Banking Regulation Act : Punishments for certain activities in relation to banking companies. Indian

Banking Regulation Act,1949

Act No : 10

Section : Punishments for certain activities in relation to banking companies.

36AD. Punishments for certain activities in relation to banking companies.- (1) No person shall-- (a) obstruct any person from lawfully entering or leaving any office or place of business of a banking company or from carrying on any business there, or (b) hold, within the office or place of business of any banking company, any demonstration which is violent or which prevents, or is calculated to prevent, the transaction of normal business by the banking company, or (c) act in any manner calculated to undermine the confidence of the depositors in the banking company. (2) Whoever contravenes any provision of sub-section (1) without any reasonable excuse shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to one thousand rupees, or with both. 2*[(3) For the purposes of this section "banking company" includes the Reserve Bank, the development Bank, the Exim Bank 3*[, the Reconstruction Bank], 4*[the National Housing Bank], the National Bank 5*[, the Small Industries Bank ,] the State Bank of India, a corresponding new bank, a regional rural bank and a subsidiary bank]. ---------------------------------------------------------------------- 1. Ins. by Act 58 of 1968, s. 15 (w.e.f. 1-2-1969). 2. Ins. by Act 1 of 1984, s. 32, (w.e.f. 15-2-1984). 3. Ins. by Act 62 of 1984, s. 71 and Sch III (w.e.f. 20-3-1985). 4. Ins. by Act 53 of 1987 s. 56 and Sch II (w.e.f. 9-7-1988). 5. Ins. by Act 39 of 1989, s. 53 and 2nd Sch (w.e.f. 7-3-1990). 82C