Section 26, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-5S3]

As at 7 September 2026. In force from 15 January 1948.

In Reserve Bank (Transfer of Public Ownership) Act, 1948 [A10-BS9]. This text from 15 January 1948. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 26, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-5S3]. Machine: S19-5S3.

26. Prohibition of the business of banking without licence.—No person shall undertake the business of banking except under and in accordance with the conditions of a licence granted under section 27: Provided that nothing in this section shall apply to the business of banking undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (1)

banking: Section 2, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S1951P] (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.

Made under this section, or naming it (0)

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Cited by (0)

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Not held (0)

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Duties published under this section (0)

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