Section 1: Short title, extent and commencement

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 1 — Short title, extent and commencement. Identifies the statute as the Banking Regulation Act, 1949; fixes territorial extent; commencement depends on the statutory commencement mechanism rather than a private election.

Official statute linkedProvision-specific anatomyPractical case + evidence file

Official text: DFS consolidated Act

Statutory structure and provision map

This map is a provision-specific explanation, not a substitute for the exact statutory text.

Core statutory rule

Identifies the statute as the Banking Regulation Act, 1949.

Condition / limitation

fixes territorial extent.

Timing / amount / process

Condition / limitationcommencement depends on the statutory commencement mechanism rather than a private election.

Professional application

Set out title, extent, commencement and the actual commencement source; distinguish later territorial/amendment history.

Working flow

Identify the bank/entity class, event date and the factual trigger for Short title, extent and commencement.

Apply the core Section 1 rule: Identifies the statute as the Banking Regulation Act, 1949.

Test the next condition or limitation: fixes territorial extent.

Reconcile any amount, period, approval, filing or return mentioned in Section 1 with the supporting record.

Record the conclusion, official source used, effective date and evidence that proves the statutory condition was met or not met.

Evidence / working-paper checklist

Section 1 evidence: entity constitution/classification records.
Section 1 evidence: the event date and applicable statutory version.
Section 1 evidence: the other law said to apply alongside or override this Act.
Section 1 evidence: the Gazette/notification relied on for any suspension or commencement point.

Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.

Common mistakes to avoid

For Section 1, avoid assuming that RBI regulation automatically displaces another statute.
For Section 1, avoid using a current definition for an event governed by older wording.
For Section 1, avoid treating a notification-based exception as permanent or entity-wide without reading its conditions.

Related sections inside the Act

Use these links to read Section 1 in its statutory sequence, especially where the provision imports definitions, approvals, appeals, penalties or winding-up consequences from neighbouring sections.

Current-law source control

Source control: Section 1 is anchored to the official DFS consolidated text; later changes require separate Gazette verification.

Dated matters: verify any later Gazette, RBI direction or binding judgment affecting Section 1 on the event date.

Professional reading note

Professional reading note — Section 1 should be applied as a sequence, not as an isolated heading. Start with the factual trigger

for short title, extent and commencement, then test the operative proposition: Identifies the statute as the Banking Regulation Act, 1949. Next confirm

the limiting or interaction point: commencement depends on the statutory commencement mechanism rather than a private election. The working file should be

capable of showing why the section applies to the relevant bank or person, which statutory version governs the event date, and which

documentary record proves the conclusion. Useful evidence on this page includes Section 1 evidence: entity constitution/classification records and Section 1 evidence: the

event date and applicable statutory version. Read the provision in sequence with Section 2 — Application of other laws not barred and

Section 3 — Act not to apply to certain co-operative societies. This method keeps the legal answer tied to the provision itself

while allowing RBI directions, rules and later instruments to be layered on only where their own scope actually applies.

Primary official sources

Department of Financial Services — consolidated Banking Regulation Act, 1949

Disclaimer

This Finin2min page is an educational and professional reference. Banking regulation is fact-, entity- and date-sensitive. Verify the current Act, Gazette amendments and commencement notifications, applicable RBI Rules/directions and the transaction record before acting or filing.