Section 45F - Certain claims for compensation barred, Section 45H Chapter IIIB not to apply in certain cases: RBI Act 1934

What is the meaning of Certain claims for compensation barred? Does Chapter IIIB not to apply in certain cases? Section 45F and 45H of Reserve Bank of India Act 1934

 

 

Section 45F of RBI Act 1934 : "Certain claims for compensation barred"

No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions of this Chapter.

 

Section 45H of RBI Act 1934: "Chapter IIIB not to apply in certain cases"

The provisions of this Chapter shall not apply to the State Bank or a banking company as defined in section 5 of the Banking Regulation Act, 1949 (10 of 1949) or a corresponding new bank as defined in clause (da) of section 5 of that Act or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) or a Regional Rural Bank or a co-operative bank] or a primary agricultural credit society or a primary credit society :

Provided that for the purposes of this Chapter, the Tamil Nadu Industrial Investment Corporation Limited shall not be deemed to be a banking company.

 

RBI ACT 1934

Section 42 - Cash reserves of scheduled banks to be kept with the Bank

Section 43 - Publication of consolidated statement by the Bank

Section 43A - Protection of action taken in good faith

Section 45 - Appointment of agents

CHAPTER IIIA COLLECTION AND FURNISHING OF CREDIT INFORMATION

Section 45A - Definitions

Section 45B - Power of Bank to collect credit information

Section 45C - Power to call for returns containing credit information

Section 45D - Procedure for furnishing credit information to banking companies

Section 45E - Disclosure of information prohibited

Section 45F - Certain claims for compensation barred

Section 45H Chapter IIIB not to apply in certain cases

Section 45I - Definitions

Section 45IA - Requirement of registration and net owned fund

Section 45 IB - Maintenance of percentage of assets

Section 45 IC - Reserve fund

Section 45ID - Power of Bank to remove directors from office

Section 45IE Supersession of Board of directors of non-banking financial company other than Government Company

Section 45 J - Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money

Section 45 JA - Power of Bank to determine policy and issue directions

Section 45 K - Power of Bank to collect information from non-banking institutions as to deposits and to give directions

Section 45 L - Power of Bank to call for information from financial institutions and to give directions

Section 45 M - Duty of non-banking institutions to furnish statements, etc., required by Bank

Section 45 MA - Powers and duties of auditors

Section 45 MB - Power of bank to prohibit acceptance of deposit and alienation of assets

Section 45 MC - Power of Bank to file winding up petition