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kotwa

RBI & section 35A BANKING REGULATION ACT

SHOULD RBI BE ALLOWED RESTRICTION ON BANKS UNDER SEC 35A BE GOVERNED BY A TIME FRAME  

  1. 1. SHOULD RBI BE ALLOWED RESTRICTION ON BANKS UNDER SEC 35A BE GOVERNED BY A TIME FRAME

    • Max of 6 Months to be permitted
      0
    • Restrictions not to exceed 12 months
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    • No time limit to be set for RBI
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Question

kotwa

20/10/2009

 

tThe section states ;

 

1*[35A. Power of the Reserve Bank to give directions.-(1) Where the Reserve Bank is satisfied that—:p>:p>

(a) in the 2*[public interest] ; or 3*[(aa) in the interest of banking policy ; or] (b) to prevent the affairs of any banking company being conducted in a manner detrimental to the interests of the depositors or in a manner prejudicial to the interests of the banking company; or © to secure the proper management of any banking company generally; it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit,

 

(1) In my view this does not specifically allow RBI to free depsoitor's Fixed deposits; speciallty those that have matured. My RTI on this isue has got a vague reply. First appeal also got a similar vague answer.

 

Does anyone have any answer to the above?

 

(2) also, Need to know how :

 

(A) To which CIC authority the second appeal is to be filed and the exact (B) The postal address to which this appealk to be sent

© Whether any more fees to paid.

 

Kotwa

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ganpat1956

Can you please upload your RTI application, reply and first appeal to enable our members to grasp the issue fully and give their opinion?

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