Notwithstanding anything contained in the Usurious Loans Act, 1918 (10 of 1918), or any other law relating to indebtedness in force in any State, a transaction between a banking company and its debtor shall not be re-opened by any Court on the ground that the rate of interest charged by the banking company in respect of such transaction is excessive.]
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*Ins. by Act 1 of 1984 s. 24 (w.e.f. 15.2.1984)
Section 16 Prohibition of common directors
Section 19 Restriction on nature of subsidiary companies
Section 20 Restrictions on loans and advances
Section 20A Restrictions on power to remit debts
Section 21 Power of Reserve Bank to control advances by banking companies
Section 21A Rates of interest charged by banking companies not to be subject to scrutiny by courts
Section 22 Licensing of banking companies
Section 23 Restrictions on opening of new and transfer of existing, places of business
Section 24 Maintenance of a percentage of assets
Section 26 Return of unclaimed deposits
Section 26A Establishment of Depositor Education and Awareness Fund
Section 27 Monthly returns and power to call for other returns and information
Section 28 Power to publish information
Section 29 Accounts and balance-sheet