{"apiVersion":1,"release":"r-2026-09-08-012","packet":{"code":"A11MK6","written":"A11-MK6","title":"Specified Bank Notes (Cessation of Liabilities) Act, 2017","status":"As at 9 September 2026. In force from 28 August 2017.","path":"/A11-MK6","asAt":null,"sha256":null,"blocks":[{"kind":"title","segs":["Specified Bank Notes (Cessation of Liabilities) Act, 2017 [A11-MK6]"]},{"kind":"status","segs":["As at 9 September 2026. ","In force from ","28 August 2017","."]},{"kind":"line","segs":["Dates: made 28 August 2017; in force 28 August 2017; ceased none recorded. Gazette: none recorded. Band A."]},{"kind":"line","segs":["Synthetic. The words of this Act are generated by the register; its title, number and year are real."]},{"kind":"line","segs":["Cite: Specified Bank Notes (Cessation of Liabilities) Act, 2017, Act 2 of 2017 [A11-MK6]. Machine: A11-MK6."]},{"kind":"heading","segs":["Sections (39)"]},{"kind":"item","segs":["Chapter I. PRELIMINARY"]},{"kind":"item","segs":["Chapter II. RESERVE BANK"]},{"kind":"item","segs":["Chapter III. REGULATION OF THE BUSINESS OF BANKING"]},{"kind":"item","segs":["Chapter IV. OFFENCES AND PENALTIES"]},{"kind":"item","segs":["Chapter V. MISCELLANEOUS"]},{"kind":"item","segs":[{"text":"Section 1. Short title, extent and commencement","href":"/S28-285"}," [S28-285]"]},{"kind":"item","segs":[{"text":"Section 2. Definitions","href":"/S28-297"}," [S28-297]"]},{"kind":"item","segs":[{"text":"Section 3. Appointment of Reserve Bank","href":"/S28-2A1"}," [S28-2A1]"]},{"kind":"item","segs":[{"text":"Section 4. Registration of financials institution","href":"/S28-2B3"}," [S28-2B3]"]},{"kind":"item","segs":[{"text":"Section 5. Prohibition of the enforcement of security interest without licence","href":"/S28-2CD"}," [S28-2CD]"]},{"kind":"item","segs":[{"text":"Section 6. Grant of licence","href":"/S28-2DF"}," [S28-2DF]"]},{"kind":"item","segs":[{"text":"Section 7. Maintenance of records and furnishing of returns","href":"/S28-2E9"}," [S28-2E9]"]},{"kind":"item","segs":[{"text":"Section 8. Powers of authorised officer","href":"/S28-2FB"}," [S28-2FB]"]},{"kind":"item","segs":[{"text":"Section 9. Power to issue directions","href":"/S28-2GG"}," [S28-2GG]"]},{"kind":"item","segs":[{"text":"Section 10. Power to exempt","href":"/S28-2HJ"}," [S28-2HJ]"]},{"kind":"item","segs":[{"text":"Section 11. Registration of bankings company","href":"/S28-2JM"}," [S28-2JM]"]},{"kind":"item","segs":[{"text":"Section 12. Prohibition of the borrowing of money without licence","href":"/S28-2KP"}," [S28-2KP]"]},{"kind":"item","segs":[{"text":"Section 13. Grant of licence","href":"/S28-2MR"}," [S28-2MR]"]},{"kind":"item","segs":[{"text":"Section 14. Maintenance of records and furnishing of returns","href":"/S28-2NT"}," [S28-2NT]"]},{"kind":"item","segs":[{"text":"Section 15. Powers of authorised officer","href":"/S28-2PW"}," [S28-2PW]"]},{"kind":"item","segs":[{"text":"Section 16. Power to issue directions","href":"/S28-2QY"}," [S28-2QY]"]},{"kind":"item","segs":[{"text":"Section 17. Power to exempt","href":"/S28-2R0"}," [S28-2R0]"]},{"kind":"item","segs":[{"text":"Section 18. Registration of depositors","href":"/S28-2S2"}," [S28-2S2]"]},{"kind":"item","segs":[{"text":"Section 19. Prohibition of the business of a financial institution without licence","href":"/S28-2T4"}," [S28-2T4]"]},{"kind":"item","segs":[{"text":"Section 20. Grant of licence","href":"/S28-2V6"}," [S28-2V6]"]},{"kind":"item","segs":[{"text":"Section 21. Maintenance of records and furnishing of returns","href":"/S28-2W8"}," [S28-2W8]"]},{"kind":"item","segs":[{"text":"Section 22. Powers of authorised officer","href":"/S28-2XA"}," [S28-2XA]"]},{"kind":"item","segs":[{"text":"Section 23. Power to issue directions","href":"/S28-2YC"}," [S28-2YC]"]},{"kind":"item","segs":[{"text":"Section 24. Power to exempt","href":"/S28-2ZE"}," [S28-2ZE]"]},{"kind":"item","segs":[{"text":"Section 25. Registration of secureds creditor","href":"/S28-30H"}," [S28-30H]"]},{"kind":"item","segs":[{"text":"Section 26. Prohibition of the business of banking without licence","href":"/S28-31K"}," [S28-31K]"]},{"kind":"item","segs":[{"text":"Section 27. Grant of licence","href":"/S28-32N"}," [S28-32N]"]},{"kind":"item","segs":[{"text":"Section 28. Maintenance of records and furnishing of returns","href":"/S28-33Q"}," [S28-33Q]"]},{"kind":"item","segs":[{"text":"Section 29. Powers of authorised officer","href":"/S28-34S"}," [S28-34S]"]},{"kind":"item","segs":[{"text":"Section 30. Power to issue directions","href":"/S28-35V"}," [S28-35V]"]},{"kind":"item","segs":[{"text":"Section 31. Power to exempt","href":"/S28-36X"}," [S28-36X]"]},{"kind":"item","segs":[{"text":"Section 32. Registration of borrowers","href":"/S28-37Z"}," [S28-37Z]"]},{"kind":"item","segs":[{"text":"Section 33. Penalty for contravention","href":"/S28-381"}," [S28-381]"]},{"kind":"item","segs":[{"text":"Section 34. Offences by companies","href":"/S28-393"}," [S28-393]"]},{"kind":"item","segs":[{"text":"Section 35. Appeal","href":"/S28-3A5"}," [S28-3A5]"]},{"kind":"item","segs":[{"text":"Section 36. Cognizance of offences","href":"/S28-3B7"}," [S28-3B7]"]},{"kind":"item","segs":[{"text":"Section 37. Protection of action taken in good faith","href":"/S28-3C9"}," [S28-3C9]"]},{"kind":"item","segs":[{"text":"Section 38. Power to make rules","href":"/S28-3DB"}," [S28-3DB]"]},{"kind":"item","segs":[{"text":"Section 39. Power to remove difficulties","href":"/S28-3ED"}," [S28-3ED]"]},{"kind":"heading","segs":["Made under"]},{"kind":"item","segs":["No recital of a power is printed."]},{"kind":"heading","segs":["Acts on (0)"]},{"kind":"item","segs":["none"]},{"kind":"heading","segs":["Acted on by (4)"]},{"kind":"item","segs":["Amends: ",{"text":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2022","href":"/A11-SV7"},", 23 August 2022",". \"section 35 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017)\"."," Synthetic demonstration target."]},{"kind":"item","segs":["Amends: ",{"text":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2023","href":"/A11-TSF"},", 9 June 2023",". \"section 33 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017)\"."," Synthetic demonstration target."]},{"kind":"item","segs":["Exempts: ",{"text":"Notification S.O. 637(E), dated 24th May, 2021","href":"/N12-KYM"},", 24 May 2021",". \"section 4 of the said Act\"."," Synthetic demonstration target."]},{"kind":"item","segs":["Amends: ",{"text":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2020","href":"/A11-QXP"},", 20 November 2020",". \"section 35 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017)\"."," Synthetic demonstration target."]},{"kind":"heading","segs":["Not held (1)"]},{"kind":"item","segs":["\"section 3 of the Reserve Bank of India Act, 1934\""]}],"connections":[{"title":"Section 1. Short title, extent and commencement.","path":"/S28-285","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 2. Definitions.","path":"/S28-297","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 3. Appointment of Reserve Bank.","path":"/S28-2A1","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 4. Registration of financials institution.","path":"/S28-2B3","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 5. Prohibition of the enforcement of security interest without licence.","path":"/S28-2CD","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 6. Grant of licence.","path":"/S28-2DF","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 7. Maintenance of records and furnishing of returns.","path":"/S28-2E9","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 8. Powers of authorised officer.","path":"/S28-2FB","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 9. Power to issue directions.","path":"/S28-2GG","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 10. Power to exempt.","path":"/S28-2HJ","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 11. Registration of bankings company.","path":"/S28-2JM","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 12. Prohibition of the borrowing of money without licence.","path":"/S28-2KP","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 13. Grant of licence.","path":"/S28-2MR","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 14. Maintenance of records and furnishing of returns.","path":"/S28-2NT","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 15. Powers of authorised officer.","path":"/S28-2PW","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 16. Power to issue directions.","path":"/S28-2QY","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 17. Power to exempt.","path":"/S28-2R0","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 18. Registration of depositors.","path":"/S28-2S2","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 19. Prohibition of the business of a financial institution without licence.","path":"/S28-2T4","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 20. Grant of licence.","path":"/S28-2V6","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 21. Maintenance of records and furnishing of returns.","path":"/S28-2W8","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 22. Powers of authorised officer.","path":"/S28-2XA","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 23. Power to issue directions.","path":"/S28-2YC","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 24. Power to exempt.","path":"/S28-2ZE","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 25. Registration of secureds creditor.","path":"/S28-30H","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 26. Prohibition of the business of banking without licence.","path":"/S28-31K","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 27. Grant of licence.","path":"/S28-32N","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 28. Maintenance of records and furnishing of returns.","path":"/S28-33Q","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 29. Powers of authorised officer.","path":"/S28-34S","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 30. Power to issue directions.","path":"/S28-35V","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 31. Power to exempt.","path":"/S28-36X","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 32. Registration of borrowers.","path":"/S28-37Z","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 33. Penalty for contravention.","path":"/S28-381","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 34. Offences by companies.","path":"/S28-393","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 35. Appeal.","path":"/S28-3A5","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 36. Cognizance of offences.","path":"/S28-3B7","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 37. Protection of action taken in good faith.","path":"/S28-3C9","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 38. Power to make rules.","path":"/S28-3DB","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 39. Power to remove difficulties.","path":"/S28-3ED","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2022","path":"/A11-SV7","relation":"relationship","description":"Recorded relationship: amends. The linked source is recorded as acting on this document. Inspect the operative text; this is not an applicability finding.","synthetic":true,"effectiveDate":"2022-08-23","recordedEffect":{"type":"amends","direction":"incoming","target":"instrument"}},{"title":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2023","path":"/A11-TSF","relation":"relationship","description":"Recorded relationship: amends. The linked source is recorded as acting on this document. Inspect the operative text; this is not an applicability finding.","synthetic":true,"effectiveDate":"2023-06-09","recordedEffect":{"type":"amends","direction":"incoming","target":"instrument"}},{"title":"Notification S.O. 637(E), dated 24th May, 2021","path":"/N12-KYM","relation":"relationship","description":"Recorded relationship: exempts. The linked source is recorded as acting on this document. Inspect the operative text; this is not an applicability finding.","synthetic":true,"effectiveDate":"2021-05-24","recordedEffect":{"type":"exempts","direction":"incoming","target":"instrument"}},{"title":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2020","path":"/A11-QXP","relation":"relationship","description":"Recorded relationship: amends. The linked source is recorded as acting on this document. Inspect the operative text; this is not an applicability finding.","synthetic":true,"effectiveDate":"2020-11-20","recordedEffect":{"type":"amends","direction":"incoming","target":"instrument"}}],"connectionsTruncated":false,"synthetic":true,"source":{"synthetic":true,"textState":"arrangement","version":null,"versions":[]},"particulars":[{"label":"Class","value":"Act of Parliament"},{"label":"Citation","value":"Act 2 of 2017"},{"label":"Number","value":"2 of 2017"},{"label":"Authority","value":"Parliament of India"},{"label":"Assent","value":"28 August 2017"},{"label":"Published","value":"28 August 2017"},{"label":"Gazette","value":"Not recorded"},{"label":"Jurisdiction","value":"IN"}],"jurisdiction":"IN","dates":{"made":"2017-08-28","inForce":"2017-08-28","ceased":null},"changedBy":[{"title":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2022","code":"A11-SV7"},{"title":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2023","code":"A11-TSF"},{"title":"Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2020","code":"A11-QXP"}],"quality":{"answerUse":"limited","status":"not-audited","checkedOn":null,"reason":"Stored text, not a certification of completeness, current law or personal applicability. Exact quotation matching checks wording only.","publications":[]}},"canonical":"/A11-MK6","text":"Specified Bank Notes (Cessation of Liabilities) Act, 2017 [A11-MK6]\nAs at 9 September 2026. In force from 28 August 2017.\nDates: made 28 August 2017; in force 28 August 2017; ceased none recorded. Gazette: none recorded. Band A.\nSynthetic. The words of this Act are generated by the register; its title, number and year are real.\nCite: Specified Bank Notes (Cessation of Liabilities) Act, 2017, Act 2 of 2017 [A11-MK6]. Machine: A11-MK6.\nSections (39)\nChapter I. PRELIMINARY\nChapter II. RESERVE BANK\nChapter III. REGULATION OF THE BUSINESS OF BANKING\nChapter IV. OFFENCES AND PENALTIES\nChapter V. MISCELLANEOUS\nSection 1. Short title, extent and commencement [S28-285]\nSection 2. Definitions [S28-297]\nSection 3. Appointment of Reserve Bank [S28-2A1]\nSection 4. Registration of financials institution [S28-2B3]\nSection 5. Prohibition of the enforcement of security interest without licence [S28-2CD]\nSection 6. Grant of licence [S28-2DF]\nSection 7. Maintenance of records and furnishing of returns [S28-2E9]\nSection 8. Powers of authorised officer [S28-2FB]\nSection 9. Power to issue directions [S28-2GG]\nSection 10. Power to exempt [S28-2HJ]\nSection 11. Registration of bankings company [S28-2JM]\nSection 12. Prohibition of the borrowing of money without licence [S28-2KP]\nSection 13. Grant of licence [S28-2MR]\nSection 14. Maintenance of records and furnishing of returns [S28-2NT]\nSection 15. Powers of authorised officer [S28-2PW]\nSection 16. Power to issue directions [S28-2QY]\nSection 17. Power to exempt [S28-2R0]\nSection 18. Registration of depositors [S28-2S2]\nSection 19. Prohibition of the business of a financial institution without licence [S28-2T4]\nSection 20. Grant of licence [S28-2V6]\nSection 21. Maintenance of records and furnishing of returns [S28-2W8]\nSection 22. Powers of authorised officer [S28-2XA]\nSection 23. Power to issue directions [S28-2YC]\nSection 24. Power to exempt [S28-2ZE]\nSection 25. Registration of secureds creditor [S28-30H]\nSection 26. Prohibition of the business of banking without licence [S28-31K]\nSection 27. Grant of licence [S28-32N]\nSection 28. Maintenance of records and furnishing of returns [S28-33Q]\nSection 29. Powers of authorised officer [S28-34S]\nSection 30. Power to issue directions [S28-35V]\nSection 31. Power to exempt [S28-36X]\nSection 32. Registration of borrowers [S28-37Z]\nSection 33. Penalty for contravention [S28-381]\nSection 34. Offences by companies [S28-393]\nSection 35. Appeal [S28-3A5]\nSection 36. Cognizance of offences [S28-3B7]\nSection 37. Protection of action taken in good faith [S28-3C9]\nSection 38. Power to make rules [S28-3DB]\nSection 39. Power to remove difficulties [S28-3ED]\nMade under\nNo recital of a power is printed.\nActs on (0)\nnone\nActed on by (4)\nAmends: Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2022, 23 August 2022. \"section 35 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017)\". Synthetic demonstration target.\nAmends: Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2023, 9 June 2023. \"section 33 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017)\". Synthetic demonstration target.\nExempts: Notification S.O. 637(E), dated 24th May, 2021, 24 May 2021. \"section 4 of the said Act\". Synthetic demonstration target.\nAmends: Specified Bank Notes (Cessation of Liabilities) Act (Amendment) Act, 2020, 20 November 2020. \"section 35 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017)\". Synthetic demonstration target.\nNot held (1)\n\"section 3 of the Reserve Bank of India Act, 1934\""}