Banking Regulation Act, 1949 · Section guide
Section 49: Special provisions for private banking companies
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 49 — Special provisions for private banking companies. Applies special corporate-law modifications to private banking companies so private-company features do not defeat the banking regulatory regime.
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
Applies special corporate-law modifications to private banking companies so private-company features do not defeat the banking regulatory regime.
Condition / limitation
How to read the provisionSection 49: 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 49 by analogy; distinguish statutory text from stricter policy or later RBI requirements.
Professional application
List private-banking-company exemptions and their limits; identify imported company-law references precisely.
Evidence / working-paper checklist
- Section 49 evidence: the statutory event document.
- Section 49 evidence: the competent authority record.
- Section 49 evidence: any rule/notification governing the event.
- Section 49 evidence: dated conclusion and supporting official source.
Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.
Common mistakes to avoid
- For Section 49, avoid relying only on the marginal heading.
- For Section 49, avoid ignoring an express exception or cross-reference.
- For Section 49, avoid recording a conclusion without the primary source and event date.
Related sections inside the Act
Use these links to read Section 49 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 49 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 49 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.