Section 35 Banking Act

Act 5 of 2016 wef 30 11 2018 1st january 1971.

Section 35 banking act. B a copy of the report of the scrutiny shall be furnished to the banking company if the banking company makes a request for the same or if any adverse action is contemplated against the banking company on the basis of the scrutiny 2 it shall be the duty of every director or other officer 3 or employee of the banking company to produce to any officer making an inspection under sub section 1 4 or a scrutiny under sub. The bank at the request of a prospective lessee and upon the agreement of that person to lease the personal property provided that the lease the agreement with respect thereto and the amount of the investment of the bank in the property comply with section 35 1 of this act. Section 35ab power of reserve bank to issue directions in respect of stressed assets.

There are existing safeguards on bank lending to the property sector. Under the banking act banks total exposure to the property sector is capped at 35 per cent of total eligible assets. Section 35a power of the reserve bank to give directions.

Any bank incorporated by special law of any state or of the united states or organized under the general laws of any state or of the united states and having an unimpaired capital sufficient to entitle it to become a national banking association under the provisions of the existing laws may by the vote of the shareholders owning not less than fifty one per centum of the capital stock of such bank or banking. 35 exposure to immovable property sector 36 repealed. Section 35 loans to non property related corporations.

Nothing in this section shall be construed to prevent a bank from entering into an express agreement with a customer of that bank for a higher degree of confidentiality than that prescribed in this section and in the third schedule. Organization of state banks as national banking associations. Section 35 inspection.

Section 35a in banking regulation act 1949 177 35a power of the reserve bank to give directions. Section 35 in banking regulation act 1949. Section 35 limit dbu acu as at month and year all figures to nearest s 000.

Section 35 aa power of central government to authorize reserve bank for issuing directions to banking companies to initiate insolvency resolution process.