Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 4] [Entire Act]

Union of India - Section

Section 26 in Banking Companies Act, 1949

26. Return of unclaimed deposits

:- Every banking company shall, within thirty days after the close of each calendar year, submit a return in the prescribed form and manner to the Reserve Bank as at the end of such calendar year of all accounts {Subs.by Act 20 of 1950, s.3, for ” in the States.} [in India] which have not been operated upon for ten years giving particulars of the deposits standing to the credit of each such account:Provided that in the case of money deposited for a fixed period the said term of ten years shall be reckoned from the date of the expiry of such fixed period.