April 2025

Section 45T – Reserve Bank of India Act, 1934

Power to issue search warrants (1) Any court having jurisdiction to issue a search warrant under the Code of Criminal Procedure, 1973 (2 of 1974) may, on an application by an officer of the Bank or of the State Government authorised in this behalf stating his belief that certain documents relating to acceptance of deposits […]

Section 45S – Reserve Bank of India Act, 1934

Deposits not to be accepted in certain cases (1) No person, being an individual or a firm or an unincorporated association of individuals shall, accept any deposit— (i)   if his or its business wholly or partly includes any of the activities specified in clause (c) of section 45-I ; or (ii)   if his

Section 45QB – Reserve Bank of India Act, 1934

Nomination by depositors (1) Where a deposit is held by a non-banking institution to the credit of one or more persons, the depositor or, as the case may be, all the depositors together may nominate, in the manner prescribed by rules made by the Central Government under section 45ZA of the Banking Regulation Act, 1949

Section 45QA – Reserve Bank of India Act, 1934

Power of Company Law Board to order repayment of deposit (1) Every deposit accepted by a non-banking financial company, unless renewed, shall be repaid in accordance with the terms and conditions of such deposit. (2) Where a non-banking financial company has failed to repay any deposit or part thereof in accordance with the terms and

Section 45Q – Reserve Bank of India Act, 1934

Chapter IIIB to override other laws The provisions of this Chapter shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law.]

Section 45NC – Reserve Bank of India Act, 1934

Power of Bank to exempt The Bank, on being satisfied that it is necessary so to do, may declare by notification in the Official Gazette that any or all of the provisions of this Chapter shall not apply to a non-banking institution or a class of non-banking institutions or a non-banking financial company or to

Section 45NB – Reserve Bank of India Act, 1934

Disclosure of information (1) Any information relating to a non-banking financial company,— (i)   contained in any statement or return submitted by such company under the provisions of this Chapter ; or (ii)   obtained through audit or inspection or otherwise by the Bank, shall be treated as confidential and shall not, except otherwise provided