State Bank - Law Dictionary Search Results
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bank
bank : an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds branch bank : a banking facility that is a separate but dependent part of a chartered bank ;esp : a facility that performs some banking functions and is separate from a main office bridge bank : a national bank that is chartered for a limited time to operate an insolvent bank until it is sold central bank : a national bank that establishes monetary and fiscal policy and controls the money supply and interest rate collecting bank : a bank other than the payor bank that is handling for collection a negotiable instrument or a promise or order to pay money commercial bank : a bank organized chiefly to handle the everyday financial transactions of businesses (as through deposit accounts and commercial loans) cooperative bank : an association (as a credit union) owned by and offering banking services for its members ;specif : savings and ...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
Public sector bank
Public sector bank, means the State Bank of India constituted under the State Bank of India Act, 1955, a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959, a corres-ponding new bank constituted under s. 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or under s. 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act 1980. [Small Industries Development Bank of India Act, 1989, s. 2 (la)]. See also State Financial Corporation Act, 1951....
Banking company
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949)...
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
Court
Court, compensation officer appointed under (English) Bihar Land Reforms Act, 1950 is not a 'Court' within the meaning of s. 195(1)(b) of the Code of Criminal Procedure Code 1973, Keshab Moroyan Banerjee v. State of Bihar, AIR 2000 SC 485 (490). [Bihar Land Reforms Act (30 of 1950), s. 19]Court, means the principle civil court of original jurisdiction in a district and including the High Court in exercise of the ordinary original civil jurisdiction, having jursidiction to decide the questions forming the subject matter of suit, but does not incude any civil court of a grade inferior to such civil court or any court of small causes.S. 2(*) Arbitration and Conciliation Act, 1996, Raipur Development Authority v. Sarin Construction Company, Raipur, AIR 2006 Chattisgarh 12.The tribunal which is to exercise the jurisdiction for executing the decree in question is 'a court' within the scope of s. 45C of the Banking Companies Act, Ram Narain v. Simla Banking and Industrial Co. Ltd., AIR 1956 S...
Multi-State co-operative bank
Multi-State co-operative bank, means a Multi-State Co-operative Society which in primary co-operative bank [Banking Regulations, Act, 1949 (10 of 1949), s. 5 (cciiia)]...
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....
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....
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