Table of Contents
The banking sector reforms and acts are to encourage the efficiency and productivity of the banking system in India. Their main aim is to increase growth and development. They are in charge of maintaining the stability and adequacy of the financial market. The general awareness section is considered to be a high scoring section in any competitive exam. Candidates preparing for the Bank exams, Insurance exam, SSC exam, or any other Government exam no need to remember any formulae or rules to ace this section. Just diligent preparation and wisely addressing the questions can give candidates an edge over the competitors for this section. In this article, we will discuss Banking Sector Reforms and Acts in India.
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List of Important Banking Sector Reforms and Acts in India
Given below is the List of Important Banking Sector Reforms and Acts in India.
1: Who was the first woman President of India?
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S. No. Banking Acts and Reforms Year 1 Societies Registration Act 1860 2 Negotiable Instrument Act 1881 3 Indian Trusts Act 1882 4 The Bankers’ Books Evidence Act 1891 5 Indian Stamp Act 1899 6 Co-operative Societies Act 1912 7 Provident Funds Act 1925 8 Indian Partnership Act 1934 9 The Reserve Bank of India Act 1934 10 Insurance Act 1938 11 Central Excise Act 1944 12 Public Debt Act 1944 13 International Monetary Fund and Bank Act 1945 14 Employees’ State Insurance Act 1948 15 The Industrial Finance Corporation of India Act 1948 16 The Banking Companies (Legal Practitioner Clients’ Accounts) Act 1949 17 The Industrial Disputes Act 1949 18 The Banking Regulation Act 1949 19 Chartered Accountants Act 1949 20 Contingency Fund of India Act 1950 21 The State Financial Corporations Act 1951 22 Employees Provident Fund and Miscellaneous Provisions Act 1952 23 The Reserve Bank of India (Amendment and Misc. Provisions) Act 1953 24 The Industrial Disputes (Banking Companies) Decision Act 1955 25 The State Bank of India Act 1955 26 Life Insurance Corporation Act 1956 27 Companies Act 1956 28 Central Sales Tax Act 1956 29 The State Bank of India (Subsidiary Banks) Act 1959 30 The Subsidiary Banks General Regulation 1959 31 The Deposit Insurance and Credit Guarantee Corporation Act 1961 32 Customs Act 1962 33 Unit Trust of India Act 1963 34 Limitation Act 1963 35 Nationalization of Banks Act 1964 36 Banking Laws (Application to Co-operative Societies) Act 1965 37 Banking Companies (Acquisition and Transfer of Undertaking) Act 1969 38 The Nationalized Banks Scheme 1970 39 The Regional Rural Banks Act 1976 40 Foreign Contribution Act 1976 41 The Export-Import Bank of India Act 1981 42 The National Bank for Agriculture and Rural Development Act 1981 43 Chit Fund Act 1982 44 Sick Industrial Companies (Special Provisions)Act 1985 45 Shipping Development Fund Committee Act 1985 46 Banking Companies Rules 1985 47 The National Housing Bank Act 1987 48 SIDBI Act 1989 49 SIDBI General Regulations 1990 50 Securities and Exchange Board of India Act 1992 51 The Special Court Act 1992 52 The Industrial Finance Corporation Act 1993 53 Recovery of Debts due to Banks and Financial Institutions Act 1993 54 Debts Recovery Appellate Tribunal Rules 1994 55 Industrial Reconstruction Bank Act 1997 56 Foreign Exchange Management Act 1999 57 Insurance Regulatory and Development Authority Act 1999 58 Prevention of Money Laundering Act 2002 59 Fiscal Responsibility and Budget Management Act 2002 60 The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 61 Industrial Development Bank Act 2003 62 Credit Information Companies Act 2005 63 Government Securities Act 2006 64 The Banking Ombudsman Scheme 2006 64 Factoring Act Rules 2011 66 SARFAESI (Central Registry) Rules 2011 67 Securities Law (Amendment) Act 2014 68 The Regional Rural Banks (Amendment) Act 2014 69 The Insurance Laws (Amendment) Act 2015 70 The Companies Act (Amended) 2015 
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