Important features of Banking Ombudsman : The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services. All […]
Banking Law - 2. page
THE CONSUMER PROTECTION ACT, 1986
THE CONSUMER PROTECTION ACT, 1986 : To protect the interests of the consumers, the Consumer Protection Act was enacted. The Act extends to the whole of India except the State of […]
Introduction on Banker – Customer Relationship
Introduction on Banker – Customer Relationship : The relationship between a banker and his customer depends upon the nature of service provided by a banker. Accepting deposits and lending and/or investing are […]
MEANING OF A BANKING COMPANY
MEANING OF A BANKING COMPANY : A banking company is defined as a company which transacts the business of banking in India . Section 5 (b) of The Banking Regulation Act, […]
BANKING OMBUDSMAN
BANKING OMBUDSMAN : Banking Ombudsman Service is a grievance redressal system. This service is available for complaints against a bank’s deficiency of service. A bank’s customer can submit complaint against the […]
Some important terms covered under the SARFAESI Act
Some important terms covered under the SARFAESI Act : (1) Bank: All the banking companies, Nationalised banks, the State Bank of India and its subsidiary banks, Regional Rural Banks, co-operative banks […]
Securitization
Securitization : Securitization is the process of acquisition of financial asset by the securitization or reconstruction company from the lender (bank or financial institution) The reconstruction or securitization company may be […]
Asset Reconstruction Company
Asset Reconstruction Company : An asset reconstruction company’s role is to takeover loans or advances from the bank or financial institution for the purpose of recovery. In other words any securitization […]
Enforcement of Security Interest
Enforcement of Security Interest : The ‘Enforcement of security interest’ is important for recovery of the bank’s bad loans. The special feature of the Act is that the security interest can […]
LENDERS LIABILITY ACT
LENDERS LIABILITY ACT : In India, the SARFAESI Act. was enacted in 2002. On the basis of the recommendations of the working group on Lenders’ Liability Laws constituted by the Government […]