Section 7: Use of words "bank", "banker", "banking" or "banking company".

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

[7. Use of words "bank", "banker", "banking" or "banking company".--(1) No company other than a banking company shall use as part of its name [or in connection with its business] any of the words "bank", "banker" or "banking" and no company shall carry on the business of banking in India unless it uses as part of its name at least one of such words.

(2) No firm, individual or group of individuals shall, for the purpose of carrying on any business, use as part of its or his name any of the words "bank", "banking" or "banking company".

(3) Nothing in this section shall apply to--

(a) a subsidiary of a banking company formed for one or more of the purposes mentioned in sub-section (1) of section 19, whose name indicates that it is a subsidiary of that banking company;

(b) any association of banks formed for the protection of their mutual interests and registered under section 25 of the Companies Act, 1956 (1 of 1956).]

Where this provision sits

Act	The Banking Regulation Act, 1949
Section	7
Marginal note	Use of words "bank", "banker", "banking" or "banking company".
Jurisdiction	Central
Status	In 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 55 of 1963. . Subs. by Act 55 of 1963, s. 7, for section 7 (w.e.f. 1-2-1964).
inserted, Act 1 of 1984. . Ins. by Act 1 of 1984, s. 14 (w.e.f. 15-2-1984).

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The Banking Regulation Act, 1949 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.