Parliamentary Acts Related To Banking Sector In India – Exam Study Notes

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Parliamentary Acts Related To Banking Sector In India – Exam Study Notes

Vital Parliamentary Acts related to Banking sector in India
The table given below gives you a comprehensive list of Important Parliamentary Acts related to Banking.

Name of the Act

Year of Promulgation

Societies’ Registration Act
1860
Negotiable Instruments Act
1881
Co-operative Societies Act
1912
Provident Funds Act
1925
Reserve Bank of India Act
1934
Insurance Act
1938
Central Excise Act
1944
Public Debt Act
1944
International Monetary Fund and Bank Act
1945
Employees’ State Insurance Act
1948
Banking Regulation Act
1949
Chartered Accountants Act
1949
Contingency Fund of India Act
1950
Employees’ Provident Funds and Miscellaneous Provisions Act
1952
State Bank of India Act
1955
Life Insurance Corporation Act
1956
Securities Contract Act
Companies Act
Central Sales Tax Act
State Bank of Hyderabad Act
State Bank of India (Subsidiary Banks) Act
1959
Deposit Insurance and Credit Guarantee Corporation Act
1961
Customs Act
1962
Unit Trust of India Act
1963
Nationalization of Banks Act ( But government decided to nationalize 14 major commercial banks on 19th July, 1969.)
1964
Banking Laws (Application to Co-operative Societies) Act
1965
PPF Act
1968
General Insurance Business (Nationalization) Act
1972
Regional Rural Banks Act
1976
Prize Chits and Money Circulation Scheme (Banning) Act
1978
Export-Import Bank of India Act
1981
NABARD Act
1981
Chit Funds Act
1982
General Insurance Business (Nationalization) Amendment Act
1985
Securities and Exchange Board of India Act
1992
Insurance Regulatory and Development Authority Act
1999
Foreign Exchange Management Act
1999
Prevention of Money Laundering Act
2002
Fiscal Responsibility and Budget Management Act
2002
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.
2002
Government Securities Act
2006
Securities Laws (Amendment) Act
2014
The Regional Rural Banks (Amendment) Act- Diluted the sharing pattern by limiting the composite share of central govt. and sponsor bank to 51%
2014
The Insurance Laws (Amendment) Act- Pushed FDI limit to 49%
2015
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