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Laws of Banking Negotiable Instruments An Introduction Reprint

Laws of Banking Negotiable Instruments An Introduction Reprint

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Book Information

Publisher:Eastern Book Company
Published In:2010
Binding Type:Paperback
Weight:1.38 lbs
Pages:lxvii + 333 + 14 + [ii] Pages, Index, Appendix

is written by Avtar Singh. The publisher of this title is Eastern Book Company.

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About the Book

The Law of Banking is comprised of many branches of law. The statutory content of the subject is also to be found in many Acts, the Banking Regulation Act and Negotiable Instruments Act being primary among them. The Contract Act also applies because every relationship is founded upon contract. The Chapter of the Contract Act on pledge is of particular application because pledge is a method of securing repayment of loans. The Transfer of Property Act also applies because the provisions as to mortgages are to be found in this Act. These are but some examples.

Apart from this, banking services fall under the Consumer Protection also. No study of this subject can be complete without taking into account consumer cases on banks. A special chapter has been provided in the book on such cases.

The Negotiable Instruments Act was amended in the year 2002. Some new sections were inserted in relation to the liability for dishonour of cheques. A Few other amendments became necessary because of the developments in the electronic field, for example, new provisions deal with truncated cheques, electronic image of a cheque, asymmetric crypto system, print out of electronic image, etc. The highlight of The Changes has been provided in the Appendix.

On the judicial front, some of the developments have been as follows: the difference between accepting an instrument as an absolute or conditional payment has been noted. The decisions on criminal liability for dishonour of cheques have made A Good contribution to the frontiers of the subject; like the effect of a guarantor's cheque, renewal of cheque, when corporate officers can be held liable, when complaints can be quashed, what sentence and fine would be appropriate. A Kerala decision recognises the courts at the creditor's s place as proper jurisdiction.

Contents

National Bank for Agriculture nk-for-Agriculture-and-Rural-Development" Title="National-Bank-for-Agriculture-and-Rural-Development">National Bank for Agriculture and Rural Development f Banks :
1. Origin
2. Nationalization of Banks :
i. Object
ii. Constitution of Board of Directors
iii. Appointment of Representative of Non-workmen Employees to Board of Directors
iv. Banking Ombudsman

3. Nationalized Banks as Corporations :
i. Conduct Expected of Bank Employees/Officers
ii. Criminal Prosecution of Bank Employee
iii. Misconduct
iv. Recovery from Employee
v. Banks Are Establishments

4. Types of Banks :
i. Commercial Banks
ii. Public Sector Banks
iii. New Private Banks
iv. Local Area Banks
v. Regional Rural Banks
vi. Cooperative Banks
vii. Difference Between Commercial and Cooperative Banks
viii. Industrial Development Bank of India (IDBI)
ix. Life Insurance Corporation of India (LIC)
x. General Insurance Corporation of India (GIC)
xi. Unit Trust of India (UTI)
xii. Export Import Bank of India (EXIM Bank)
xiii. National Bank for Agriculture and Rural Development (NABARD)
xiv. National Housing Bank (NHB)
xv. Discount and Finance House of India Ltd. (DFHI)
xvi. Deposit Insurance and Credit Guarantee Corporation (DICGC)
xvii. Export Credit Guarantee Corporation of India Ltd. (ECGC)
xviii. Regional Rural Banks Act, 1976

II. Banks and Banking Business : Banking Regulation Act :
1. Definition of Bank :
i. Who Is Banker

2. Banking Regulation Act :
i. Definitions
ii. Main Provisions of the Act
iii. Acceptance of Deposits from Public
iv. Repayment of Deposits

3. Banking Business [S. 6, BRA]
4. Non-banking Company's Business [S. 6 (2)]
5. Additional Business of Banking Company
6. Banking Services
7. Features of Banker-customer Relationship
8. Relationship and Liability
9. Name of Banking Company [S. 7]
10. Prohibition of trading IS. 8]
11. Disposal of non-banking Assets [S. 9]
12. Restrictions On Employment and Remuneration [S. 10]
i. Disqualifications [S. 10 (1) (i)]

13. Remuneration [S. 10 (1) (b) (ii)
14. Persons who Can Be Appointed to Position of Management [S. 10 (l) (c)]
15. Remuneration
16. Bonus
17. Shall Employ A Person
18. Board of Directors to Include Persons with Professional or Other Experience [S. 10-A] :
i. Duration of term [S. 10-A (2-A)]
ii. Reconstituting Board for fulfilling Requirements [S. 10-A (3)]
iii. Retiring Directors for Reconstituting Board [S. 10-A (4) and (5)]
iv. Saving Clause [sub-s. (8)]

19. Banking Company to Be Managed by wholetime Chairman [S. 10-B] :
i. Chairman On whole Time Basis [sub-s. (1)]
ii. Chairman On Part-time Basis [sub-s. (l-A)

20. Qualification [sub-s. (4)] :
i. Resignation from office [sub-s. (5)]
ii. Continuation in office till Successor found [sub-s. (5-A)]
iii. Removal of Person not fit and Proper [sub-s. (6)]

21. Power of the Reserve Bank to Appoint Chairman of Banking Company [S. 10-BB]
22. Holding of qualification Shares [S. 10-C]
23. Compensation for Loss of office [S. 10-D]
24. Minimum Paid-up Capital and Reserves [S. 11] :
i. No Business without Compliance of Requirement as to Capital and Reserves [sub-s. (1)] :
a. Foreign Banking Company [sub-s. (2)]

ii. Other Banking Companies [sub-s. (3)] :
a. Deposits of Foreign Company Security for Creditors [sub-s. (4)]
b. Place of Business [sub-s. (5) (a)]
c. Aggregate Value [sub-s. (5) (6)]

iii. Dispute as to Aggregate value [sub-s. (6)]

25. Regulation of Capital :
i. Regulation of Paid-up Capital, Subscribed Capital, Authorized Capital and voting Rights [S. 12] :
a. Capital Requirement [sub-s. (1)] :
(i). Subscribed Capital

b. Voting Rights [sub-s. (2)]
c. Immunity to Shareholder from questioning title [sub-s. (3)]
d. Disclosure of Shareholding by Chairman, Managing Director, Chief Executive officer [sub-s. (4)]

26. Election of New Directors [S. 12-A] :
i. Election At Asking of Reserve Bank [sub-s. (1)]

27. Restriction On Commission On Sale of Shares [S. 13]
28. Prohibition On Charge On Unpaid Capital [S. 14]
29. Prohibition of Floating Charge On Assets [S. 14-A] :
i. Appeal Against Refusal Certificate [sub-s. (3)]

30. Restrictions On Payment of Dividend [S. 15] :
i. Depreciation and Bad Debts [sub-s. (2)]

31. Prohibition of Common Directors [S. 16]
32. Reserve Fund [S. 17] :
i. Appropriation from the Reserve Fund to Share Premium Account [sub-s. (2)]
ii. Reserve

33. Cash Reserve [S. 18] :
i. Explanation [sub-s. (1)]
ii. Reserve Bank May Specify transactions to Be Regarded Liabilities [sub-s. (4)]

34. Restriction On Nature of Subsidiary Companies [S. 19] :
i. Purposes for which Subsidiary Can Be formed [sub-s. (1)]
ii. Restriction On Shareholding Percentage [sub-s. (2)]
iii. No holding of Shares in Company in which MD or Manager Concerned [sub-s. (3)]
iv. Restrictions On Loans and Advances [S. 20]
v. Explanation [sub-s. (4)] :
a. Loan or Advances

vi. Decision upon nature of Loan transaction [sub-s. (5)]

35. Restrictions On Powers to Remit Debts [S. 20-A]
36. Power of Reserve Bank to Control Advances [S. 21] :
i. Determination of Policy in Respect of Advances [sub-s. (1)]
ii. Directions as to Advances without Laying Down Any Policy [sub-s. (2)] :
a. Appropriation from general Reserves

iii. Rate of Interest [S. 21 -A]
iv. Credit Card Facility [Ss. 20,21,21-A]

37. No Court Scrutiny of Rates of Interest [S. 21-A] :
i. Nationalised Bank : State[S. 21-A]

38. Licensing of Banking Companies [S. 22] :
i. Licence to Be Issued by Reserve Bank [sub-s. (1)]
ii. Conditions to Be fulfilled [sub-s. (3)]
iii. Licence to Company Incorporated Outside India [sub-s. (3-A)]
iv. Cancellation of Licence [sub-s. (4)]

39. Opening of New Branches and Transfer of Existing Ones [S. 23] :
i. Temporary Branch
ii. Conditions for granting Permission [sub-s. (2)]
iii. Revocation of Permission [sub-s. (4)]
iv. Permission to Regional Rural Bank [sub-s. (4-A)]
v. Place of Business [sub-s. (5)]
vi. Maintenance of Percentage of Assets [S. 24] :
a. Twenty Percent of Demand and time Liabilities [sub-s. (1)]
b. Computation of Amount [sub-s. (2)]
c. Maintenance of Assets by Scheduled Bank [sub-s. (2-A)]

vii. Monthly Return [sub-s. (3)]
viii. Failure in Maintaining Requisite Percentage [sub-s. (4)]
ix. Daily Report [sub-s. (5)]
x. Time for Payment of Penalty [sub-s. (6)]
xi. Punishment of Persons Incharge [sub-s. (7)]
xii. Waiver of Penal Interest [sub-s. (8)]

40. Assets in India [S. 25] :
i. Twenty-five Per Cent of Demand and time Liabilities [sub-s. (1)]

41. Return of Unclaimed Deposits [S. 26] :
i. Accounts not Operated upon for ten years [sub-s. (1)]

42. Monthly Returns, Power to Call for Other Returns and Information [S. 27] :
i. Monthly Returns [sub-s. (1)]
ii. Other Statements and Information [sub-s. (2)]

43. Power to Publish Information [S. 28]
44. Accounts and Balance Sheet [S. 29] :
i. Balance Sheet and Profit & Loss Account [sub-s. (1)]
ii. Authentication of Accounts [sub-s. (2)]
iii. Application of Part I of Schedule VI of Companies Act [sub-s. (3)]. 43
iv. Amendment of Forms [sub-s. (4)]

45. Audit [S. 30] :
i. Audit by Persons qualified to Be Company Auditors [sub-s. (1)]
ii. Reserve Bank Approval for Appointment, Etc. [S. 30 (1-A)]
ii. Special Audit [sub-s. (l-B)]
iv. Powers of Special Auditor [sub-s. (2)]
v. Matters On which Report Required [sub-s. (3)]

46. Submission of Returns [S. 31]
47. Copies of Balance Sheets and Accounts to Be Sent to Registrar [S. 32] :
i. Additional Information in Connection with Balance Sheets and Accounts [Sub-s. (2)]

48. Display of Audited Balance Sheet by Foreign Companies [S. 33] :
i. Accounting Provisions not Retrospective [S. 34]

49. Production of Documents of Confidential nature [S. 34-A]
50. Inspection [S. 35] :
i. Inspection of Banking Company and Its Books of Account [sub-s. (1)]
ii. Scrutiny of Affairs, Books and Accounts of Banking Company [sub-s. (1-A)]
iii. Duty to Produce Books, Etc. to Inquiry officer [S. 35 (2)]
iv. Report to Central Government [sub-s. (4)]
v. Publication of Report [sub-s. (5)]
vi. Exercise of Powers under Section by National Bank [sub-s. (6)]

51. Power of Reserve Bank to give Directions [S. 35-A] :
i. Suspension of Board of Directors [S. 35-A]
ii. Previous Approval for Alteration of terms and Conditions Relating to Managing Director Etc. [S. 35-B]
iii. Validity of Acts, not Affected [sub-s. (3)]

52. Further Powers and functions of Reserve Bank [S. 36] :
i. Annual Report to Central Government On trend and Progress of Banking [sub-s. (2)]
ii. Appointment of Staff for Scrutiny of Returns, Etc. [sub-s. (3)]

53. Exemption of Certain Banking Companies [S. 36-A] :
i. Certain Provisions not to Apply to Certain Banking Companies [sub-s. (1)]
ii. Cessation of Being Banking Company [sub-s. (2)]
iii. Position of RBI vis-a-vis Bank Defaults
iv. RBI's Power to "caution or Prohibit", "give Advice" to Banking Companies [Ss. 36 (l) (a), 21,35-A]

A. Control Over Management :
1. Power to Remove Managerial Personnel [S. 36-AA] :
i. Removal of Managerial Personnel and Other Persons[sub-s. (1)]
ii. Reasonable Opportunity of Being heard [sub-s. (2)] :
a. Restraint upon Acting as officer

iii. Appeal Against Order and Its finality [sub-s. (3)]
iv. Disqualification from Banking Management [sub-s. (4)]
v. Penalty for Contravention of Orders [sub-s. (5)]
vi. Appointment of Suitable Person [sub-s. (6)]
vii. No Compensation for Removal [sub-s. (8)]

2. Additional Directors [S, 36-AB] :
i. Power to Reserve Bank to Appoint Additional Directors [sub-s. (1)]
ii. Tenure and terms of Appointment [sub-s. (2)]
iii. Additional Directors not to Be Counted for Reckoning Proportions [sub-s. (3)]
iv. Part II-A to Override Other Laws [S. 36-AC]

B. Prohibition of Certain Activities in Relation to Banking Company :
1. Punishment for Certain Activities in Relation to Banking Company [S. 36-AD]

C. Acquisition of undertakings of Banking Companies in Certain Cases :
1. Power of Central Government to Acquire undertakings [S. 36-AE] :
i. State of Bad Management [sub-s. (1)]
ii. Transfer of Assets and Liabilities [sub-s. (2)]
iii. Government May Order vesting in A transferee Bank [sub-s. (4)]]
iv. Pending Proceedings [sub-s. (7)]
v. Promotional Role of Reserve Bank
vi. Organisation of Reserve Bank
vii. Reserve Bank and Commercial Banks
a. Selective Credit Control
b. Quantitative Control of Credit :
(i). Bank Rate
(ii). Open Market Operations
(iii). Variable Cash Reserve Requirements

viii. Issue of Credit Policy for Banking Companies
ix. Reserve Bank as Banker to Scheduled Banks
x. Safeguarding Depositors
xi. Power to Accord Licenses to Banking Companies

2. Power of Central Government to Make Scheme [S. 36-AE] :
i. Consultation with Reserve Bank[sub-s. (1)]
ii. Matters for which Scheme May Provide [sub-s. (2)]
iii. Amendment of Scheme [sub-s. (3)]
iv. Publication in official Gazette [sub-s. (5)]
v. Laying Copies Before Each House of Parliament [sub-s. (5)]
vi. Non-obstante Clause[sub-s. (6)]
vii. Binding force of Scheme [sub-s. (7)]

3. Compensation to Shareholders or to Acquired Bank [S. 36-AG] :
i. Compensation to Shareholders or to foreign Acquired Bank [sub-s. (1)]
ii. Rights and Interests of Others in Shares [sub-s. (2)]
iii. Working Out of Compensation [sub-s. (3)]
iv. Aggrieved Party's Right for Reference to Tribunal [sub-s. (4)]
v. Request by given Percentage of Shareholders [sub-s. (5)]
vi. Where no Request Received [sub-s. (7)]

4. Constitution of Tribunal [S. 36-AH] :
i. Tribunal to have Powers of Civil Court [S. 30-All}
ii. Procedure of Tribunal [S. 36-A]

C. Suspension of Business and Winding up of Banking Companies :
1. Jurisdiction of High Court [S. 36-B]
2. Moratorium, Suspension of Business and Stay of Proceedings IS. 36-B]
3. Appointment of Special officer [sub-s. (3)]
4. Order of winding up [sub-section (4)]
5. Winding up by High Court [S. 38]
6. On Application by Reserve Bank [sub-s. (3)]
7. Deemed Inability to Pay Debts [sub-s. (4)]
8. Court Liquidator [S. 38-A]
9. Reserve Bank to Be official Liquidator [S. 39]
10. Application of Companies Act to Liquidators [S. 39-A]
11. Stay of Proceedings [S. 40]
12. Preliminary Report by official Liquidator [S. 41]
13. Notice to Preferential Claimant, Secured and unsecured Creditors [S.41-A]
14. Power to Dispense with Meetings of Creditors [S. 42]
15. Booked Creditors' Credits Deemed to Be Proved [S. 43]
16. Preferential Payments to Depositors [S. 43-A]
17. Power of High Court in voluntary winding up [S. 44]
18. Procedure for Amalgamation of Banking Companies [S. 44-A]
19. Paying Out Dissenting Shareholders [sub-s. (3)]
20. Scheme Binding After Reserve Bank Sanction [sub-s. (4)]
21. Transfer of Assets and Liabilities [sub-s. (6)]
22. Dissolution of Amalgamated Banking Company [sub-s. 6-A]
23. Order of Sanction as Conclusive Evidence (sub-s. (6-C)]
24. Amalgamation in national Interest [sub-s. (7)]
25. Restriction On Compromise or Arrangement Between Company and Creditors [S. 44-B]
26. Reconstitution or Amalgamation :
i. Power of Reserve Bank to Apply to Central Government for Reconstitution or Amalgamation [S. 45] :
a. Order of Moratorium [sub-s. (1)]
b. Grant of Moratorium for Maximum Period of Six Months [sub-s. (2)]
c. Opportunity of Being heard
d. Stoppage of Payments by Banking Company [sub-s. (3)]

ii. Proposal for Reconstruction or Amalgamation [sub-s. (4) & (5)]
iii. Binding force of the Scheme [sub-s. (8)]
iv. Scheme of Amalgamation [S. 45 (7)]

D. Special Provisions for Speedy Disposal of winding up Proceedings :
1. Overriding of Other Laws [S. 45-A]
2. Power of High Court to Decide All Claims in Respect of Banking Companies [S. 45-B]
3. Transfer of Pending Proceedings [S. 45-C]
4. Settlement of List of Debtors [S. 45-D]
5. Assets under Pledge
6. Special Provisions for Making Calls On Contributories [S. 45-E]
7. Documents of Banking Companies to Be Evidence [S. 45-F]
8. Public Examination of Director and Auditors [S. 45-G]
9. Special Provisions for Assessing Damages Against Delinquent Directors, Etc, (Misfeasance Proceedings) [S. 45-H]
10. Duty of Directors and officers to Assist Realisation of Property [S. 45-I]
11. Special Provisions for Punishing offences [S. 45-]
12. Power of High Court to Enforce Schemes of Arrangement[S. 45-K]
13. Public Examination of Directors, Etc under Schemes of Arrangement [S.45-L]
14. Appeals [S. 45-N]
15. Special Period of Limitation [S. 45-O]
16. Reserve Bank to tender Advice in winding up Proceedings [S. 45-P]
17. Power of Inspection [S. 45-Q]
18. Power to Call for Returns and Information [S. 45-R]
19. Magisterial Assistance in taking Charge of Property [S. 45-S]
20. Enforcement of Orders and Decisions of High Court [S. 45-1]
21. Power of High Court to Make Rules [S. 45-U]
22. References to Directors, Etc to Be Construed as Including Reference to Past Directors, Etc. [S. 45-V]
23. Part II not to Apply to Banking Companies Being wound up [S. 45-W]
24. Validity of Proceedings [S. 45-X]

E. Provisions Relating to Certain Operations as Banking Companies :
1. Power of Central Government to Make Rules for Preservation of Records [S. 45-Y]
2. Return of Paid Instruments to Customers [S. 45-Z]
3. Joint Fixed Deposit, Either or Survivor
4. Nomination for Payment of Depositor's Money [S. 45-ZA]
5. Notice to Bank by Other Claimants not Receivable [S. 45-ZB]
6. Nomination for Return of Articles kept in Safe Custody [S. 45-ZC]
7. Notice of Claim of Other Persons Is not Receivable [S. 45-ZD]
8. Release of Contents of Safety Lockers [S. 45-ZB] Nomination
9. Notice of Other Persons Regarding Locker not Receivable [S. 45-ZP]
10. Liability in Respect of Articles :
i. Bank Locker

F. Miscellaneous :
1. Penalties [S. 46] :
i. Submission of False Statements [sub-s. (1)]
ii. Failure to Produce Documents Etc. [sub-s. (2)]
iii. Acceptance of Deposits in Contravention of Orders [sub-s. (3)]
iv. Contravention of Provisions or Defaults under the Act [sub-s. (4)]
v. Contravention or Default by Company [sub-s. (5)]
vi. Persons Involved with Consent or Connivance [sub-s. (6)]

2. Chairman, Directors, Etc. to Be Public Servants [S. 46-A]
3. Cognizance of offences [S. 47]
4. Power of Reserve Bank to Impose Penalty [S. 47-A] :
i. Opportunity of Being heard About the Amount [sub-s. (2)]

5. Application of fines [S. 48]
6. Special Provisions for Private Banking Companies [S. 49]
7. Restrictions On Acceptance of Deposits withdrawable by Cheque [S.49-A]
8. Change of name by Banking Company[S. 49-B]
9. Damages for unjustified Dishonour of Cheque [Ss. 49-A, 52-BRA]
10. Alteration of Memorandum of Banking Company [S. 49-C]
11. Barring of Compensation Claims [S. 50]
12. Power of Central Government to Make Rules [S. 52]
13. Power of Exemption [S. 53]
14. Protection of Action taken under the Act [S. 54]
15. Amendment of Reserve Bank of India Act [S. 55]
16. Power to Remove Difficulties [S. 55-A]
17. Recovery of Debt from guarantor
18. Interest On Loans
19. Liability under Letters of Credit
20. Agricultural Loan, Statement of Account
21. Crediting Account without Request for Overdraft [S. 20]
22. Cooperative Bank, not State
23. Loan transactions, no Interference by Court
24. Reconstruction [S. 35-A]
25. Freezing of fixed Deposits by Income Tax Authorities
26. One time Settlement[Ss. 36 and 46] :
i. One-time Settlement, not Applicable when Decree Passed

27. Cooperative Bank, Range of Business
28. Cooperative Bank
29. Bankers Books Evidence Act
30. Rate of Interest On Credit Card
31. Joint term Deposit
32. Cash Credit Limits
33. Fixed Deposit Amount as trust Amount
34. Cheque handed Over to Employee Outside Bank, no Liability of Bank
35. Collection of Cheques, Duty to follow Customer's Instructions
36. Entry in Pass Book
37. Interim Relief in Connection with forgery
38. Forged Signature Is no Mandate, Bank Becomes Liable for negligence
39. Duty of Bank to Pay
40. Unauthorised transfer from Customer's Account
41. Deposit, Relationship of Debtor and Creditor, not generally of trust
42. Deposit, when Amounts to Loan
43. Joint Deposits
44. Bank as Purchaser of Discounted Bill
45. Interest :
i. Interest with Quarterly Rests Only On Commercial Purpose Loans
ii. Interest On Mortgage Debt
iii. Rate and Manner of Calculation

46. Opening of Account :
i. Nature of Hank's Obligation
ii. Negligence in Opening Account, test to Determine

47. Recovery of Bank Loans
48. Recovery of Loan, Scaling Down of Debt
49. Appropriation of Payments :
i. Appropriation by Debtor
ii. Appropriation by Creditor
iii. Appropriation by Law

50. Exercise of Lien for Recovery though Debt time-barred
51. Right of Bank to Adopt two Modes of Recovery Simultaneously
52. Surety Bond

Mutual Obligations :
1. Duty to honour Customer's Cheques
2. Duty in Collection of Cheques and Other Instruments :
i. Protection of Collecting Hanker [S. 1 31] :
a. For Customer
b. as Agent
c. Crossed Cheque
d. Good faith and without Negligence :
(i) Negligence in Opening Account
(ii) Negligence in Verifying Endorsement

3. Duty to follow Rules and Instructions
i. Duty of Promptness in Collection

4. Cheque in Electronic Image
5. Summary of Applicable Principles
6. Collection of Drafts :
i. Burden of Proof
ii. Protection for Bankers Only

7. Head office and Branch Distinct Entities
8. Duty to Supply Account Statements
9. Bank's Duty to Explain Debits Into Customer's Account
10. Closure of Account
11. Duty of Confidentiality
12. Limitation
13. Notice to One Branch, no notice to Other Branches
14. Cash Credit Account :
i. Cash Credit Account Is Current Account

15. Place of Payment when Cheque Dispatched by Post
16. Reserve Bank of India Act Directions Issued By

17. Pages Acceptance of Bills and Payment "under Reserve"
18. Bank Branch
19. Duty to keep Cheque Book with Care
20. Fiduciary Relationship
21. Validity of Restrictions Imposed On Acceptance of Deposits [S. 45-S, RBI Act]
22. Restrictions On Acceptance of Deposits by Individuals, firms or unincorporated Associations
23. Residuary. non-banking. financial. Companies. [RNBC]. , Reserve
24. Bank Directions
25. Role of Reserve Bank of India in Regulation of Country's Economy in the Context of functioning of Residuary non-banking Companies Receiving Deposits [s. 45-K (3), 45-J and 45-1 and Preamble
26. Residuary Non-Banking Companies (Reserve Bank) Directions, 1987-Para 4-A Proviso (as Inserted by Notification Dated 19-4-1993)-Fixing A uniform Maximum Ceiling of Rs. 10 towards Cost or Expenses for Issuing Brochure/application form, Servicing the Depositors' Account Etc. by A Company
27. Directions as to Deposits

III. Customers and Accounts
1. The Customer
2. Denial of Banking Service
3. Banker's Duty to Return goods
4. General Lien [S. 171]
5. Parties Entitled to general Lien :
i. Bankers
ii. Factors

6. Special Customers :
i. Companies
ii. Companies and Corporations
iii. Agency [S. 27, Negotiable Instruments Act]
iv. Partners :
a. Negotiable Instruments

v. Sole Proprietorship Concern
vi. Joint Family
vii. Liability of Agent Signing [S. 28, Negotiable Instruments Act]
viii. Minor and Person of Unsound Mind :
a. Persons of Unsound Mind and Drunken Persons

ix. Liability under Bank Guarantee :
a. Variation in terms of Contract
b. Letters of Credit and hank guarantees

x. Bank Guarantee and Arbitration Clause
xi. Period of Limitation

IV. Responsibility under the Consumer Protection Act :
Banking Service and Consumer Protection Act :
1. Complex questions of Law and fact
2. Payment of Cheque Despite Stop notice
3. Duty to honour Cheques
4. Collection of Cheques, Etc
5. Duty to Inform Customer If Cheque Returned
6. Loss of Cheque Delivered for Collection
7. Bank's Service Charges
8. MICK Cheques
9. Dishonour of Bank Draft, Cheque
10. Withdrawal of Money by Partner
11. Defective Bank Draft
12. Delay in Issuing Duplicate Bank Draft
13. Operation of Individual Account
14. Operation of Deceased Account
15. Delay in Payment of Crossed Cheque
16. Sale by Bank of Pledged Articles
17. Conversion of hypothecation Into Pledge
18. Realisation of Security
19. Duty to Return Security On Payment
20. Diversion of Security to Other Outstandings
21. Duty During Strike Period
22. Banker's Lien
23. Sundry Banking Services
24. Loaning Services
25. Duty to Return Security On failure to Provide Loan
26. Recovery through Debt Recovery Tribunal
27. Recovery through Revenue Authorities
28. Mortgage of joint L-'DR
29. Duty to Provide NOC
30. Interest Rate On Loans
31. Interest On Deposits
32. Unauthorized Deduction
33. Misconduct of Lending Authority
34. Administrative Charges On Loaning
35. Reversal of wrong Entry
36. Writing off Agricultural Loans
37. Recall of Loan : No Duty of Lending Bank to Insure hypothecated goods
38. Mutual Settlement
39. Locker
40. Complication About Locker
41. Forgery of Signature
42. Encashment of Bank guarantee and Letter of Credit
43. Payment of Premium through Bank
44. Improper Delivery of Documents by Bank
45. Suppressing Letters of Credit
46. Credit Card
47. Refusal of Service
48. Cancellation of Credit Card
49. Fixed Deposit Service
50. Current Account Service
51. Claims of Interest
52. Account Is Property, Liability to Seizure

Part B : NEGOTIABLE INSTRUMENTS :
V. Negotiable Instruments :
1. Definition of Negotiable Instruments
2. Kinds of Negotiable Instruments :
i. Promissory note [S. 4]
a. Writing
b. Promise to Pay
c. Unconditional
d. Money Only
e. Certain Parties
f. Signature

ii. Bill of Exchange [S. 5] :
a. Writing
b. Order to Pay
c. Unconditional
d. Money and Money Only
e. Three Parties
f. Indication of Drawee with Reasonable Certainty

iii. Ambiguous Instruments :
g. Signature

iv. Acceptance [S. 7]
v. Cheque [S. 6]
vi. Bill of Exchange and Cheque Compared

3. Holder [S. 8]
4. Holder in Due Course [S. 9] :
i. Consideration
ii. Before Maturity
a. Demand Instruments

iii. Complete and Regular :
a. Post-dated Cheque

iv. Good faith
a. Position in English Common Low
b. "Due Care and Caution" as Test of Good Faith
c. Position of Indian Law
d. Whether Original Payee Can Be Holder in Due Course
e. Rights and Privileges of holder in Due Course
(i). Presumptions [S. 118]
(ii). Privilege Against Inchoate Stamped Instruments [S. 20]
(iii). Fictitious Drawer or Payee [S. 42]
(iv). Prior Dejects [S. 58]
(v). Indorsee from Holder in Due Course[S. 53]

V. Parties :
i. Minor [S. 26]
ii. Corporation [S. 26]
iii. Agency[S. 27]
iv. Legal Representative[S. 29]

VI. Negotiation and Liability :
i. Assignment and negotiation Distinguished
ii. Points of Difference
a. Subject to Equities
b. Notice of Assignment
c. Presumptions

iii. Acceptance of Instrument by Creditor

1. Negotiation by Delivery[Ss. 44 and 47]
2. Negotiation by Indorsement [S. 48]
3. Who May Indorse [S. 51]
4. Kinds of Indorsement :
i. Indorsement in Blank [Ss. 16 and 54]
ii. Indorsement in full [S. 16]
iii. Restrictive Indorsement [S. 50]
iv. Indorsement Sans Recourse [S. 52]
v. Conditional Indorsement [S. 52]
vi. Partial Indorsement [S. 56]

5. Liability of Parties :
i. Liability of Acceptor or Maker [S. 32]
ii. Liability of Drawer [S. 30] :
a. Drawer of Bill
b. Drawer of Cheque [S. 30]

iii. Liability of Drawee of Cheque
iv. Liability for unjustified Dishonour of Cheque [S. 31]
v. When justified in Refusing :
a. Where Cheque Post-dated
b. Where Cheque Outdated
c. When Funds Insufficient
d. When Customer Countermands Payment
e. Where Cheque Mutilated
f. Where Cheque of Doubtful Validity
g. Where Customer's Signature Does not Agree
h. Where Customer has Countermanded Payment
i. Where Customer has Died
j. Where Customer has Become Insolvent
k. Where Customer has Become A Person of Unsound Mind
l. Where Garnishee Order has Been Issued

vi. Criminal Liability of Drawer for Issuing Cheques without fund [Ss. 138-142] :
a. Pre-requisites of Liability [S. 138]
b. Insufficiency of funds
c. Period for Presentment and Notice of Dishonour
d. Liability of Guarantor
e. Repeated Presentments of Cheque
f. Renewal of Cheque
g. Complaint Before Expiry of Period
h. Discharge of Debt or Liability [Ss. 138, 139]
i. Company or Firm, Drawer[S. 141]
j. Deemed Service of Notice
k. Deposit of Money in Court Effect of Pavment within 15 Days of Notice Effect of Genuineness of Signature
l. Complaint to Be by Holder
m. Stop Payment
n. Account Closed
o. Jurisdiction (Cognizance of offences) IS. 142]
p. Quashing of Complaint[S. 482, CrPC]

vii. Summary Trial [S. 143]
viii. Service of Summons [S. 144]
ix. Evidence On Affidavits
x. Evidentiary value of Bank's Slip
xi. Compounding of offences [S. 147]
a. Civil Suit

xii. Raising of Amount
xiii. Forgery of Signature
xiv. Estoppels Against forgery
xv. Forgery in Indorsement [S. 85]
xvi. Travellers' Cheques
xvii. Liability of transferor by Delivery
a. Warranty of genuineness
b. Right to transfer
c. Not to Be valueless within knowledge of transferor

xviii. Position of transferee by Delivery
xix. Liability of Indorscr [S. 35]
xx. Liability under Accommodation Bills [Ss. 43-45] :
a. Instrument without Consideration [S. 43]
b. Partial Absence or failure of Consideration [S. 44]

xxi. Holder's Right to Duplicate [S.45-A]

VII. Presentment :
1. Presentment for Acceptance [S. 61] :
i. Time for Presentment for Sight [S. 62]
ii. Place of Presentment [S. 61]

2. Presentment for Payment (S. 64] :
i. Time for Presentment
ii. Place for Presentment

3. Maturity [Ss. 21-25] :
i. Days of grace [S. 22]
ii. Instruments Payable So Many Months After Date or Sight [S. 23]
iii. Instrument Payable After Some Days [S. 24]

4. Provisions Applicable to Presentment for Acceptance and Payment :
i. Presentment to Agent, Etc. [S. 75]
ii. Delay when Excused
iii. When Presentment unnecessary [S. 76]

VIII. Discharge from Liability :
1. by Cancellation [S. 82]. '. 287
2. by Release [S. 82 (b)]
3. by Payment [S. 82 (r)] :
i. Jurisdiction

4. by Allowing More than 48 hours to Accept [S. 83]
5. by qualified Acceptance [S. 86]
6. by Delay in Presenting Cheque [S. 84]
7. by Material Alteration [Ss. 87,88,89] :
i. Intentional Alteration
ii. Material Alteration
iii. Apparent Alteration [S. 89]
iv. Extinction of Debt [S. 87]

8. by negotiation Back [S. 90]

IX. Crossed Cheques :
1. Kinds of Crossing
i. General Crossing [S. 123]
ii. Special Crossing [S. 124]
iii. Account Pa\ee Onl\
iv. "Not negotiable" Crossing [S. 130]

2. . Who May Cross [S. 125]
i. by Drawer
ii. The holder
iii. The Banker

3. Payment of Crossed Cheques [S. 126]
4. Protection of Collecting Banker [S. 131]
i. For Customer
ii. as Agent
iii. Crossed Cheque
iv. Good Faith and Without Negligence.

X. Miscellaneous Provisions :
Notice of Dishonour :
1. Dishonour by non-acceptance [S. 91]
2. Dishonour by non-payment [S. 92]
i. Mode of giving notice[S. 94]
ii. Duty to transmit ]S. 95]
iii. When Dispensed with [S. 98]

3. Noting [S. 99]
4. Protest[S. 100] :
i. Protest for Better Security [S. 100, Para 2]
ii. Contents of Prolest[S. 1011.
iii. Notice of Protest [S. 102]
iv. Protest of foreign Bills [S. 104]
v. Noting Equivalent to Prolest [S. 104-A]

5. Reasonable time[Ss. 105. 106, 107] :
i. Generally
ii. For notice of Dishonour [S. 106]

6. Acceptance and Payment for Honour :
i. Acceptance for honour [S. 108] :
a. Liabilitv of Acceptor for honour [S. Ill]

ii. Payment for honour[S. 113] :
a. Right of Payer for honour [S. 114]

iii. Drawee in Case of need [S. 115]

7. Compensation [S. 117]
8. Special Rules of Evidence
i. Presumptions ]S. I 18]
a. Presumption as to Consideration
b. Presumption as to Date
c. Time of Acceptance
d. Time of Transfer
e. Order of Indorsements
f. as to Stamp
g. Holder in DuE Course
h. Proof of Protest [S. 119J

8. Estoppels :
i. Against Denial of validity [S.\2V]
ii. Against Denial of Payee's Capacity [S. \2l]
iii. Against Indorser [S. 122]

9. Bills in Sets [S. 132]
10. International Law[Ss. 134-137]
i. Liability On foreign Instruments[S. 134]
ii. Law in Respect of Dishonour[S. 135]
iii. Foreign Instruments Made in Accordance with Indian Law [S. 136)
iv. Presumption as to foreign Law [S. 137]

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