Banking Regulation Act, 1949 · Section guide
Section 54: Protection of action taken under Act
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 54 — Protection of action taken under Act. Protects good-faith action taken or intended under the Act by the Central Government, RBI and officers in the terms stated; it does not protect bad-faith conduct or acts outside the statutory protection.
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
Protects good-faith action taken or intended under the Act by the Central Government, RBI and officers in the terms stated.
Condition / limitation
it does not protect bad-faith conduct or acts outside the statutory protection.
Source and effective-date control
Apply the wording of Section 54 that was in force on the event date; use the official Act and any applicable commencement/amending instrument linked on this page.
Professional application
State good-faith protection, covered actors/actions and limits without implying blanket immunity.
Evidence / working-paper checklist
- Section 54 evidence: the statutory event document.
- Section 54 evidence: the competent authority record.
- Section 54 evidence: any rule/notification governing the event.
- Section 54 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 54, avoid relying only on the marginal heading.
- For Section 54, avoid ignoring an express exception or cross-reference.
- For Section 54, avoid recording a conclusion without the primary source and event date.
Related sections inside the Act
Use these links to read Section 54 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 54 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 54 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.