Central Banking Laws in India

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Description
A work of this nature definitely could not have been the result of a few days of solitary, independent effort. In shaping the thoughts presented in this book, a number of persons have made significant contributions. Some are still in service, some lead retired lives and some have left for heavenly abode. Without naming each person, I remember them and place on record my sincere thanks to all of them.
This book carries a Foreword written by Dr. Y.V. Reddy, former Governor of the Reserve Bank of India and a renowned expert in the field of central banking in his own right. Many of the speeches delivered by him during his tenure in the Reserve Bank, and are in public domain, came handy to me while working on the subject. It surprised me in no small measure to see the admirable efforts taken by him to find out and explain the legal basis of the multi-dimensional functions of the Reserve Bank. to the general public. His views have added tremendous value to this work and I owe him a great deal for his kind and encouraging words.
When I go down the memory lane, I can think of many illustrious people who had a decisive role in shaping my thoughts and developing an inquisitorial nature in me. I feel incredibly fortunate to be associated with them. Though I do not propose to catalogue their names, it will be a great disservice if I do not specifically mention two of my former senior colleagues, Shri K.D. Zacharias and Shri G.S. Hegde, former Principal Legal Advisers in the Reserve Bank of India. Both gave me tremendous support, and freedom to work independently, boosting my level of confidence substantially.
Special thanks are due to Shri Andrew Joseph, Legal Adviser, Reserve Bank of India, who took pains to meticulously go through the manuscript and provide his views on the content. I was immensely benefited from the ideas that cropped up during my discussions with many colleagues, working in my department, especially Shri R. Joseph Raj and Shri A. Krishnagopal, both Legal Advisers. Without the benefit of those discussions, I would not have ventured into many of the topics covered in the book. I also record my sincere thanks to Shri E.M. Sali, Joint Legal Adviser, who gave all the assistance required from the administrative side.
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Table of Contents
Part A - Reserve Bank of India Act, 1934
Chapter 1. Preliminary
Chapter 2. Incorporation, Capital, Management and Business
Chapter 3. Central Banking Functions
Chapter 3A. Collection and Furnishing of Credit Information
Chapter 3B. Provisions Relating to Non-Banking Institutions Receiving Deposits and Financial Institutions
Chapter 3C. Prohibition of Acceptance of Deposits by Unicorporated Bodies
Chapter 3D. Regulation of Transactions in Derivatives, Money Market Instruments, Securities
Chapter 3E. Joint Mechanism
Chapter 3F. Monetary Policy
Chapter 4. General Provisions
Chapter 5. Penalties
Part B - Banking Regulation Act, 1949
Part I - Preliminary
Part II  - Business of Banking Companies
Part II A  - Control Over Management
Part II AB - Supersession of Board of Directors of Banking Company
Part II B - Prohibition of Certain Activities in Relation to Banking Companies
Part II C - Acquisition of the Undertakings of Banking Companies in Certain Cases
Part III - Suspension of Business and Winding up of Banking Companies
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Author Details
Unnikrishnan Avanoor