Banking - Law Dictionary Search Results
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banking : the business of a bank or banker ...
Non-banking financial company
Non-banking financial company, shall have the same meaning as assigned to it in clause (f) of s. 45-I of the Reserve Bank of India Act, 1934 (2 of 1934). [Prevention of Money Laundering Act, 2002 (15 of 2003), s. 2(1) (q)]...
Confirming bank
Confirming bank, when an issuing bank authorises requests another bank to confirm its irrevocable credit and the latter has added its confirmation, such confirmation constitutes a definite undertaking of such bank ('the confirming bank'), Halsbury's Laws of England, Vol. 3(1), para 262, p. 218....
Development bank
Development bank, 'development bank' means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964). [Export-Import, Bank of India, Act, 1981 (28 of 1981), s. 2(b)]...
High denomination bank note
High denomination bank note, 'high denomination bank note' means a bank note of the denomina-tional value of one thousand rupees, five thousand rupees or ten thousand rupees, issued by the Reserve Bank. [High Denomination Bank Notes (Demonstration) Act, 1978, s. 2(d)]...
Currency and Bank Notes Acts, 1914 and 1928 (English)
Currency and Bank Notes Acts, 1914 and 1928 (English). The 1914 Act and the Amendment Act, 1914 (4 & 5 Geo. 5 Contract Act, 1872 -. 14, 72), wee passed on the outbreak of the war with Germany, to authorize the issue of currency notes, and to make provision with respect to the note issue of banks. Under these Acts the Tresury issued currency notes for 1l., and 10s. repsectively, thenotes beinglegal tender for a payment of any amount. The 1928 Act (18 & 19 Geo. 5, c. 13), repealed the 1914 Acts (except sub-s. (5) of s. 1 and s. 5 of c. 14, enacting that currency notes are to be deemed banknotes, valuable securities and current coin for certain special purposes such as the Forgery (English) Act, 191, the Larceny Act, 1861, and other offences and the (English) Truck Acts. The 1928 Act transferred the currency note issue to the Bank of England and enated that currency notes should be deemed to be banknotes in all enactments relatingto banknotes. The (English) Gold Standard Act, 1925 (15 & 1...
National Bank
National Bank. means the National Bank for Agriculture and Rural Development established under s. 3. [National Bank for Agriculture and Rural Development Bank Act, 1981 (61 of 1981), s. 2 (e); see also Act (2 of 1934), s. 2(ccc)]A private or quasi public corporation, organised under the general law, by individual stockholders, with their own capital, by private gain and managed by officers, agents and employees of their own selection; a quasi-public institution under a sort of State Control....
Bank-book
Bank-book, a small book kept by a bank for a customer, showing the state of his account with it; otherwise termed a 'Pass-book.' A pass-book passing to and from between the bank and a customer is evidence of a stated and settled account, Cunliffe Brooks & Co. v. Blackburn Building Society, (1882) 22 Ch D 61: 9 App Cas 857....
Bank holidays
Bank holidays. Easter Monday, Whit Monday, the first Monday in August, and the 26th December if a weekday, or if it is a Sunday the 27th, or any day appointed by Order in Council in place of one of these, and any day appointed by Royal Proclama-tion in addition to these, is a statutory bank holiday in England, 34 & 35 Vict. c.17; 38 & 39 Vict. c. 13; 45 & 46 Vict. c. 61. R. S. C. 1883, Ord. LXIV. In 1914 on the occasion of the outbreak of the war with Germany the August Bank Holiday was extended by Proclamation to four days. See HOLIDAY....
Bank Rate
Bank Rate. The minimum rate of discount charged for the time being by the Bank of England for discounting, cashing before due date the bills of certain approved mercantile houses. The bank rate is declared usually once a week....
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