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Section 26: Return of unclaimed deposits.

The Banking Regulation Act, 1949Central Act · Act 10 of 1949

Every banking company shall, within thirty days after the close of each calendar year, submit a return in the prescribed form and manner to the Reserve Bank as at the end of such calendar year of all accounts [in India] which have not been operated upon for ten years, ***:

Provided that in the case of money deposited for a fixed period the said term of ten years shall be reckoned from the date of the expiry of such fixed period:

[Provided further that every regional rural bank shall also furnish a copy of the said return to the National Bank.]

Where this provision sits

ActThe Banking Regulation Act, 1949
Section26
Marginal noteReturn of unclaimed deposits.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 20 of 1950. . Subs. by Act 20 of 1950, s. 3, for "in the States" (w.e.f.18-3-1950).
  • omitted, Act 55 of 1963. . Certain words omitted by Act 55 of 1963, s. 14 (w.e.f. 1-2-1964).
  • inserted, Act 61 of 1981. . Ins. by Act 61 of 1981, s. 61 and the Second Schedule (w.e.f. 1-5-1982).

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