Banking Regulation Act, 1949 · Section guide
Section 49C: Alteration of memorandum of a banking company
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 49C — Alteration of memorandum of a banking company. Provides a special route for alteration of a banking company’s memorandum, subject to regulatory. Approval/control under the Act rather than company law alone.
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
Provides a special route for alteration of a banking company’s memorandum, subject to regulatory approval/control under the Act rather than company law alone.
Condition / limitation
How to read the provisionSection 49C: 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 49C by analogy; distinguish statutory text from stricter policy or later RBI requirements.
Professional application
Map memorandum alteration controls, certification and filings; connect to Sections 5A/49B where useful.
Evidence / working-paper checklist
- Section 49C evidence: the statutory event document.
- Section 49C evidence: the competent authority record.
- Section 49C evidence: any rule/notification governing the event.
- Section 49C 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 49C, avoid relying only on the marginal heading.
- For Section 49C, avoid ignoring an express exception or cross-reference.
- For Section 49C, avoid recording a conclusion without the primary source and event date.
Related sections inside the Act
Use these links to read Section 49C 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 49C 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 49C 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.