Section 38(3)(a) in The Banking Regulation Act, 1949

[Cites 0, Cited by 0] [Section 38(3)] [Section 38] [Entire Act]

Union of India - Subsection

Section 38(3)(a) in The Banking Regulation Act, 1949

(a)if the banking company-

(i)has failed to comply with the requirements specified in section 11; or

(ii)has by reason of the provisions of section 22 become dis entitled to carry on banking business in India; or

(iii)has been prohibited from receiving fresh deposits by an order under clause (a) of sub-section (4) of section 35 or under clause (b) of sub-section (3-A) of section 42 of the Reserve Bank of India Act, 1934 (2 of 1934); or

(iv)having failed to comply with any requirement of this Act other than the requirements laid down in section 11, has continued such failure, or, having contravened any provision of this Act has continued such contravention beyond such period or periods as may be specified in that behalf by the Reserve Bank from time to time, after notice in writing of such failure or contravention has been conveyed to the banking company; or

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Union of India - Subsection

Section 38(3)(a) in The Banking Regulation Act, 1949