{"apiVersion":1,"release":"r-2026-09-08-012","packet":{"code":"A11Q77","written":"A11-Q77","title":"Bilateral Netting Qualified Financial Contracts Act, 2020","status":"As at 8 September 2026. In force from 16 March 2020.","path":"/A11-Q77","asAt":null,"sha256":null,"blocks":[{"kind":"title","segs":["Bilateral Netting Qualified Financial Contracts Act, 2020 [A11-Q77]"]},{"kind":"status","segs":["As at 8 September 2026. ","In force from ","16 March 2020","."]},{"kind":"line","segs":["Dates: made 16 March 2020; in force 16 March 2020; 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: Bilateral Netting Qualified Financial Contracts Act, 2020, Act 30 of 2020 [A11-Q77]. Machine: A11-Q77."]},{"kind":"heading","segs":["Sections (35)"]},{"kind":"item","segs":["Chapter I. PRELIMINARY"]},{"kind":"item","segs":["Chapter II. RESERVE BANK"]},{"kind":"item","segs":["Chapter III. OFFENCES AND PENALTIES"]},{"kind":"item","segs":["Chapter IV. MISCELLANEOUS"]},{"kind":"item","segs":[{"text":"Section 1. Short title, extent and commencement","href":"/S29-V3G"}," [S29-V3G]"]},{"kind":"item","segs":[{"text":"Section 2. Definitions","href":"/S29-V4Y"}," [S29-V4Y]"]},{"kind":"item","segs":[{"text":"Section 3. Appointment of Reserve Bank","href":"/S29-V5W"}," [S29-V5W]"]},{"kind":"item","segs":[{"text":"Section 4. Registration of financials institution","href":"/S29-V6T"}," [S29-V6T]"]},{"kind":"item","segs":[{"text":"Section 5. Prohibition of the enforcement of security interest without licence","href":"/S29-V7R"}," [S29-V7R]"]},{"kind":"item","segs":[{"text":"Section 6. Grant of licence","href":"/S29-V86"}," [S29-V86]"]},{"kind":"item","segs":[{"text":"Section 7. Maintenance of records and furnishing of returns","href":"/S29-V94"}," [S29-V94]"]},{"kind":"item","segs":[{"text":"Section 8. Powers of authorised officer","href":"/S29-VA2"}," [S29-VA2]"]},{"kind":"item","segs":[{"text":"Section 9. Power to issue directions","href":"/S29-VB0"}," [S29-VB0]"]},{"kind":"item","segs":[{"text":"Section 10. Power to exempt","href":"/S29-VCE"}," [S29-VCE]"]},{"kind":"item","segs":[{"text":"Section 11. Registration of bankings company","href":"/S29-VDC"}," [S29-VDC]"]},{"kind":"item","segs":[{"text":"Section 12. Prohibition of the borrowing of money without licence","href":"/S29-VEA"}," [S29-VEA]"]},{"kind":"item","segs":[{"text":"Section 13. Grant of licence","href":"/S29-VF8"}," [S29-VF8]"]},{"kind":"item","segs":[{"text":"Section 14. Maintenance of records and furnishing of returns","href":"/S29-VGK"}," [S29-VGK]"]},{"kind":"item","segs":[{"text":"Section 15. Powers of authorised officer","href":"/S29-VHH"}," [S29-VHH]"]},{"kind":"item","segs":[{"text":"Section 16. Power to issue directions","href":"/S29-VJQ"}," [S29-VJQ]"]},{"kind":"item","segs":[{"text":"Section 17. Power to exempt","href":"/S29-VKN"}," [S29-VKN]"]},{"kind":"item","segs":[{"text":"Section 18. Registration of depositors","href":"/S29-VMV"}," [S29-VMV]"]},{"kind":"item","segs":[{"text":"Section 19. Prohibition of the business of a financial institution without licence","href":"/S29-VNS"}," [S29-VNS]"]},{"kind":"item","segs":[{"text":"Section 20. Grant of licence","href":"/S29-VPZ"}," [S29-VPZ]"]},{"kind":"item","segs":[{"text":"Section 21. Maintenance of records and furnishing of returns","href":"/S29-VQX"}," [S29-VQX]"]},{"kind":"item","segs":[{"text":"Section 22. Powers of authorised officer","href":"/S29-VR3"}," [S29-VR3]"]},{"kind":"item","segs":[{"text":"Section 23. Power to issue directions","href":"/S29-VS1"}," [S29-VS1]"]},{"kind":"item","segs":[{"text":"Section 24. Power to exempt","href":"/S29-VT7"}," [S29-VT7]"]},{"kind":"item","segs":[{"text":"Section 25. Registration of secureds creditor","href":"/S29-VV5"}," [S29-VV5]"]},{"kind":"item","segs":[{"text":"Section 26. Prohibition of the business of banking without licence","href":"/S29-VWB"}," [S29-VWB]"]},{"kind":"item","segs":[{"text":"Section 27. Grant of licence","href":"/S29-VX9"}," [S29-VX9]"]},{"kind":"item","segs":[{"text":"Section 28. Maintenance of records and furnishing of returns","href":"/S29-VYF"}," [S29-VYF]"]},{"kind":"item","segs":[{"text":"Section 29. Penalty for contravention","href":"/S29-VZD"}," [S29-VZD]"]},{"kind":"item","segs":[{"text":"Section 30. Offences by companies","href":"/S29-W0A"}," [S29-W0A]"]},{"kind":"item","segs":[{"text":"Section 31. Appeal","href":"/S29-W18"}," [S29-W18]"]},{"kind":"item","segs":[{"text":"Section 32. Cognizance of offences","href":"/S29-W2E"}," [S29-W2E]"]},{"kind":"item","segs":[{"text":"Section 33. Protection of action taken in good faith","href":"/S29-W3C"}," [S29-W3C]"]},{"kind":"item","segs":[{"text":"Section 34. Power to make rules","href":"/S29-W42"}," [S29-W42]"]},{"kind":"item","segs":[{"text":"Section 35. Power to remove difficulties","href":"/S29-W50"}," [S29-W50]"]},{"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":["Exempts: ",{"text":"Notification S.O. 1860(E), dated 20th March, 2023","href":"/N12-N1Q"},", 20 March 2023",". \"section 4 of the said Act\"."," Synthetic demonstration target."]},{"kind":"item","segs":["Exempts: ",{"text":"Notification S.O. 1380(E), dated 6th April, 2022","href":"/N12-MHP"},", 6 April 2022",". \"section 4 of the said Act\"."," Synthetic demonstration target."]},{"kind":"item","segs":["Exempts: ",{"text":"Notification S.O. 466(E), dated 27th January, 2025","href":"/N12-P89"},", 27 January 2025",". \"section 4 of the said Act\"."," Synthetic demonstration target."]},{"kind":"item","segs":["Corresponds to: ",{"text":"Bilateral Netting Qualified Financial Contracts (Amendment) Bill, 2024","href":"/A12-JJ4"},", 8 March 2024","."," 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":"/S29-V3G","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 2. Definitions.","path":"/S29-V4Y","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":"/S29-V5W","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":"/S29-V6T","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 5. 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Power to exempt.","path":"/S29-VKN","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":"/S29-VMV","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":"/S29-VNS","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":"/S29-VPZ","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":"/S29-VQX","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":"/S29-VR3","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":"/S29-VS1","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":"/S29-VT7","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":"/S29-VV5","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":"/S29-VWB","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":"/S29-VX9","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":"/S29-VYF","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 29. 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Inspect the operative text; this is not an applicability finding.","synthetic":true,"effectiveDate":"2024-03-08","recordedEffect":{"type":"corresponds_to","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 30 of 2020"},{"label":"Number","value":"30 of 2020"},{"label":"Authority","value":"Parliament of India"},{"label":"Assent","value":"16 March 2020"},{"label":"Published","value":"16 March 2020"},{"label":"Gazette","value":"Not recorded"},{"label":"Jurisdiction","value":"IN"}],"jurisdiction":"IN","dates":{"made":"2020-03-16","inForce":"2020-03-16","ceased":null},"changedBy":[],"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-Q77","text":"Bilateral Netting Qualified Financial Contracts Act, 2020 [A11-Q77]\nAs at 8 September 2026. In force from 16 March 2020.\nDates: made 16 March 2020; in force 16 March 2020; 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: Bilateral Netting Qualified Financial Contracts Act, 2020, Act 30 of 2020 [A11-Q77]. Machine: A11-Q77.\nSections (35)\nChapter I. PRELIMINARY\nChapter II. RESERVE BANK\nChapter III. OFFENCES AND PENALTIES\nChapter IV. MISCELLANEOUS\nSection 1. Short title, extent and commencement [S29-V3G]\nSection 2. Definitions [S29-V4Y]\nSection 3. Appointment of Reserve Bank [S29-V5W]\nSection 4. Registration of financials institution [S29-V6T]\nSection 5. Prohibition of the enforcement of security interest without licence [S29-V7R]\nSection 6. Grant of licence [S29-V86]\nSection 7. Maintenance of records and furnishing of returns [S29-V94]\nSection 8. Powers of authorised officer [S29-VA2]\nSection 9. Power to issue directions [S29-VB0]\nSection 10. Power to exempt [S29-VCE]\nSection 11. Registration of bankings company [S29-VDC]\nSection 12. Prohibition of the borrowing of money without licence [S29-VEA]\nSection 13. Grant of licence [S29-VF8]\nSection 14. Maintenance of records and furnishing of returns [S29-VGK]\nSection 15. Powers of authorised officer [S29-VHH]\nSection 16. Power to issue directions [S29-VJQ]\nSection 17. Power to exempt [S29-VKN]\nSection 18. Registration of depositors [S29-VMV]\nSection 19. Prohibition of the business of a financial institution without licence [S29-VNS]\nSection 20. Grant of licence [S29-VPZ]\nSection 21. Maintenance of records and furnishing of returns [S29-VQX]\nSection 22. Powers of authorised officer [S29-VR3]\nSection 23. Power to issue directions [S29-VS1]\nSection 24. Power to exempt [S29-VT7]\nSection 25. Registration of secureds creditor [S29-VV5]\nSection 26. Prohibition of the business of banking without licence [S29-VWB]\nSection 27. Grant of licence [S29-VX9]\nSection 28. Maintenance of records and furnishing of returns [S29-VYF]\nSection 29. Penalty for contravention [S29-VZD]\nSection 30. Offences by companies [S29-W0A]\nSection 31. Appeal [S29-W18]\nSection 32. Cognizance of offences [S29-W2E]\nSection 33. Protection of action taken in good faith [S29-W3C]\nSection 34. Power to make rules [S29-W42]\nSection 35. Power to remove difficulties [S29-W50]\nMade under\nNo recital of a power is printed.\nActs on (0)\nnone\nActed on by (4)\nExempts: Notification S.O. 1860(E), dated 20th March, 2023, 20 March 2023. \"section 4 of the said Act\". Synthetic demonstration target.\nExempts: Notification S.O. 1380(E), dated 6th April, 2022, 6 April 2022. \"section 4 of the said Act\". Synthetic demonstration target.\nExempts: Notification S.O. 466(E), dated 27th January, 2025, 27 January 2025. \"section 4 of the said Act\". Synthetic demonstration target.\nCorresponds to: Bilateral Netting Qualified Financial Contracts (Amendment) Bill, 2024, 8 March 2024. Synthetic demonstration target.\nNot held (1)\n\"section 3 of the Reserve Bank of India Act, 1934\""}