaser 
    • Award of Interest on Mortgage Debt 
    • Life Policies as Security for Bank Advances 
    • Unpopularity of Life Policies as Securities 
    • Precautions by Bankers 
    • Release of Securities
    • Book Debts as Bankers' Security 
    • Debentures as Bankers' Security 
    • Financing of Ships
  • Chapter 31

    Guarantees as Security for Bankers Advances and Position if Guarantor or Surety Price 3.00  |  3 Rewards Points


    Guarantees as Security for advances

    • Guarantees as security for banker’s advances
    • Guarantee defined
    • Surety or guarantor not co-obligant
    • Contract of indemnity
    • Indemnity and Guarantee
    • Terms of the guarantee 
    • Guarantee distinguished from indemnity
    • Pros and cons
    • Remedies for the apparent drawbacks

    Rights of Banker Against Surety or Guarantor

    • Right of lien
    • Surety’s liability co-extensive with that of principal debtor
    • Nature of liability of surety
    • Right of SFC against borrower not surety or guarantor
    • Proceeding against surety [Section 13(2) of the SARFAESI Act, 2002]
    • Banker’s claim against bankrupt surety’s estate
    • NRI Guarantor [Sections 42 and 44 of FEMA]
    • Guarantor’s liability
    • Property of principal to be sold first before action against guarantor
    • Joint liability of principal debtor and guarantor
    • Recovery from principal debtor and surety
    • Suit for recovery before expiry of term of loan
    • Suit for recovery liability of guarantor
    • Joint and several liability

    Who can Enter into Contracts of Guarantee

    • Minors, lunatics and married women
    • Registered Companies
    • Other precautions
    • Partnership firms
    • Execution of guarantee deed by secretary to the Government

    Consideration in Contract of Guarantee

    • Consideration to be real, not illusory
    • Contracts of guarantee obtained by concealment
    • Effects of concealment on guarantee
    • Effects of misrepresentation or failure to disclose material facts
    • No free consent when guarantee obtained by misrepresentation
    • Guarantee, in case principal debtor is not liable

    Scope and Kinds of Guarantee

    • Specific guarantee or continuing guarantee
    • Recovery of loan
    • Recovery of loan leave to defend
    • Limited and continuing guarantee
    • Counter guarantee
    • Guarantee may be oral, omission to sign not to absolve surety
    • Guarantee for Cash-Credit Account, continuing guarantee
    • Continuing guarantee so long as principal debtor remains liable
    • Limitation and continuing guarantee
    • Revocation of continuing guarantee

    Obligations of Banker

    • Not to vary the original terms, discharge of surety
    • Discharge of surety on creation of new agreement of guarantee
    • Enhancement of loan
    • Not to release debtor
    • Discharge of surety by creditor
    • Discharge of surety by creditor’s failure to preserve security
    • Discharge of surety by loss of security
    • Effects of release of co-surety
    • Acknowledgement by one of sureties
    • Effects of negligent or improper handling of securities
    • Discharge of surety by negligence of bank
    • Discharge by impairment of surety’s eventual remedy
    • Discharge of surety by payment and loss of security
    • Not to give indulgence to the debtor
    • Recovery from surety by-passing principal requires special ground 
    • Discharge of surety under Section 135 of the Contract Act

    Precautions in Execution of Guarantee

    • Contract of guarantee be signed in bank manager’s presence
    • Notice of principal debtor’s death
    • Notice of debtor’s bankruptcy
    • Notice of lunacy of debtor or surety
    • Notice of dishonour of bills in reasonable time and waiver
    • Change in constitution of bank

    Rights of Surety or Guarantor

    • Common form of banker’s guarantee
    • Surety can call for particulars of extent of his liability
    • Right of revocation of guarantee
    • Provision for notice of specified period
    • Effect of notice of surety’s death or lunacy
    • Termination of guarantee by insolvency
    • Surety succeeds to all rights and equities of creditor
    • Death of guarantor, liability of legal representatives
    • Suit valued once for single cause
    • Surety’s right against principal debtor and co-sureties
    • Surety’s right to be discharged
    • Substitution of original by new agreement, discharge of surety
    • Delay on part of bank, liability of surety
    • Old Cash Credit Account closed, new A/c opened with new guarantor
    • Discharge of guarantor factual aspect, no automatic discharge
    • Abatement of suit against principal debtor, effect on surety
    • Provision for amalgamation and certain other contingencies

    Restrictions on Guarantees by Companies

    • Restrictions on guarantees given by a limited company

    Personal Guarantees from Directors  of Companies

    • Personal guarantees from Directors for advances to limited Company
    • Growing sickness in industrial units
    • Guarantees from professional directors or managers
    • Director-guarantor ceasing to be director
    • Decree against company not decree against managing director
    • Guarantor voluntarily blending its share
    • Stamp duty on guarantee deed 
  • Chapter 32

    Bank Guarantees and Letters of Credit Price 3.00  |  3 Rewards Points


    Bank as Guarantor

    • Indemnity and Guarantee
    • Terms of the guarantee
    • Reserve Bank’s guidelines on guarantee business
    • RBI Master Circular on Guarantees and Co-acceptances

    Performance and other Guarantees by Banks

    • Commercial banks execute guarantees on behalf of customers
    • Some instances of Bank Guarantees
    • Bank guarantees to specify liability of the bank
    • Terms of bank guarantee to be clear
    • Security and margin money from customer for bank guarantee
    • Bank guarantee, suit for recovery and limitation

    Kinds of Bank Guarantees

    • Different kinds of bank guarantee—Financial guarantee
    • Deferred payment guarantee
    • Guarantees to Government Departments
    • Miscellaneous guarantees
    • Unconditional and on demand Bank Guarantee

    Cancellation of Bank Guarantee

    • Return of guarantee documents

    Invocation of Bank Guarantee

    • Irrevocable Bank Guarantee (B/G) or Letter of Credit (L/C)
    • Invocation of Bank Guarantee
    • Invocation of unconditional on demand bank guarantee
    • Principles for injunction to restrain bank guarantee or letter of credit
    • Injunction restraining invocation and payment of bank Guarantee
    • Bank Guarantee—Injunction against invocation or encashment
    • Dispute between the parties
    • Fraud—Injunction to restrain encashment of bank guarantee
    • Irreparable injury
    • Documentary credit
    • Construction of Bank Guarantee
    • Encashment of Conditional Bank Guarantee
    • Guarantee for specified amount for damages
    • Liquidated damages clause
    • Computer contract
    • Bank guarantee to Government
    • Confiscation and guarantee
    • Advance payment guarantee
    • Court Injunctions and execution of decrees and guarantees
    • Place of bank guarantee and jurisdiction
    • No Writ against encashment of bank guarantee
    • Bank guarantee and winding-up of debtor company
    • Guarantee, stamp duty
    • Limitation for proceeding against guarantor
    • Limitation for enforcing guarantees
    • Limitation in continuing guarantee
    • Period lost in filing writ petition for staying encashment
    • Dealing with Injunctions
    • Injunction—When court will not issue

    Banker’s Letters of Credit (L/C)

    • Letter of Credit by banker in one place authorising some other banker
    • Uses of Letters of Credit
    • Letter of Credit—Security of a Banker
    • Where does Bank step in?
    • Scope of Letters of Credit (L/C)

    Development of Letters of Credit

    • Development of Letters of Credit (L/Cs)
    • Letters of Credit (L/Cs) and Export finance
    • Terms in a Letter of Credit
    • L/C an arrangement acceptable to all parties

    Amendment of Letter of Credit

    • Buyer cannot amend letter of credit unilaterally

    Kinds of Letters of Credit

    • Clean any documentary Letters of Credit
    • Revocable and irrevocable Letters of Credit (L/Cs)
    • Confirmed and Unconfirmed Letters of Credit (L/Cs)
    • Circular Letters of Credit
    • Letter of Credit with or without recourse
    • Revolving credit
    • Letters of Credit for C.I.F. contracts
    • Margin on Letters of Credit (L/Cs)
    • Assessment of letter of credit limit
    • Negotiation under Letters of Credit
    • Letters of Credit—Relationship between Negotiating and Issuing Bank
    • Precautions by banker negotiating a bill under a Letter of Credit

    Types of Letters of Credit

    • Back to Back Letter of Credit 
    • Transferable Letter of Credit
    • Omnibus Letter of Credit
    • Revolving Letter of Credit
    • Credit with Red Clause
    • Credit with Green Clause
    • Letter of credit as instrument of payment
    • Conditional leave to defend
    • Discrepancies in documents—Negotiating bank not negligent

    Irrevocable Letter of Credit—No Injunction

    • Irrevocable Letter of Credit (L/C) or Bank Guarantee (B/G)
    • Letter of Credit (L/C) or Bank Guarantee (B/G)
    • Principles for injunction to restrain letter of credit or bank guarantee
    • Documentary credit—Confirmed Letter of Credit
    • Letter of Credit (L/C)—Exception of fraud
    • Letter of credit an independent transaction
    • Encashment of bank guarantee and letters of credit
    • Liability under letter of credit
    • Injunction against payment under Letters of Credit
    • Garnishee Proceedings vis-à-visLetter of Credit
    • Jurisdiction for enforcement of Letters of Credit
    • Limitation for filing suit 
  • Chapter 33

    Financing of Exports Price 3.00  |  3 Rewards Points


    Financing of Export-Import

    • Export finance
    • Risks involved in financing of exports
    • Export credit insurance
    • ECGC Limited (Formerly known as Export Credit Guarantee  Corporation of India Ltd.)
    • Export Credit Insurance for Exporters
    • Special Schemes
    • ECGC Cover—Export bills rediscounted

    Export-Import Bank of India

    • Export-Import Bank of India (EXIM Bank)
    • EXIM Bank’s Major Programmes
    • Export Credits
    • Loans by Exim Bank to Indian Companies
    • Facilities for Export Oriented Units (EOUs)

    Export Credit Schemes

    • Export credit
    • Export Bills Credit Scheme
    • Export Credit (Interest Subsidy) Scheme
    • Duty Drawback Credit Scheme

    Rupee and Foreign Currency Export Credit

    • Rupee Export Credit Scheme
    • Rediscounting of export bills abroad scheme
    • Export Credit in Foreign Currency
    • RBI Master Circular on Export Credit Refinance Facility (2015/2016) 
  • Chapter 34

    Lease Financing and Factoring Services by Banks Price 3.00  |  3 Rewards Points


    Lease Financing By Banks

    • Lease financing of equipment or assets by banks
    • Types of leases
    • Finance lease
    • Framework of finance lease
    • Operating lease
    • Framework of operating lease
    • Ind AS-17 

    Characteristics of Different Forms of Lease

    • Manufacturer lessor
    • Sale and lease back
    • Full and partial payout lease
    • Leveraged lease
    • Sales aid leasing
    • Cross border lease
    • International lease
    • Big ticket lease

    Legal Aspects and Documentation

    • Documentation and Lease Agreement
    • Memorandum of Association and Articles of Association
    • Governing terms and conditions
    • Limitations of Turquand rule

    Lease Agreements

    • Standard lease agreements or contracts
    • Place of execution of Lease Agreement
    • Letters of caution/recognition of Lease
    • Delivery of equipment—precautions
    • Sub-lease transactions
    • . Sales tax or VAT on Lease Transactions
    • Guidelines on financing o
    • f leasing companies
    • Investment in other leasing companies
    • Limit of total investment in shares by bank
    • Maximum finance from bank
    • Computation of limit of bank finance
    • Nature of bank advances
    • Drawing power
    • Obligation of leasing company

    Factoring Services

    • Leasing, hire purchase and factoring services
    • Factoring Services by banks
    • Domestic Factoring
    • International Factoring
    • Factor purchases the client’s book debts
    • Advantages of factoring
    • Discounting of invoice
    • Export business
    • Forfeiting
    • Factoring not suitable
    • Assignment of existing or future debts

    Kinds of Factoring Agreements

    • Factoring Agreement
    • Factoring with recourse
    • Bulk factoring
    • Maturity factoring
    • Disclosed factoring
    • Undisclosed factoring
    • Agency factoring

    Legal Requirements of Factoring

    • The Factoring Regulation Act, 2011
    • Assignment of receivables to factor [Section 7 of the Factoring  Regulation Act, 2011]
    • Notice to debtor
    • Stamp on instrument of assignment
    • Priority among successive assignees of same debt
    • Assignment and prior charge 
    • Insolvency of supplier
    • RBI Master Direction – Financial Services provided by Banks Directions, 2016 
  • Chapter 35

    Consumer Loans Personal Loans and Credit Card Loans Price 3.00  |  3 Rewards Points


    Consumer Loans

    • Consumer durable loans
    • Bases for assessment
    • Credit scoring models
    • Lending through retailers
    • Recourse to dealer

    Personal Loans

    • Personal loans by Banks
    • Pros and cons of personal loans
    • Reports by RBI

    Credit Card loans

    • Personal loans by Banks

    Recovery of Dues and Redressal  of Grievances

    • Recovery Agents—Practice of musclemen deprecated by the Supreme Court
    • Recovery of Debts Due to Banks and Financial Institutions Act, 1993
    • Dishonour of Cheques, Settlement and Lok Adalats
    • The Banking Ombudsman Scheme, 2006
    • The Consumer Protection Act, 1986 
  • Chapter 36

    Documentation and Stamp Duty Price 3.00  |  3 Rewards Points


    • Meaning of Document
    • Execution of document when complete
    • How to prove documents [Indian Evidence Act, 1872 (1 of 1872)]
    • Production and inspection of documents in any legal proceedings 
    • Guidelines for banks for execution of necessary documents
    • Printed form of contract or documents
    • Alterations in Documents
    • Stamping of documents
    • Registration of documents with Registrar of Assurances
    • Registration of Memorandum of  Entry
    • Partnership and registration of documents
    • Partnership Deed duly registered
    • Registration with Registrar of Companies
    • Valuation of securities offered
    • Opening of Account—Practice of Banks and FIs
    • Borrowal Accounts
    • Documentation for Accounts of individuals
    • Documentation for Accounts of partnership firm
    • Documentation for Accounts of Company
    • Documentation for Accounts of Society
    • Generally—Guarantees and Mortgages
    • Documents for Guarantees
    • Documents where bank issues guarantee
    • Different kinds of bank guarantee
    • Return of guarantee documents
    • Proof of Letter of guarantee, burden on bank
    • Writ for seeking return of guarantee documents

    Stamp-Duty on Documents

    • The Indian Stamp Act, 1899 (2 of 1899)
    • Liability of Parties for Stamp-Duty
    • Adjudication as to Proper Stamp
    • Penalties under Stamp Act
    • Cancellation of Stamps
    • Stamp-duty on Bills, Drawn on Parties Out of India 
    • Stamping after execution
    • Local Stamp Acts passed by various States
    • Inchoate Stamped Instruments 
  • Chapter 37

    Subsidiary Special and Para Banking Services by Banks Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Subsidiary Banking Services 
    • Agency Services 
    • Coupons
    • Dividend and Interest Warrants
    • Salaries, Pensions and Rents 
    • Stocks and Shares 
    • Confidentiality of Relationship 
    • Trustee, Executor, Administrator or Attorney 
    • Bank Services as Trustees 
    • Banks as Executors and Administrators 
    • Banks as Attorney 
    • Banks as Correspondents 
    • Other Agency Services 
    • Miscellaneous or General Utility Services
    • Safe Custody of Customer's Valuables 
    • Bank Lockers
    • Some Useful Points Relating to Safe Deposit Vaults
    • Service Charges
    • Foreign Exchange Business
    • Performance and Other Guarantees by Banks
    •  Letters of Credit, Drafts, Travellers' Cheques
    • Banker's Drafts
    •  Acting as Referees
    • Underwriting Loans
    • Tax Matters 
    • Special Banking Services 
    • Letters of Comfort (LoC)
    • Letters of Indication 
    • Off-Shore Banking 
    • Merchant Banking 
    • Credit Cards 
    • Para-Banking Activities 
  • Chapter 38

    BCSBI and IBA Code of Banks Commitment to Customers and Banking Practices Price 3.00  |  3 Rewards Points


    BCSBI’s Codes on Banking Practices

    • Banking Codes and Standards Board of India (BCSBI)
    • BCSBI Code of Bank’s Commitment to Customers (Code)

    The IBA Code

    • IBA 
  • Chapter 39

    Operational Responsibilities and Negligence Price 3.00  |  3 Rewards Points


    Negligence of Bank and its Employees

    • Meaning of  “Negligence”
    • Callousness of employees
    • Bank’s certificate of loss of cheque
    • General liability
    • Wrong entry in pass-books
    • Conduct of Bank Officer
    • Opinion regarding customer
    • Advice as to investments
    • Non-compliance of customer’s instructions
    • Compliance by Ombudsman of Rules and Regulations
    • Bank acts as agent
    • Delay in collection
    • Contributory negligence of customer
    • Conversion

    Negligence in Dishonour of Cheque

    • Complaint for dishonour of  cheque
    • Dishonour of cheque—Wrongful debit entry
    • Dishonour of cheque—Amount kept in suspense account
    • Dishonour of cheque—over-writing not authenticated
    • Dishonour of cheque—Insufficient Funds
    • Dishonour of cheque—Banker’s cheque returned unpaid
    • Dishonour of cheque—debiting legal charges
    • Dishonour of cheque—wrongful dishonour 
    • Compensation for dishonour of  cheque

    Disciplinary Proceedings Against  Bank Employees

    • Court cannot sit over judgment of disciplinary authority
    • Public authorities to take elementary precautions against fraud
    • Stay of Civil Court proceedings
    • Stay of suit in exercise of inherent power under Section 151  of the Civil Procedure Code
    • Recovery of loan by bank cannot be stayed
    • Pendency of criminal matters not ground for stay
    • Benefit of scheme to all employees falling in same class
    • Effect of death pending proceedings
    • Departmental proceeding and confirmation
    • Interest on delayed payment of pension and gratuity
    • No prejudice by non-supply of inquiry report
    • Disciplinary proceedings quasi-judicial, reasoned order
    • Dismissal without reasons in order illegal
    • Misconduct by officer
    • Cruelty to wife—Dismissal from service
    • Power of punishment for misconduct with Disciplinary Authority
    • Travelling  facilities of  DRAT Presiding Officer
    • Promotion, performance in recovery of dues important factor
    • Application of Regulations to removal
    • Right to salary is property right
    • Validity of suspension order
    • Recovery of PF contributions from bank, ultra vires
    • Provident Fund dues, priority over mortgage and pledge
    • Enforcement of mortgage without intervention of court 
  • Chapter 40

    Frauds Forgeries Embezzlement and Vigilance in Banks Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Frauds and Forgeries in Banks 
    • Areas in Which Frauds Committed in Banks 
    • Fraud Prone Departments of Banks 
    • Frauds in Cash Department 
    • Frauds in Fixed Deposits Department 
    • Frauds in Current Account Department 
    • Frauds in Savings Bank Department 
    • Frauds in Advances Department 
    • Frauds in Remittance Department
    • Frauds in Credit Card Department 
    • Frauds in Book Keeping Department
    • Vigilance in Banks 
    • Central Vigilance Commission 
    • Frauds Reporting and Monitoring System 
  • Chapter 41

    Prudential Norms on Income Recognition Asset ClassificationNPAS and Provisioning Pertaining to Advances Price 3.00  |  3 Rewards Points


    • Income Recognition, Asset Classification and Provisioning
    • RBI Master Circulars 2015/2016

    NPA Management by Banks

    • Credit Information on Prospective Borrower’s Capacity to Repay
    • The Credit Information Companies (Regulation) Act, 2005
    • RBI Guidelines on NPAs and Securitisation and Reconstruction of Financial  Assets and Enforcement of Security Interest Act, 2002 
  • Chapter 42

    Basel III CRAR and RBI Prudential Norms on New Capital Adequacy Framework Price 3.00  |  3 Rewards Points


    Basel Capital Adequacy (CRAR) Norms for Banks

    • Capital to Risk-weighted Asset Ratio (CRAR)—Basel Norms
    • Capital to Risk-weighted Assets Ratio (CRAR)
    • Capital Adequacy (CRAR) in Indian Banks

    Basel II & III Framework/Norms on CRAR

    • New Capital Adequacy Framework (NCAF)—Basel II Implementation
    • Basel II Framework in India
    • Capital to Risk-weighted Asset Ratio (CRAR) Requirements
    • Capital Adequacy—Basel II Implementation 
    • New Capital Adequacy Framework (NCAF)
    • Implementation of Basel III Capital Regulations in India
    • Summary of Basel III Capital Requirements
    • Implementation of Basel III Capital Regulations in India – Capital Planning
    • Implementation of Basel III Capital Regulations in Public Sector Banks (PSBs)
    • RBI Master Circulars on CRAR 2015/2016
    • Future of Regulations—Basel Committee principles
    • Regulation, Supervision and Risk Management of Banking Sector
    • Rules-based versus Principles-based Regulation
    • International Financial Architecture
    • International Accounting Standards—Basel Committee
  • Chapter 43

    The Negotiable Instruments Act 1881 Price 3.00  |  3 Rewards Points


    The Negotiable Instruments Act, 1881 (26 of 1881)

    • Negotiable Instruments Act of 1881
    • Objects of the NI Act
    • Variance in banking law and practice in India
    • Characteristics of Negotiable Instruments
    • Promissory Note [Section 4 of the NI Act]
    • Bill of Exchange [Section 5 of the NI Act]
    • Cheques [Section 6 of the NI Act]
    • Payment of cheques and protection to the paying banker
    • Collection of cheques and duties of collecting banker
    • ‘Customer’ under Section 131 of the NI Act
    • Dishonour of Cheques [Sections 138 to 142 of the NI Act] 
  • Chapter 44

    Cheques Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Definition of Cheque
    • Requisites of Cheques 
    • Drawing of Cheques 
    • Use of Printed Cheque Forms 
    • Dating of Cheques 
    • Account Payee or Bearer Cheques 
    • Material Alterations on Cheques
    • Signatures on Cheques 
    • Mistakes in Cheques 
    • Delivery of Cheque 
    • Consideration 
    • Crossed Cheques
    • Issue of Cheque 
    • Legal Position of "Holder"
    • Marking of Cheques 
    • Payee's Rights and Duties 
    • Transfer and Endorsement of Cheques 
    • Negotiable Instruments 
    • Execution of Instrument by Agent 
    • Negotiable Instruments - Guiding Principles 
    • Magnetic Ink Character Recognition - Micr 
    • Interest Payable on Negotiable Instrument 
  • Chapter 45

    Payment of Customers Cheques Price 3.00  |  3 Rewards Points


    Obligations of Paying Banker

    • Unequivocal obligation of banker to honour customer’s cheques  [Section 31 of the NI Act]  
    • Limitations on banker’s duty to honour customer’s cheques
    • Paying banker’s risks
    • Certificate of loss of cheque

    Precautions by Paying Banker

    • Open or crossed cheques
    • Paying banker and crossed cheques [Sections 126-129 of the NI Act]
    • Risks of payment contrary to crossing
    • . “Not Negotiable” or “Account Payee” crossings
    • Is cheque drawn on particular branch or office at which it is presented?
    • Mutilated cheques
    • Correctness of form
    • Risks in honouring post-dated and stale cheques
    • Stale cheques—Outstanding for three months
    • Not to pay out of banking hours
    • Raised amounts—Amount of cheques altered
    • Cheques with material alterations [Sections 87-89 of the NI Act]
    • Blank Cheque duly signed, filled in different ink, not material alteration
    • Computation of balance or state of customer’s account
    • Not to retain any part of balance to meet contingent liabilities
    • Not to offer a part of the amount
    • Appropriation of payment
    • Right of debtor not applicable to payments by installments
    • Endorsements on cheque regular
    • Once a bearer, always a bearer [Section 85(2) of the NI Act]
    • Cheques endorsed in blank
    • Endorsement of order cheques
    • To see that endorsements are regular
    • Conditional endorsements
    • Guaranteed endorsements
    • Origin of statutory protection given to banker
    • Statutory protection under Indian law explained

    Payment in Due Course

    • Main requirements [Section 10 of the NI Act, 1881]
    • Payment on maturity
    • Payment in good faith and without negligence
    • Person in possession of instrument 
    • Payment of company’s cheque in winding-up
    • Protection in case of crossed cheque
    • Protection in case of a bearer cheque
    • Protection for drafts drawn by one office on another office of same bank
    • Customer’s signature
    • Cheque should bear signature which banker is instructed to honour
    • Cheque may be signed by a person authorised to do so
    • Customer and forged signature, no mandate
    • Forged cheque—Conduct of customer may amount to estoppel
    • Reposing confidence in person previously convicted of forgery, no bar
    • Customer’s subsequent negligence
    • Forged cheque is no cheque 
    • Customer’s duty in case of being informed of forgery by a bank official
    • Legal position in respect of cheque bearing forged signature
    • Forgery of customers’ signatures on requisition slips
    • “Enabling” theory
    • True basis of negligence

    When Payment must be Refused

    • Duty and authority of paying banker to refuse to pay cheques

    Legal Significance of Notice

    • “Notice” or knowledge of facts
    • Statutory provisions as to notice of facts
    • Exhaustion of statutory remedy

    Banker as Payer of Domiciled Bills

    • No legal obligation to honour bills
    • Points to be considered in honouring domiciled bills
    • Government Savings Bank Act, 1873 (5 of 1873)

    Foreign Cheques

    • Law governing Foreign Cheques [Sections 134-137 of the NI Act, 1881] 
  • Chapter 46

    Dishonour of Cheques Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Negotiable Instruments Act, 1881 [Sections 138-147]
    • Object and Ingredients of Sections 
    • Mens Rea not Essential 
    • Cheque Drawn by the Drawer 
    • Cheque for Discharge of Debt or Liability 
    • Presumption as to Legal Debt or Liability 
    • Presentment of Cheque as a Condition 
    • Dishonour due to Insufficiency of Funds 
    • Banker's Return Memo or Bank's Slip 
    • Stop Payment of Cheque 
    • Account Closed 
    • Liability under Blank Cheque 
    • Notice of Demand under Section 138
    • Form of Notice of Dishonour 
    • Mode and Proof of Service of Notice 
    • Statutory Time for Drawer to pay 
    • Innocence not Allowed as Defense 
    • Dishonour of Cheques by Company 
    • Liability of Firm's Partner for Dishonour 
    • Sole Poprietary Firm 
    • Association of Individuals 
    • Cognizance of Offences 
    • Time Limit for Filling Complaint
    • Persons Competent to File Complaint
    • Who can be made the Accused? 
    • Liability of Guarantor or Surety 
    • List of Witnesses with Complaint
    • Jurisdiction of Courts/Magistrates 
    • Single Complaint for Multiple Cheques 
    • Summary Trial for Dishonour of Cheques 
    • Mode of Service of Summons 
    • Evidence on Affidavit and Cross-Examination 
    • Quashing of Complaints 
    • Conviction and Sentence 
    • Revision 
    • Appeals 
    • Compunding of Offences 
  • Chapter 47

    The Banking Regulation Act 1949 Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Main Provisions 
    • Social Control 
    • Business of Banking Companies 
    • Applicability of Banking Regulation Act 
    • Summary of Main Provisions 
    • Capital and Reserves 
    • Formation of Subsidiary Companies 
    • Directors, Board of Directors and Chairman
    • Restrictions on Loans and Advances 
    • Reserve Fund 
    • Cash Reserve 
    • Statutory Liquidity Ratio (SLR)
    • Reserve Bank's Powers under the Br Act, 1949
    • Lincensing of Banking Companies 
    • Opening and Transfer of Branches 
    • Submission of Returns to Reserve Bank 
    • Other Powers of Reserve Bank (RBI)
    • Accounts and Audit
    • Inspection and Scrutiny 
    • Powers of the Central Government under Banking Regulation Act 
    • Prohibition/Punishment for Certain Activities 
    • Acquisition of Banking Companies 
    • Suspension of Business or Moratorium 
    • Winding-up of a Banking Company 
    • Amalgamation of Banking Companies 
    • Public Examination of Directors and Auditors 
    • Misfeasance Proceedings 
    • Certain Operations of Banking Companies 
    • Preservation of Records
    • Nomination for Depositors' Money 
    • Nomination for Articles in Safe Custody
    • Nomination for Contents of Safety Lockers 
    • Penalties 
    • RBI Master Circulars on Banking Regulation 
  • Chapter 48

    Co-operative Banks and Banking Regulation Act 1949 Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • The Banking Regulation Act, 1949 Applicable to Co-operative Banks with Modifications
    • Application of the Banking Regulation Act to Co-operative Banks 
    • The Banking Regulation Act, 1949 as Applicable to Co-operative Banks 
    • Main Provisions of the Banking Regulation Act, 1949 as Applicable to Co-operative Societies/Banks (AACS)
    • The Banking Regulation Act to Override Bye-Laws 
    • Minimum Paid-Up Capital 
    • Lincensing of Co-operative Banks 
    • The Depositor Education and Awareness Fund Scheme, 2014
    • Application for New Branch through NABARD 
    • Cash Reserve (CRR) for Co-operative Banks 
    • Statutory Liquidity (SLR) for Co-operative Banks 
    • Restrictions on Shares in other Co-operatives
    • Restrictions on Loans and Advances 
    • Accounts and Audit
    • RBI's Power to give Directions to Co-operative Banks 
    • Provisions Not Applicable to Co-operative Banks 
    • Banking Regulation (Co-operative Banks) Rules 
    • Penalties for Co-operative Banks 
    • Bankers' Book Evidence Act, 1891
    • Banking Regulation Act not Derogatory 
    • Multi-State Co-operative Bank 
    • Scheduled Co-operative Banks 
    • Issue of Credit Cards by Scheduled Urban Co-operative Banks 
    • Insurance Business by Co-operative Banks 
    • STCBS/DCCBS - Prevention of Money Laundering 
    • RBI Master Circulars for Co-operative Banks 
  • Chapter 49

    The Bankers Books Evidence Act 1891 Price 3.00  |  3 Rewards Points


    Certified copy of Bankers’ Books as Evidence

    • The Bankers’ Books Evidence Act, 1891 (18 of 1891)
    • Exception to the Indian Evidence Act, 1872 (1 of 1872)
    • “Bankers’ Books” [Section 2(3) of the BBE Act, 1891]
    • “Certified Copy” [Section 2(8) of the BBE Act, 1891 as amended by the  IT Act, 2000]
    • Printout of entry or copy of printout [Section 2A of the BBE Act, 1891]
    • Reserve Bank of India (RBI) Circulars
    • Certified copies to be produced in legal proceedings
    • Evidence in support of entries that money was advanced
    • Statement of account duly certified
    • Proof of entries in Bankers’ Books
    • Admissibility of Electronic Records
    • Computerised statement of account not duly certified
    • Certified copy of the statement of account 
    • Entries in Banker’s Books certified to be true 
    • DRT jurisdiction—Amount not in dispute as per certified statement
    • Bahi Entries – Secondary evidence
    • Officers of Bank when compellable to produce Banker’s Books  [Section 5 of the BBE Act]
    • Bank not a party to legal proceedings
    • “Legal proceeding” [Section 2(4) of the BBE Act]
    • Inspection of Bankers’ Books by order of Court [Section 6 of the BBE Act]
    • Discretion of the Court
    • Inspection of books of third party
    • Party to a legal proceeding
    • Order for production and inspection of Banker’s Books [Section 8 of the BBE Act]
    • The BBE Act, 1891 is applicable to Co-operative Banks 
  • Chapter 50

    The Banking Ombudsman Scheme 2006 Price 3.00  |  3 Rewards Points


    • The Banking Ombudsman Scheme, 2006
    • The Banking Ombudsman Scheme, 2006 (As amended in 2009)
    • Object of Schemes—Resolution of complaints in services by banks
    • Revised and amended Banking Ombudsman Scheme, 2006
    • Ombudsman bound by RBI Act and Rules framed under it
    • Banking Ombudsman cannot interfere with repayment schedule
    • Banking Ombudsman—Bar of jurisdiction after application to DRT
    • No provisions for hearing before decisions
    • Examination of credit rating by Ombudsman
    • Provisions for appeal against award
    • Alternative remedy for deficiency in banking services
    • Remedy before Consumer Forums
  • Chapter 51

    Banking Services and The Consumer Protection Act 1986 Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • The Consumer Protection Act, 1986
    • Banking Services and Consumer Protection Law
    • Jurisdiction of Forum and Commissions
    • Complex Questions of Fact and Law
    • Bona Fide Excercise of Discretion 
    • Mala Fide and Negligent Acts 
    • Deficiency in Banking Services 
    • Fixed Deposits (FDRS) - Deiciency in Service 
    • Banker's Lien - Deficiency in Service 
    • Cheques - Deficiency in Service 
    • Demand Drafts - Deficiency in Service 
    • Advances or Loans by Banks - Deficiency in Service 
    • Pledge - Deficiency in Service
    • Hypothecation - Deficiency in Service 
    • Credit Cards - Deficiency in Service 
    • Bank Guarantee - Deficiency in Service 
    • Letters of Credit - Deficiency in Service 
    • Bank Lockers - Deficiency in Service 
    • Deficiency in Other Banking Services 
    • Ex-Parte Orders 
    • Powers of Consumer Courts
  • Chapter 52

    Wilful Defaulters of Banks and Financial Institutions Price 3.00  |  3 Rewards Points


    Wilful Defaulters

    • RBI Master Circulars on Wilful Defaulters (2015/2016)
    • RBI Master Circular on Wilful Defaulters
    • The Credit Information Companies (Regulation) Act, 2005
    • Legal remedies against wilful defaulters
    • Conveying of information that affect rights of parties
    • Classification of Wilful defaulter
    • CDR in Case of Wilful Defaulter
  • Chapter 53

    Recovery of Debts Due to Banks Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Need for Debt Recovery Tribunals 
    • Remedy under RDB Act, 1993 and SARFAESI Act, 2002
    • Salient Provisions of RDB Act, 1993
    • Definitions 
    • Interpretations and Construction 
    • Establishment of Tribunal (DRT)
    • Jurisdiction and Powers of Tribunals 
    • Application and Procedure of Tribunal (DRT)
    • Documents to be filled with Application 
    • Fees Payable 
    • Defects in Application 
    • Impleadment of Parties, Banks and FIs
    • Written Statement 
    • Evidence on Affidavit 
    • Meaning of 'Debt' 
    • Counter-Claim 
    • Adjournment
    • Amendment of Pleadings 
    • Interim or Interlocutory Orders 
    • Power to Grant Injunction 
    • Jurisdiction to Award Interest
    • Settlement or Compromise 
    • Appeals to Appellate Tribunal (DRAT)
    • Pre-Deposit on Filing Appeal and Waiver 
    • Procedure and Powers of Tribunals
    • Powers of tribulans (DRT and DRAT)
    • Limitation Act Applicable to Tribunal (DRT)
    • Liability of Guarantors or Sureties 
    • Recovery of Debts of Company in Winding Up 
    • Liability of Partners for Debts 
    • Liability of HUF Members for Debts 
    • Liability of Legal Representatives 
    • Modes of Recovery of Debts 
    • Attachment and Sales of Securities 
    • Validity/Amendment of Recovery Certificate 
    • Stay of Proceedings under Certificate 
    • Other Modes of Recovery 
    • Appeals Against Order of Recovery Officer 
    • Second Appeal 
    • Transfer of Pending Cases 
    • Certificate of Recovery in Case of Decree
  • Chapter 54

    Securitisation and Reconstruction of Financial Assets - The SARFAESI Act 2002 Price 3.00  |  3 Rewards Points

    The topics covered under this chapter are - 

    • Asset Securitisation in Banks 
    • the SARFAESI Act, 2002 and Subsequent Amendments 
    • Interpretation and Construction 
    • Scheme of the SARFAESI Act and Rules 
    • Salient Provisions of the SARFAESI Act, 2002 
    • Definitions 
    • Registration of Securitisation Companies 
    • Cancellation of Registration 
    • Acquisition of Interest in Financial Assets 
    • Transfer of Applications to any one DRT
    • Notice to Obligor
    • Issue of Security Reciepts 
    • Assets Reconstruction 
    • Other Functions of Securitisation Company 
    • Resolution of Disputes 
    • Power of RBI to Issue Directions 
    • Enforcement of Security Interest
    • Remedy under SARFAESI Act, 2002 and RDB Act, 1993
    • SARFAESI Rules, Forms and Procedure 
    • Assistance of CMM or District Magistrate 
    • manner of Takeover of Management 
    • Appeal to Debts Recovery Tribunals (DRT/DRAT)
    • Form, Procedure and Fees on Appeal 
    • Application to District Judge 
    • Appeal to Appellate Tribunal (DRAT)
    • No Writ - Alternative Remedy of Appeal 
    • Protection of Interest of Borrowers
    • Central Registry 
    • Offences and Penalties 
    • Exemption from the SARFAESI Act
    • Protection of Action in Good Faith 
    • Offences by Companies 
    • Jurisdiction of Civil Courts Barred 
    • SARFAESI Act to override other laws 
    • Limitation and SARFAESI Act 
    • Application of Other Laws 
    • Power of Government to Make Rules 
    • Provisions to Apply Central Registry 
    • Amendment of Certain Acts 
    • RBI Circulars, Guidelines and Directions 
  • Chapter 55

    Subject Index Price 3.00  |  3 Rewards Points

    Subject Index

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