Section 26, Banning of Unregulated Deposit Schemes Act, 2019 [S29-8XF]

As at 6 September 2026. In force from 4 June 2019.

In Banning of Unregulated Deposit Schemes Act, 2019 [A11-PAS]. This text from 4 June 2019. 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, Banning of Unregulated Deposit Schemes Act, 2019 [S29-8XF]. Machine: S29-8XF.

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: Schedule 2, Banning of Unregulated Deposit Schemes Act, 2019 [S2985T] (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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