Section 16, Forfeited Deposits Act, 1850 [S11-AMA]
As at 6 September 2026. In force from 25 November 1851 by S.O. 2908(E) [N11-7SR].
16. Power to issue directions.—(1) The Reserve Bank may, by order in writing, direct any banking company to take such measures in relation to the business of banking as may be specified in the order, and such person shall comply with the direction within the period specified therein. (2) An order under sub-section (1) shall state the reasons on which it is made and shall be served on the person to whom it is addressed in such manner as may be prescribed.
Defined terms in this text (2)
banking: Section 2, Forfeited Deposits Act, 1850 [S11A6B] (In this Act, unless the context otherwise requires,—): "banking" means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise
banking: 27 more definitions.
Reserve Bank: Section 2, Forfeited Deposits Act, 1850 [S11A6B] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
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