Skip to main content
Home › Indian Laws › Banking Regulation Act, 1949 › Section 55A
Banking Regulation Act, 1949 · Section guide

Section 55A: Power to remove difficulties

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 55A — Power to remove difficulties. Historical power allowing the Central Government to remove implementation difficulties within the limited three-year period specified from the relevant 1968 amendment commencement; the time-limited power is not a continuing general amendment power.

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

Historical power allowing the Central Government to remove implementation difficulties within the limited three-year period specified from the relevant 1968 amendment commencement.

Condition / limitation

the time-limited power is not a continuing general amendment power.

Source and effective-date control

Apply the wording of Section 55A that was in force on the event date; use the official Act and any applicable commencement/amending instrument linked on this page.

Professional application

Retain the time-limited nature and verify the exact historical commencement/end date; remove any live compliance implication.

Evidence / working-paper checklist

  • Section 55A evidence: the statutory event document.
  • Section 55A evidence: the competent authority record.
  • Section 55A evidence: any rule/notification governing the event.
  • Section 55A 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 55A, avoid relying only on the marginal heading.
  • For Section 55A, avoid ignoring an express exception or cross-reference.
  • For Section 55A, avoid recording a conclusion without the primary source and event date.

Current-law source control

Source control: Section 55A 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 55A on the event date.

Professional reading note

Professional reading note — Section 55A should be applied as a sequence, not as an isolated heading. Start with the factual trigger

for power to remove difficulties, then test the operative proposition: Historical power allowing the Central Government to remove implementation difficulties within the

limited three-year period specified from the relevant 1968 amendment commencement. Next confirm the limiting or interaction point: the time-limited power is not

a continuing general amendment power. 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

55A evidence: the statutory event document and Section 55A evidence: the competent authority record. Read the provision in sequence with Section 54

— Protection of action taken under Act and Section 55 — Amendment of Reserve Bank of India Act, 1934. 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.

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.