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Banking Regulation Act, 1949, (Maharashtra) Section 26

Title: Return of Unclaimed Deposits

State: Maharashtra

Year: 1949

Every banking company shall, within thrity days after the close of each calendar year, submit a return in the prescribed form and manner to the Reserve Bank as at the end of such calendar year of all accounts 1[in India] which have not been operated upon for ten years 2[* * *] : Provided that in the case of money deposited for a fixed period the said term of ten years shall be reckoned from the date of the expiry of such fixed period : The accounts which have not been operated for ten years shall be submitted as a return in the prescribed from to the Reserve Bank by every banking company within thirty days after the close of each calendar year by the fixed deposit are exempted. 3[Provided further that every Co-operative bank, other than a primary Co-operative bank shall also furnish a copy of the said return to the National Bank]. ______________________- 1. Substituted by Act 20 of 1950, section 3 for "in the States". 2. Certain words were omitted by Act 55 of 1963, s 14 (w.e.f. 1.2.1964). 3. Inserted by Act 61 of 1981, section 61 and Schedule (w.e.f. date of establishment of National Bank on 12.7.1982).

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Compulsory Deposit Scheme (Income Tax Payers) Act, 1974, Section 14

Title: Collection and Recovery of Compulsory Deposit and Penalty

State: Central

Year: 1974

.....the deposit or payment or allow the deposit or payment to be made by instalments subject to such conditions as he may think fit to impose in the circumstances of the case. (3) If a depositor fails to make the compulsory deposit within the time allowed under Section 5, or if he fails to deposit or, as the case may be, pay the amount which he is required to deposit or pay by notice under Sub-section (1) within the time allowed under Sub-section (2) (whether fixed originally or on extension), at the place and with or to the person mentioned in the said notice, the depositor shall be deemed to be in default. (4) Any arrear of compulsory deposit and any penalty imposed under this Act shall be recoverable in the manner provided in Chapter XVII-D of the Income-tax Act for recovery of arrears of tax and for this purpose the provisions of that Chapter shall apply as if references to the assessee therein were references to the depositor.

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Deposit Insurance and Credit Guarantee Corporation Act, 1961 Section 16

Title: Liability of Corporation in Respect of Insured Deposits

State: Central

Year: 1961

.....such order is made: Provided that the liability of the corporation in respect of an insured bank referred to in clause (a) or clause (b)1[of sub-section (1) of section 13]2[or clause (a) or clause (b) of section 13C] shall be limited to the deposits as on the date of the cancellation of the registration. Provided further that the total amount payable by the Corporation to any one depositer in respect of his deposit in that bank in the same capacity and in the same right shall not exceed one thousand and five hundred rupees: Provided further that the Corporation may, from time to time, having regard to its financial position and to the interests of the banking system of the country as a whole, raise, with the previous approval of the Central Government, the aforesaid limit of one thousand and five hundred rupees. (2) Where in respect of an insured bank a scheme of compromise or arrangement or of reconstruction or amalgamation has been sanctioned by any competent authority and the said scheme provides for each depositor being paid or credited with on the date on which the scheme comes into force, an amount which is less than the original amount and also the specified.....

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Add Emoluments Compulsory Deposit Act 1974 Chapter I

Title: Additional Emoluments (Compulsory Deposit) Act, 1974

State: Central

Year: 1974

.....dearness allowance is to take effect. Explanation I. --Where payment of dearness allowance is linked to a cost of living index or any other factor, any automatic payment, after the appointed day, of dearness allowance in consequence of any rise in such cost of living index or in consequence of any change in such other factor shall, notwithstanding the provisions of this clause, be deemed to be the additional dearness allowance. Explanation II. --For the purpose of computation of the additional dearness allowance in relation to an employee who enters into any post after the appointed day, dearness allowance payable, immediately before the appointed day, in relation to such post shall be deemed to be the dearness allowance payable to such employee as if, he were holding that post on the appointed day and any excess over and above the said dearness allowance shall be deemed, for the purposes of this Act, to be the additional dearness allowance in relation to such employee; (c) "additional wages" means such wages, over and above the wages payable to an employee in accordance with the rates in force immediately before the appointed day, as may become payable to the.....

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Add Emoluments Compulsory Deposit Act 1974 Chapter II

Title: Compulsory Deposit of Additional Emoluments

State: Central

Year: 1974

.....of its provisions shall take effect, either prospectively or retrospectively, on such date, not being a date earlier than the appointed day, as may be specified in this behalf in the scheme and every scheme framed under this section shall have effect notwithstanding anything contained in any law (other than this Act) for the time being in force or in any instrument having effect by virtue of any enactment other than this Act. (4) The Central Government may make a scheme to add to, amend or vary any scheme framed under sub-section M. Section 11 - Rounding off Where the amount of any credit to be made in any Deposit Account contains a part of a rupee, then, such part, if it is fifty paise or more, shall be increased to one complete rupee and if it is less than fifty paise, it shall be ignored.

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Compulsory Deposit Scheme Act 1963 Section 4

Title: Requirement as to Compulsory Deposit

State: Central

Year: 1963

.....of such deposit having been made, reduce the amount of additional surcharge included in the tax to be deducted in accordance with the provisions of section 192 of that Act by a sum which shall be equal to-- (a) the sum so deposited, or (b) the sum calculated in accordance with clause (b) of sub-section (3), whichever is less. (5) Any person falling under clause(b) of section2 who is liable to pay advance tax under the Income-tax under the Income-tax Act in any financial year may make a deposit under this Act in that yearand if he does so, then, notwithstanding anything containedin the Income-tax Act, he shall, on production of proof before the income-tax officer concerned of the fact of such deposit having been made,be entitled to deduction from the additional surcharge included in the advance tax, of a sum which shall be equal to-- (a) the sum so deposited, or (b) the sum calculated in accordance with clause (b) of sub-section (3), Whichever is less. Explanation.--In this sub-section, "advance tax" shall have the same meaning as in section 207 of the Income-tax Act. (6) Where a person falling under clause (d) of section 2 pays in any year any sum,-- (i) to.....

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Deposit Insurance and Credit Guarantee Corporation Act, 1961 Amending Act 2

Title: Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978

State: Central

Year: 1961

.....of 1956, or in any other law forthe time being in force. 8. Amendment of the Deposit Insurance corporation Act, 1961 On the commencement of this Act, the Deposit Insurance Corporation Act, 1961 (47 of 1961), shall have effect subject to the following amendments, namely:-- (1) in the long title, after the words "insurance of deposits", the words "and guaranteeing of credit facilities" shall be inserted; (2) in section 1, in sub-section (1), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (3) in section 2,-- (i) in clause (e), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (ii) after clause (ee), the following clause shall be inserted, namely: -- '(eea) "credit institution" means all or any of the following, namely: -- (i) a banking company; (ii) a corresponding new bank; (iii) a Regional Rural Bank; (iv) a co-operative bank; (v) a financial institution;'; (iii) after clause (hh), the following clause shall be inserted, namely:-- '(hha) "financial institution" means any.....

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Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978 Chapter III

Title: Amendments to the Deposit Insurance Corporation Act, 1961

State: Central

Year: 1978

..... (1) in the long title, after the words "insurance of deposits", the words "and guaranteeing of credit facilities" shall be inserted; (2) in section 1, in sub-section (1), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (3) in section 2,-- (i) in clause (e), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (ii) after clause (ee), the following clause shall be inserted, namely: -- '(eea) "credit institution" means all or any of the following, namely: -- (i) a banking company; (ii) a corresponding new bank; (iii) a Regional Rural Bank; (iv) a co-operative bank; (v) a financial institution;'; (iii) after clause (hh), the following clause shall be inserted, namely:-- '(hha) "financial institution" means any financial institution within the meaning of clause (c) of section 451 of the Reserve Bank of India Act, 1934 (2 of 1934); (4) in section 3, after sub-section (1), the following sub-section shall be inserted, namely: -- "(1A) Any reference in this Act to the Deposit.....

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Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978 Section 8

Title: Amendment of the Deposit Insurance Corporation Act, 1961

State: Central

Year: 1978

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Deposit Insurance and Credit Guarantee Corporation Act, 1961 Amending Act 1

Title: Deposit Insurance Corporation (Amendment) Act, 1968

State: Central

Year: 1961

.....(AMENDMENT) ACT.1968 [Act, No. 56 of 1968] [27th December, 1968] PREAMBLE An Act further to amend the Deposit Insurance Corporation Act, 1961. BE it enacted by Parliament in the Nineteenth year of the Republic of India as follows;-- 1. Short title, commencement, etc.- (1)This Act may be called the Deposit Insurance Corporation (Amendment) Act , 1968 (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and for different States or for different parts thereof. (3) Any reference in any provision inserted in the Deposit Insurance Corporation Act, 1961 (hereinafter referred to as the principal Act).by any section of this Act to the commencement of the Deposit Insurance (Amendment) Act, 1968, shall in relation to the date on which the said section comes into force in that State or part. 2. Substitution of references to Banking Companies Act, 1949.- In the principal Act, for the words and figures "the Banking Companies Act 1949", wherever they occur, the words and figures "the Banking Regulation Act 1949" shall be.....

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