Banking Regulation Act, 1949 · Section guide
Section 43: Booked depositors’ credits to be deemed proved
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 43 — Booked depositors’ credits to be deemed proved. Treats deposits shown in the bank’s books as proved claims subject to the section,. reducing the burden on depositors to file ordinary proof for recorded deposit balances.
Official statute linkedProvision-specific anatomyPractical case + evidence file
Statutory structure and provision map
This map is a provision-specific explanation, not a substitute for the exact statutory text.
Core statutory rule
Treats deposits shown in the bank’s books as proved claims subject to the section, reducing the burden on depositors to file ordinary proof for recorded deposit balances.
Condition / limitation
How to read the provisionSection 43: read the operative proposition with its defined terms and cross-references in the official Act.
Timing / amount / process
Boundary of the ruleDo not expand Section 43 by analogy; distinguish statutory text from stricter policy or later RBI requirements.
Professional application
Explain when book entries prove depositor claims and how the liquidator treats contested entries.
Evidence / working-paper checklist
- Section 43 evidence: High Court/Central Government/RBI order initiating the process.
- Section 43 evidence: liquidator/scheme records and creditor/debtor lists.
- Section 43 evidence: service/publication and statutory-timeline evidence.
- Section 43 evidence: orders settling claims, calls, transfers, moratorium or amalgamation.
Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.
Common mistakes to avoid
- For Section 43, avoid applying ordinary Companies Act procedure without the banking-specific override.
- For Section 43, avoid missing the special limitation or accelerated filing period.
- For Section 43, avoid treating a private scheme as effective before the statutory sanction/order.
Related sections inside the Act
Use these links to read Section 43 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 43 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 43 on the event date.
Primary official sources
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.