MODULE 2

Central Banking—Functions of Central Banks—Banker to Government—Credit

card monetary policy—Banker’s Bank—Reserve Bank—Functions—Supervision
over commercial Banks—Control over non-banking financial institutions—
Licensing—Permitted functions—Control over management—Account and audit of Banks—
Amalgamation, Liquidation and reconstruction of Banks—Bank
Nationalization—Government control over banks.

1.CENTRAL BANKING

Reserve Bank of India is the central banking institution of India. Which controls the monitory
policy of the Indian rupee. It was established in the year of 1935 April 1, during the British
raj in accordance with the provisions of the reserve bank of India act 1934.
The Central Office of the Reserve Bank was initially established in Kolkata but was
permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and
where policies are formulated. Originally it is privately owned since the nationalization in
1949 but the Reserve bank is fully owned by India. The Act entrust all the important functions.
Initially RBI was mainly constituted for, to regulate the issue of bank loans, to maintain
reserves with a view to secure a monitory stability and to operate the credit and currency
system to its advantage.

Central Bank: Central bank is regarded as an apex financial institution in the banking system.
It is considered as an integral part of the economic and financial system of a nation. The
central bank functions as an independent authority and is responsible for controlling,
regulating and stabilising the monetary and banking structure of the country.

In India, the Reserve Bank of India is regarded as the central bank. It was set up in 1935.
Central banks are responsible for maintaining the financial stability and economic sovereignty
of the country.

1.1 Functions of RBI

1. Monetary Management/Authority
2. Issue of currency
3. Banker and Debt Manager to government
4. Banker to Banks
5. Foreign Exchange Reserve Management
6. Foreign Exchange Management
7. Market Operations
8. Payment and Settlement access systems
9. Developmental role
10. Policy Research or Data Dissemination.

 Functions of RBI can be classified into following three categories:

I. Traditional functions
NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
II. Development functions
III. Supervisory functions

- Traditional Functions of RBI : Issue Of Currency Notes, Bankers To The Other Bank,
Banker To The Government, Exchange Rate Management, Credit Control Functions,
Supervisory Function
- Developmental / promotional functions of RBI: Development Of The Financial
System, Development Of Agriculture, Provision Of Industrial Finance, Provisions Of
Training, Collection Of Data, Publication Of Report, Promotion Of Banking Habits,
Promotion Of Export Through Refinance
- Supervisory functions of RBI: Granting License To Bank, Bank Inspection, Control
Over NBFIs, Implementation Of The Deposit Insurance Scheme

Main functions are :

1. Banker to the government
2. Note issuing authority
3. Banker to the commercial banks
4. Credit controller

Today, there is a central bank for each and every country, The Reserve Bank of India (RBI),
is the Central Bank of our country which is responsible for the regulation and function of the
Indian Banking System. Initially its share capital is 5 Cr and it was divided in to shares of
rupees 100 each fully paid up.
Reserve bank of India performs all such functions which the Central Bank of a country
performs.

1.1.1 Banker to the government

 RBI is the Central Bank of our country and hence it acts as banker to the Central and
State Government.
 Section 20 of the RBI Act 1934 imposes on bank obligation or duty to transact all
government business including the management of the public debt of the union.
 Section 21 of the RBI Act 1934 states that union government entrust the Reserve bank
, all its money, remittances, exchange and banking transaction and in particular
deposits free of interest all its cash balances with the bank.
 It also act as an advisor to the government on an important economical and financial
matters.
 According to section 45 of the RBI Act 1934, it is obligatory on the part of the reserve
bank of India to appoints State Bank of India as its sole agent at all places where
reserve banks branch or offices, subsidiary bank is not available.
 RBI acts as a banker to the government. RBI is the responsible agency for receiving
and paying money on behalf of the various government departments.
 RBI is also authorized to appoint other banks to act as its agent and undertake banking
business on the behalf of the government.
 RBI maintains Central and State Government funds like Consolidated Funds,
Contingency Funds, and Public Account.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
  RBI also provides loans to the central/State/UT Government as a banker to the
government.

1.1.2 Banker to Banks

Reserve Banks provides bank with facility of opening account with itself. This is the banker
to bank function of the Reserve Bank. This function is running through the Deposit Account
Department (DAD) at the regional office. So the department of government and bank accounts
oversees this function and formulate policy and issues operational instruction to DAD. To
fulfil this function, reserve banks opens current accounts of bank with itself enabling these
banks to maintain cash reserves as well as to carry out interbank transactions through these
accounts. So interbank account can also be settled by transfer of money through electronic
fund transfer system such as Realtime grow settlements system.

1.1.3 Foreign Exchange Reserve Management

Reserve Bank is a custodian of the country’s Foreign Exchange Reserves.
It is vested with responsibility of managing their investment. Legal provisions governing
management Foreign Exchange Reserves governed in the RBI Act 1934.
The RBI Act of 1934 permits the RBI to invest these foreign exchange reserves in the
following instruments-
 Deposit with Banks for International Settlement
 Deposit with foreign Commercial Banks
 Debt Instruments
Other instruments with approval of the Central Banks of RBI

1.1.4 RBI- Lender of last resort / Banker of rediscount

 This function was developed out the special position of the bank issue. That means
RBI comes to rescue the banks that are solvent (facing temporary liquid problems) but
have not gone bankrupt. RBI provides this facility to protect the interest of depositors
and to prevent the possible failure of the bank.
 The central bank acts as a lender of last resort by providing money to its member banks
in times of cash crunch. It performs this function by providing loans against securities,
treasury bills and also by rediscounting bills.
 Also RBI undertakes supervision and regulation of banks as well as the provision of
Banking Regulation Act 1949. Granting licence for the establishment of bank can be
done by the RBI

1.1.5 Note Issuing Authority

 The Reserve Bank has the sole right to issue currency notes of India as per sec 22.
 There are two departments, first one is the issuing department and the other is banking
department. Issuing department releases currency against the assets, here assets
include global coins, foreign security, rupee coins and security.
 One rupee notes and coins are issued by the Central Government and the currency
notes was issued by the reserve bank. RBI has separate issuing department with
issuing notes. Currency notes are issued under the principle of minimum reserve
system 1957

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
1.1.6 Credit Control Function
 Commercial bank in the country creates credit according to the demand in the
economy. But if this credit creation is unchecked or unregulated then it leads the
economy into inflationary cycles.
 On the other credit creation is below the required limit then it harms the growth of the
economy. As a central bank of the nation the RBI has to look for growth with price
stability. Thus, it regulates the credit creation capacity of commercial banks by using
various credit control tools

1.2 Reserve Bank of India's Credit Card Monitory Policy

 The Reserve Bank of India has a credit policy which aims at pursuing higher growth
with price stability. Higher economic growth means to produce more quantity of goods
and services indifferent sectors of an economy; Price stability however does not mean
no change in the general price level but to control the inflation.
 The credit policy aims at increasing finance for the agriculture and industrial activities.
 When credit policy is implemented, the role of other commercial banks is very
important. Commercial banks flow of credit to different sectors of the economy
depends on the actual cost of credit and arability of funds in the economy

 MONETARY POLICIES OF RBI

 Monetary policy is a policy formulated by the central bank, i.e., RBI (Reserve
Bank of India)and relates to the monetary matters of the country. The policy
involves measures taken for regulating the money supply, availability and cost
of credit in the economy.
 The policy also oversees distribution of credit among users as well as
borrowing and lending rates of interest.
 The various instruments of monetary policy include variations in bank rates,
other interest rates, selective credit controls, supply of currency, variations in
reserve requirements and open market operations.

- Objectives of Monetary Policy

a) Promotion of saving and investment:

Since the monetary policy controls the rate of interest and inflation within
the country, it can impact the savings and investment of the people. A
higher rate of interest translates to a greater chance of investment and
savings, thereby, maintaining a healthy cash flow within the economy
b) Controlling the imports and exports:
By helping industries secure a loan at a reduced rate of
interest, monetary policy helps export-oriented units to substitute imports and
increase exports. This, in turn, helps improve the condition of the balance of
payments.
c) Managing business cycles:
The two main stages of a business cycle are boom and
depression. Monetary policy is the greatest tool using which boom and
depression of business cycles can be controlled by managing the credit to
control the supply of money.
NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 d) Regulation of aggregate demand:
Since monetary policy can control the demand in an economy, it can be used
by monetary authorities to maintain a balance between demand and supply of goods and
services. When credit is expanded and the rate of interest is reduced, it allows more people to
secure loans for the purchase of goods and services. This leads to the rise in demand. On the
other hand, when the authorities wish to reduce demand, they can reduce credit and raise the
interest rates.
e) Generation of employment:
As monetary policy can reduce the interest rate, small and medium
enterprises (SMEs) can easily secure a loan for business expansion. This can
lead to greater employment opportunities.
f) Helping with the development of infrastructure:
The monetary policy allows concessional funding for the
development of infrastructure within the country Allocating more credit for
the priority segments: Under the monetary policy, additional funds are
allocated at lower rates of interest for the development of the priority
sectors such as small-scale industries, agriculture, underdeveloped sections
of the society, etc.
g) Managing and developing the banking sector:
The entire banking industry is managed by the Reserve Bank of
India (RBI). While RBI aims to make banking facilities available far and wide across
the nation, it also instructs other banks using the monetary policy to establish rural
branches wherever necessary for agricultural development. Additionally, the
government has also set up regional rural banks and cooperative banks to help
farmers receive the financial aid they require in no time.

- Monetary Policy Tools

To control inflation, the Reserve Bank of India needs to decrease the supply of money or
increase cost of fund in order to keep the demand of goods and services in control.
1. Quantitative tools –
The tools applied by the policy that impact money supply in the entire economy, including
sectors such as manufacturing, agriculture, automobile, housing, etc.
a. Reserve Ratio: Banks are required to keep aside a set percentage of cash reserves or RBI
approved assets.

Reserve ratio is of two types:

i. Cash Reserve Ratio (CRR) – Banks are required to set aside this
portion in cash with the RBI. The bank can neither lend it to anyone
nor can it earn any interest rate or profit on CRR.
ii. Statutory Liquidity Ratio (SLR) – Banks are required to set aside this
portion in liquid assets such as gold or RBI approved securities such
as government securities. Banks are allowed to earn interest on these
securities, however it is very low.
 Open Market Operations (OMO):
In order to control money supply, RBI buys and sells government securities in the
open market. These operations conducted by the Central Bank in the open market are
referred to as Open Market Operations.
When RBI sells government securities, the liquidity is sucked from the market, and
the exact opposite happens when RBI buys securities. The latter is done to control
inflation.
NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 The objective of OMOs are to keep a check on temporary liquidity mismatches in
the market, owing to foreign capital flow.

2. Qualitative tools: Unlike quantitative tools which have a direct effect on the entire
economy’s money supply, qualitative tools are selective tools that have an effect in
the money supply of a specific sector of the economy.

 Margin requirements – RBI prescribes a certain margin against collateral, which in

turn impacts the borrowing habit of customers. When the
margin requirements are raised by the RBI, customers will be
able to borrow less
 Moral suasion – By way of persuasion, RBI convinces banks to keep money in
government securities, rather than certain sectors.
 Selective credit control – Controlling credit by not lending to selective industries or
speculative businesses.

There are various direct and indirect instruments used for implementing monetary policy
including Repo Rate, Reverse Repo Rate, Liquidity Adjustment Facility (LAF), Marginal
Standing Facility (MSF), Corridor, Bank Rate, Cash Reserve Ratio (CRR), Statutory
Liquidity Ratio (SLR), Open Market Operations 2 (OMOs) and Market Stabilization
Scheme (MSS).
They are briefly explained below:

- Repo Rate:
The (fixed) interest rate at which the Reserve Bank provides overnight liquidity
to banks against the collateral of government and other approved securities under the
Liquidity Adjustment Facility (LAF).

- Reverse Repo Rate:

The (fixed) interest rate at which the Reserve Bank absorbs liquidity,
on an overnight basis, from banks against the collateral of eligible government
securities under the LAF.

- Liquidity Adjustment Facility (LAF):

The LAF consists of overnight as well as term repo auctions. The RBI
also conducts variable interest-rate reverse-repo auctions, as necessitated under
market conditions.

- Marginal Standing Facility (MSF):

A facility under which scheduled commercial banks can
borrow additional amount of overnight money from the Reserve Bank by dipping
into their Statutory Liquidity Ratio (SLR) portfolio up to a limit at a penal rate of
interest. This provides a safety valve against unanticipated liquidity shocks to the
banking system.

- Corridor:
The MSF rate and reverse repo rate determine the corridor for the
daily movement in the weighted average call money rate.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
- Bank Rate:
It is the rate at which the Reserve Bank is ready to buy or rediscount bills of
exchange or other commercial papers.

- Cash Reserve Ratio (CRR):

The average daily balance that a bank is required to maintain with the Reserve
Bank as a share of such per cent of its Net demand and time liabilities (NDTL)
that the Reserve Bank may notify from time to time in the Gazette of India.

- Statutory Liquidity Ratio (SLR):

The share of NDTL that a bank is required to maintain in safe
and liquid assets, such as, unencumbered government securities, cash and gold.
Changes in SLR often influence the availability of resources in the banking
system for lending to the private sector

- Open Market Operations (OMOs):

These include both, outright purchase and sale of government
securities, for injection and absorption of durable liquidity, respectively.

- Market Stabilisation Scheme (MSS):

This instrument for monetary management was
introduced in 2004. Surplus liquidity of a more enduring nature arising from
large capital inflows is absorbed through sale of short-dated government
securities and treasury bills. The cash so mobilised is held in a separate
government account with the Reserve Bank.

2.NATIONALIZATION OF BANKS

 Nationalization is a process by which ownership and management is transferred from

private individuals to the government.
 Its main object is to serve better the needs of economic development in consonants with
national priorities and objectives.
 Main goal of nationalization of bank is the social welfare ie provide a socialist pattern to
the society.
 Most important reason for the nationalization of bank is related to the structure policies
and working of private commercial banks.
 Its main aim is largest good to the largest number of people, this was held on a case named
All India Bank Officers' Confederation and Others v/s Union of India and Others
Nationalisation of banks which envisages social control in relation to banks. According to the
banks, social control was expressed since 1967. At first, there were several complaints that
top priority while sanctioning advances was given to the large and medium scale industries
and priority sectors such as agriculture small scale industries were denied.

 Objectives of Nationalization of Banks

According to Banking Companies ( Acquisition and transfer of undertaking ) Act, 1970,

The aim of nationalization of bank in India :

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 “To control the heights of the economy and to me progressively and save better the
needs of development of the economy in conformity with national policy and
objectives”.

The specific objectives was outlined by the PM Mrs. Indira Gandhi in her statement to
the parliament on 21st July, 1969, are:

1. Social Welfare: Many small sectors need fund

2. Controlling Private Monopolies
3. Expansion of Banking
4. Reducing Regional Imbalance: urban- rural areas were divided on the basis of
banking facilities
5. Priority Sector Lending: agriculture sector and its allied activities were
contributes to national income banks nationalised to later their needs.
6. Developing Bank Habits: more than 70% of Indian population was unaware of
the banking habit. They should be familiarized
7. To foster a new class of entrepreneur so as to create, sustain and accelerate
economic growth.
8. To professionalize bank managements.
9. To impart adequate training as also reasonable terms of service to bank staff

Therefore the nutshell nationalisation aims to render the largest goods to largest number of
people.

 Positive impacts of Nationalization

1. Increasing In Savings:- since lenders opened new branches in unbaked areas,

people began investment , which led to increase in national income
2. Improve In Bank Efficiency:- many banks were born and thus they worked
efficiently and eventually published a confidence on them
3. Financial Inclusion :- India’s nationalisation led to growth of financial
intermediation, it also demonstrated the utility of monetary policy in furthering
redistributionist goals
4. Expansion In Rural Areas
5. Creation and extension of sector specific loans and advances
6. Money deposited in banks fuel the growth of needful agriculture, agriculture,
service, industries etc.
7. Improvement in working conditions

 Negative impact of Nationalization

1. Socio Economic Objectives;- Failed to eradicate poverty in scaling down

inequalities of income, wealth and entitlements
2. Never Suppressed private bans:- A big transition stage led to the branch as well
as deposit expansion of private banks

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 3. Extending loans to agriculture and small scale industries was risky and less
profitable
4. No additional securities were provided to depositors through nationalization of
banks
5. Political inference was disturbing the smooth working of the nationalise banks
6. Nationalization involves huge amount of money to be paid as compensation to
the shareholders
7. Complicated interest rates
8. Lowered efficiency and profits: banking was not done on a professional and
ethical grounds

CASE LAWS:

- R.C. Cooper v. Union of India [AIR 1970 SC 564] – Bank Nationalization Case (
landmark case)
Facts : there are no regulations to effectively govern the banking sector in India. In
1969, the Banking Companies ( Acquisition and transfer of undertaking )
ordinance was passed.
The order stated that all the undertakings by the government owned from
nationalisation of private banks was vested in the hands of the government.
I.e.. 14 banks would be transferred
Also it stated central government would have to pay compensation to the bank
acquired by the government

Issue; whether the Banking Companies ( Acquisition and transfer of undertaking )

Act, 1970, was constitutionally calid or not?

Held : provisions of the Act related to the banks upon being nationalised had not
been followed and thus the Act was liable to be struck down.
Also , the Act did not allow nationalised banks to have the opportunity to
pursue any business other than the business of banking .
 Declared the Act invalid and unconstitutional because its provisions
relating to the statutory transfer of undertakings were void as they
impaired the fundamental guarantee under the article 31(2) of the
constitution.

- R. Rajamanickan V. Indian Bank

-
Employees obtained from duty for 4 hours on a particular day and the
Nationalized bank did not acquiesce in the branch of contract and refused to allow the
employees to work for the rest of the day
The court held that, since the employees did not discharge any work of their for the
whole day. The Nationalized banks can apply cut for the whole day.

- All India Bank Officers' Confederation and Others v/s Union of India and Others

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 The court held that, the object of Banking Companies Act was to Nationalize the
bank to render the largest good to largest number of people.
The object of the section 9 of the Act which is regarding Central Government’s power
to make a scheme for the constitution of Board of Directors, it to give the board a truly
representative character so as to reflect the genuine interests of the various dealing
with the bank as an industry and commercial enterprise

 Nationalization Of Banks For Implementing Govt. Policies

Indian Banking System witnessed a major revolution in the year 1969 when 14 major
commercial banks in the private sector were nationalized on 19th July,1969. Most of these
banks having deposits of above ` 50 crores were promoted in the past by the industrialists.
The purpose of nationalization was:
(a) to increase the presence of banks across the nation.
(b) to provide banking services to different segments of the Society.
(c) to change the concept of class banking into mass banking, and
(d) to support priority sector lending and growth.

In 1980, another six more commercial banks with deposits of above` 200 crores were
nationalized. The nationalization of banks resulted in rapid branch expansion and the number
of commercial bank branches have increased many folds in Metro, Urban, Semi – Urban and
Rural Areas. The branch network assisted banks to mobilize deposits and lot of economic
activities have been started on account of priority sector lending.

3.RESERVE BANK & COMMERCIAL BANK

By virtue of the powers conferred upon it by the Reserve Bank of India Act 1934, and the
Banking regulation Act, 1949 the relationship between the Reserve Bank of India and the
scheduled commercial banks is very close and of varied nature.

3.1 As Supervisory and Controlling Authority over Banks

OR
Supervision over commercial Banks

The Baking Regulation Act, 1949 confers wide powers upon the Reserve bank to supervise
and control the affairs of banking companies as follows:

1. Licensing of banking Companies: Section 22 requires every banking company to hold

a license from the Reserve bank to carry on the business of banking in India. The
Reserve bank is empowered to conduct an inspection of the books of the banking
company for this purpose, and to issue a license if it is satisfied that the following
conditions are fulfilled.
2. Permission for opening branches: Sc. 23 requires every banking company to take
Reserve bank’s prior permission for opening a new place of business in India or to
change the location of an existing place of business in India or outside.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 3. Power it Inspect Baking companies: Under Section 35, the Reserve Bank may either
at its own initiative or at the instance of the Central Government, inspect any banking
company’s books of accounts.
4. Power to Issue Directions: Sections 35-A confers powers on the Reserve Bank to issue
directions to a banking company or companies in the public interest or in the interests
of banking policy or to prevent the affairs of the banking company being conducted
in a manner detrimental to the interests of the depositors or in manner prejudicial to
the interest of the banking company or to secure proper management of the banking
company. Section 36 confers powers on the Reserve Bank to caution or prohibit
banking companies against entering into any particular transaction, and generally gave
advice to any banking company. It may pass orders requiring the banks to carry out
the specified instructions.
5. Control over Top management: The Reserve Bank of India has wide powers of overall
control over the top Management of banks Reserve Bank’s prior approval is necessary
for appointment or re-appointment or termination of appointment of a chairman,
managing director manager or chief executive officer.
6. Selective Credit Control.
As per the section 21 of The Banking Regulation Act, 1949 has given extensive power
to the RBI to control advances granted by the commercial banks, this power is known
as Selective Credit Control.
Apart from the selective credit control reserve bank also control the volume of credit
in a quantitative way so as to influence the total value of the bank credit.
The following are the different methods of selective credit control methods adopted by the
RBI. These measures may be classified as:
Quantitative Credit Control & Quantitative Credit Control

I. Quantitative Credit Control : the flow of quantum of credit, Reserve Bank adopts all
those measures as are generally adopted by the Central Banks in different countries.
These measures are as under:
(i) Bank Rate : it is rate of interest at which the reserve bank of India rediscount.
Bank rate is the rate at which RBI lends money to the commercial banks.
It the interest rate charged by the RBI when advancing loans to commercial bank
against bills of exchange, commercial papers etc. An increase in the bank rate is
likely to increase all other market rates, which leads the contraction of credit while
decrease in bank rate leads to expansion of credit.
When RBI increases the bank rate, the commercial banks are discouraged from
taking loans as now they have to pay a higher interest rate on loans from central
bank then before. The commercial banks in turns starting higher interest rate from
consumers seeking loans which increases the cost of credit. The high cost of credit
discourages consumers to take loans. This reduces the volume of credit in the
economy. The opposite happens when the bank rate is decreased.

(ii) Open Market Operations : Buying and selling of government securities by the RBI
in the open market is called open market operations.
When RBI buy government securities the volume of credit increases and when
securities are sold the volume of credit decreases. When commercial

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 bank make payment to the RBI for securities bought, their cash
reserves reduce which leads to a reduction in their ability create credit.
This makes advancing loans to consumers difficult for commercial
banks as they have limited funds. This leads to contraction of credit in
the economy.
(iii) Variable Cash Reserve Requirements : Reserve Bank also controls the Cash
Reserve Ratio of the commercial banks.
Bank has to keep a certain minimum percentage of their total deposits (demand
deposits + time deposits) with the RBI, that the minimum percentage is called
CRR. A change in CRR affects the credit creation capacity of the commercial
banks.
An increases in CRR result in less liquid cash deposits with the commercial banks
and a fall in the value of deposit multiplier which reduces the volume of credit
in the economy and a decrease in CRR result in more liquid cash available
with the banks and rise in the value of deposits multiplier which increases the
volume of credit.

3.2 Reserve Bank and its promotional Role

Reserve bank is the central bank of our country playing a predominant role for promoting
economic growth as per the guidelines of the Central Government.
After 1948, there are several steps have been taken by the Reserve Bank to bring up the
promotional financial institutions and well organised money market in the country.
1. RBI grants licence to open a new bank in a country as well as to open a new branch
of bank
2. Inspecting , lending policy, quality of supervision, investment etc. are done by RBI.
3. It helped in establishment of financial corporation to provide credit to the agricultural
and industrial sectors.
4. RBI started Banking facilities to rural areas by creating rural banks with the help
commercial banks .
5. RBI helped commercial banks to open branches in foreign countries.
6. RBI encourages and promote researches in the areas of banking.

Reserve Bank is the supervisory controlling authority of banks. The Baking Regulation Act,
1949 confers wide powers upon the Reserve bank to supervise and control the affairs of the
banking company.
Section 22, 23, 35, 35A, 36, 36A, 24, 21 and 42 deals with the developmental controls.

1. Section 22: Licensing of banking Companies

Every banking company to hold a license from the Reserve bank to carry on the
business of banking in India.
2. Section 23: Permission for opening branches
Every banking company to take Reserve bank’s prior permission for opening a new
place of business in India or to change the location of an existing place of business in
India or outside.
3. Section 35: Power it Inspect Baking companies

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 4. Sections 35A: Power to Issue Directions
Confers powers on the Reserve Bank to issue directions to a banking company or
companies in the public interest or in the interests of banking policy.
5. Section 36: RBI has been empowered to caution or prohibit the banking companies
against entering into any particular transaction generally give advice to any banking
company.
6. Control over Top management: The Reserve Bank of India has wide powers of overall
control over the top Management of banks Reserve Bank’s prior approval is necessary
for appointment or re-appointment or termination of appointment of a chairman,
managing director manager or chief executive officer.
7. Section 24: Maintenance of Statutory Liquidity Ratio (SLR)
Every bank shall maintain in form of cash, gold or unencumbered approved securities
an amount, which shall not, at the close of business on any day be less than 25 % of
its net demand and time liabilities in India( as specified by RBI from time to time)
8. section 21: Issue directives to the banking company to determine the policy relating
to advances be followed by them. Have an extensive power to the RBI to control
advances granted by the commercial banks, this power is known as Selective Credit
Control.
9. Section 42: Reserve bank can raise or lower down the statutory reserve maintain by
the schedule banks with the reserve bank.

3.3 RBI acts as a credit planner of the banks.

Reserve bank is the lender of commercial banks. The Reserve Bank of India controls the flow
of credit in our economy in order to keep inflation and economic growth in check. Credit
changes can cause market instability, so credit control policies must be carefully planned
before being implemented.
Its rediscounting or purchase of eligible bills.
The loans and advances against certain securities
The above mentioned are the two plans provided by the Reserve bank as a credit planner to
the banks.
Section 17(2) in BANKING REGULATION ACT,1949 , provides some categories eligible
for rediscounting by Reserve Bank,
1. Commercial bank
2. Bills for financing
3. Agricultural operations
4. Bill for financing cottages and small-scale industries
5. Bills for holding or trading in government securities
6. Foreign bills
So the bills eligible for rediscounting are required to have fixed maturity.
Commercial banks and Corporative banks are also allowed to be granted emergency advances
by the reserve bank on special occasions. If the reserve bank is satisfied, that the grant of such
loan is necessary to regulate trade, industry, commerce. Then it is allowed to the Commercial
banks and Corporative banks

3.4 Control over Non-Banking Financial Institution.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
Control of RBI over Non-Banking Financial Companies : The RBI can function effectively
and implement its fiscal and monetary policies only when the NBFCs are brought under its
control. Thus, the RBI is taking various measures to control NBFCs.
The RBI can function effectively and implement its fiscal and monetary policies only when
the NBFCs are brought under its control. Thus, the RBI is taking various measures to control
NBFCs. Of them, the important ones are listed below:

1. Control Over Deposits

The RBI regulates the activities of non-banking financial companies under the Companies
(Acceptance of Deposits) Rules, 1975. Further, the RBI exercises control over the deposit
acceptance activities of NBFCs by issuing various directives.

Examples of such directives are-

1. NBFCs (Reserve Bank) Directions, 1977.
2. The miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977.
3. The residuary Non-Banking Companies (Reserve Bank) Directions, 1987.
4. The Housing Finance Companies (National Housing Bank) Directions, 1989.

2. Ceiling Limits on Deposits

The Reserve Bank of India restricts the deposits by fixing certain ceiling limits for the
acceptance of deposits by these non-banking financial companies. Normally, these companies
are allowed to accept deposits up to 10 times of their net owned fund.

3. Regulation of Brokerage
The RBI has prescribed certain limits on the payment of brokerage to middlemen.

4. Cash Reserves
The RBI has issued directions insisting certain NBFCs like Leasing Companies and Hire
Purchase Companies to maintain 10% of their deposits in liquid assets. This is to maintain
liquidity.

5. Compulsory Registration with the RBI

All non-banking financial intermediaries with net owned funds of Rs.50 lakh and above are
now required by the RBI to register themselves compulsorily with it. This registration would
be a prerequisite for a company to expand its business further.

6. Submission of Periodical Returns to the RBI

All the Non-Banking financial companies are required to submit periodical returns to the RBI
on various matters relating to their operations.

Functions of RBI’s Departments of Financial Companies in controlling NBFCs

The Reserve Bank of India has a separate Department known as Department of Financial
Companies to deal with the NBFCs. The main objective of this Department is to exercise
some control over the NBFCs. Its central office is situated at Kolkata. It has four regional
offices.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
The main functions of the Department of Financial Companies are as follows:

1. Identification of financial companies and classify them.

2. Reviewing the classification of such companies.
3. Attending to legislative matters; issuing directions to NBFCs on various matters.
4. Advising Central and State Governments on matters relating to NBFCs.
5. To receive and scrutinize the balance sheets, returns, accounts and statements of NBFCs.
6. Inspecting the NBFCs
7. Taking follow-up action.
8. Handling those companies, which contravene any of the directions of the RBI rigidly.
9. Taking into account requests for grants of exemptions.
10. Conducting studies on the working of NBFCs.
11. Handling the complaints received from the public.
12. Doing any other work, which is incidental to the above functions.

4.LICENCING & PERMITTED FUNCTIONS

4.1 Licensing of Banking Companies:

According to Sec. 22 of Banking Regulation Act, 1949, deals with the licencing of banking
companies. This section states that no company shall carry on banking business in India unless
it holds a license issued by the Reserve Bank of India.
Such licence may be issued and subject to any condition as their reserve bank may think fit to
impose.
No company shall commence banking business without the licence. So we need to know about
,
Necessity of licence, Procedure of obtaining licence, Condition for issue of licence,
Cancellation of licence, Appeal and remedy against cancellation.

Banking system is the back bone of our economy. By licencing a banking system, it is insured
that no undesirable person or element should come in and should be prevented from taking
part in banking business. Central Indian Banking Enquiry Committee was formed for
introducing a licencing system for the foreign banks operating in India.

Every banking company in existence on the commencement of this Act, before the expiry of
six months from such commencement, and every other company before commencing banking
business [in India], shall apply in writing to the Reserve Bank for a licence under this section
Provided that in the case of a banking company in existence on the commencement of this
Act, nothing in sub-section (1) shall be deemed to prohibit the company from carrying on
banking business until it is granted a licence in pursuance of [this section] or is by notice in
writing informed by the Reserve Bank that a licence cannot be granted to it.
Provided further that the Reserve Bank shall not give a notice as aforesaid to a banking
company in existence on the commencement of this Act before the expiry of the three years
referred to in sub-section (1) of section 11 or of such further period as the Reserve Bank may
under that sub-section think fit to allow.
(The above mentioned are related to the commencement of Banking Regulation Act, 1949)

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
Mainly focus on

4.1.1 Procedure of licencing

Section 22(2): Every banking company in existence on the commencement of this Act, before
the expiry of six months from such commencement, and every other company before
commencing banking business [in India], shall apply in writing to the Reserve Bank for a
licence.

4.1.2 Section 22(3): Condition for granting licence

 Company incorporated in India.

Before granting the license under this act, the Reserve bank should be satisfied the following
conditions namely: ---
1. The banking company must be had the efficiency to pay its present and future
depositors accrual amount at their claims.
2. The affairs of the banking company should not be conducted in a manner detrimental
to the interests of its present and future depositors.
3. The general character of the proposed management of the banking company would
not be prejudicial to the public interests of its present and future depositors.
4. The banking company should have adequate capital structure and earning prospects.
5. The public interest would be served by the grant of the license to the banking company
to carry on banking business in India.
6. With regard to the banking facilities available in the proposed principal area of the
operations of the banking company, the potential scope for the expansion of banks
already in existence in that area and another factor for the grant of license should not
be prejudicial to the operation and consolidation of the banking system consistent with
monetary stability and economic growth.
7. Any other condition in consultation with the RBI, the fulfilment of that condition
should not be prejudicial to the interests/public interests of the depositors.

 Section 22(3A) Before granting any licence under this section to a company
incorporated outside India,
The Reserve Bank may require to be satisfied by an inspection of the books of the company
or otherwise that the conditions specified in sub-section (3) are fulfilled and that the carrying
on of banking business by such company in India will be in the public interest and that the
Government or law of the country in which it is incorporated does not discriminate in any
way against banking companies registered in India and that the company complies with all
the provisions of this Act applicable to banking companies incorporated outside India.

4.1.3 Cancellation of Licence

Section 22(4): The Reserve Bank may cancel a licence granted to a banking company under
sub-section 4 of Section 22 of the Banking Regulation Act, 1949:

1. If the company ceases to carry on banking business in India; or

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 2. If the company at any time fails to comply with any of the conditions imposed upon it
under sub-section 1 of Section 22 of the Banking Regulation Act, 1949
3. if at any time, any of the conditions referred to in sub-section (3) or 3(A) of Section
22 of the Banking Regulation Act, 1949
However before cancelling a licence under clause (ii) or clause (iii) of this sub-section on the
ground that the banking company has failed to comply with or has failed to fulfill any of the
conditions referred to therein, the Reserve Bank, unless it is of opinion that the delay will be
prejudicial to the interests of the company’s depositors or the public, shall grant to the
company on such terms as it may specify, an opportunity of taking the necessary steps for
complying with or fulfilling such condition.
Any banking company aggrieved by the decision of the Reserve Bank cancelling a licence
under this section may, within thirty days from the date on which such decision is
communicated to it, appeal to the Central Government.

CASE LAW: Reserve Bank Of India vs Pattem Surya Prakash Rao And Ors. on 10 October,
2007

4.1.4 Appeal and remedy against cancellation

Section 22(5): Any banking company aggrieved by the decision of the Reserve Bank
cancelling a licence under this section may, within thirty days from the date on which such
decision is communicated to it, appeal to the Central Government.

The decision of the Central Government where an appeal has been preferred to it under sub-
section (5) or of the Reserve Bank where no such appeal has been preferred shall be final.

CASE LAW : Sajjan Bank Private Limited v/s Reserve Bank of India
It has been held that the refusal of license does not mean a stoppage of business. The company
can carry on as money lender.

4.2 Branch Licencing

The opening of branches by banks is governed by the provisions of Section 23 of the Banking
Regulation Act, 1949 (the Act). In terms of these provisions, banks without the prior approval
of the RBI, cannot open a new place of business in India or abroad or change otherwise than
within the same city, town or village, the location of the existing place of business.
Section 23 of Banking Regulation Act, 1949, states that place of business for this purpose
includes any sub office, pay office, sub pay office or any place at which deposits are received
cheques, cash or money lends. Changing the location of an existing place of business with in
the same city or town or village would not need such permission.
These restrictions are also applied to the foreign branches of banking companies incorporated
in India.
Opening of a temporary place of business up to one month, for purpose of affording banking
facilities for any exhibition, mela, conference.. need not have the licence.
However temporary branch has to be with in the limits of the city. I.e. if we start a branch of
bank outside the city, we have to apply for the licence again. But it is an exception if it is
within the city itself.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
The present guidelines of RBI provide that the bank should submit their request for to the new
branches, administrative offices, ATMs once in a year for consideration of RBI as against
the earlier practice of making individual application for each and every branch.
For branching permission under section 23, Reserve bank may require to be satisfied of the;
1. financial conditions and history of the bank
2. general character of its management
3. adequacy of capital structure and earning prospects
4. public interest.
The licence will be issued after verifying the above.
All this should be done after conducting the inspection under section 35 of Banking
Regulation Act, 1949.
While granting permission for opening or shifting a branch, Reserve bank may impose any
condition. If any banks fails to comply with such condition, the permission will be revoked
and after giving an opportunity to the bank to show cause.
In the case of regional rural bank, application for permission have to be routed though the
national bank NABARD. The national bank has to offer its comments on merits to the Reserve
bank.

5.CONTROL OVER MANGEMENT OF BANKING COMPANY

The Section 36AA of Banking Regulation Act deals with control over management of
banking company. It deals with Power of Reserve Bank to remove managerial and other
persons from office.
Control over Management:
 Under Section 36AA of Banking Regulation Act, 1949 Reserve Bank of India is
empowered to remove Chairman, Director, chief executive officer, any officer or
employee of the banking company. However RBI must be satisfied that such action is
necessary for public interest or for preventing the affairs of a banking company being
conducted in a manner detrimental to the interests of the depositors or for securing the
proper management of any banking company.
 The reasonable opportunity must be given to concerned official of making a
representation to the Reserve Bank against the proposed order. The person against
whom an order of removal has been made can appeal to Central Government within
thirty days from the date of communication to him of the order. The decision of the
Central Government on such appeal shall be final and shall not be called into question
in any court.
 The person against whom an order is made by the Reserve Bank contravenes the
provisions, he shall be punishable with fine which may extend to two hundred and
fifty rupees for each day during which such contravention continues
 The Reserve Bank may appoint another suitable person in place of person who was
removed by RBI. Such person shall hold office during the pleasure of the Reserve
Bank but a period not exceeding three years or such further periods not exceeding
three years at a time. However such appointment shall not incur any obligation or
liability by reason during the execution of the duties of his office.
 As per Section 36ACA of Banking Regulation Act, 1949, the Reserve Bank may
supersede the Board of Directors of banking company if in consultation with Central
NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
 Government it is satisfied that it is necessary in the public interest or for preventing
the affairs of any banking company being conducted in a manner detrimental to the
interest of the depositors or any banking company or for securing the proper
management of any banking company.

6.ACCOUNTS & AUDIT OF BANKS

6.1 Accounts of Bank

Accounting is referred to as the process of recording, classifying, summarising and
interpreting the financial transactions, statements to determine the financial position of an
organisation. Accounting is also known as the specialised language of the business.
a. Definition: Accounting is referred to as the process of recording, classifying,
summarising and interpreting the financial transactions, statements to determine the
financial position of an organisation
b. Purpose: Accounting is done with the purpose of showing the position, profitability
and performance of the business entity or organisation
c. Objective: To determine profit and loss of the organisation or the financial position of
an organisation for a period
d. Mode of operation: Accounting is done on a daily basis, as transactions happen on a
daily basis for any business
e. Performed by: Accounting is done by accountants
f. Sequence: Accounting starts at the end of bookkeeping

6.2 Audit of bank

Auditing, on the other hand, is referred to as the process of examining the financial records
such as transactions and statements of an organisation in order to find any discrepancies
during the process of recording of the transactions and also to verify the accuracy of the
records.
Audit can be of two types namely, internal and external audit. Internal audit is conducted by
an inhouse auditor while external audits are performed by auditors who are hired from outside.
They are generally appointed by the shareholders for the purpose of auditing the accounts of
the organisation.
a. Definition: Auditing is referred to as the process of examining the financial records
such as transactions and statements of an organisation in order to find any
discrepancies during the process of recording of the transactions and also to verify the
accuracy of the records
b. Purpose: Auditing is done to verify the accuracy of data presented by accounting. It is
done with the purpose of revealing to what extent the true and fair view of records is
maintained in the transactions.
c. Objective: To determine the correctness of all the recorded transactions
d. Mode of operation: It is a periodical assessment and is done monthly, quarterly or
yearly
e. Performed by: Auditing is done by auditors
f. Sequence: Auditing starts at the end of accounting

7.LIQUDATION, AMALGAMATION & RECONSTITUTION OF BANKS

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
7.1Liquidation of Banks

Suspension of Business and Winding Up of Banking Companies

Part III of the Banking Regulation Act 1949 deals with the suspension of business and
winding-up of banking companies. Section s 38 to 44 exclusively deal with the winding up of
such companies. There are two ways by which the process to wind up any banking company
can be initiated, which are:

I. Winding up by the High Court, and

II. Voluntary winding up

The general rule for liquidating any banking company’s assets was given in the landmark case
Mann v. Goldstein [1968] 1 WLR 1091; in this case, it was held that whenever any banking
company is unable to pay off its debts it should avail the aid of judicial proceedings.

I. Winding up by the high court:

Part III Section 38 to 43 exclusively deal with the winding up of banking companies by the
High Court (hereafter referred to as “The Court”). The High Court mentioned under these
sections denote the High Court exercising jurisdiction in the place where the registered office
of the banking company in concern is situated; if it is a banking company incorporated outside
India, then the High Court exercising jurisdiction in the place where the principal office of
such company is located would be the mentioned High Court.
Section 38(1) of the Act provides the grounds based on which the Court shall order a banking
company to wound up. The grounds are:
1. The banking company is unable to pay its debts, or
2. RBI applies for the winding up of such s company under s.37 of the Act.

 Section 37 - Suspension of business / moratorium

Section 37 of the Act deals with the suspension of the banking company if it is temporarily
unable to meet its obligations. On the application submitted by such a company, the High
Court can make an order to stay any actions or proceedings against the banking company for
a fixed period, not exceeding six months. The Court must furnish a copy of the stay order to
RBI.
When the application is filed by the banking company to the Court under Section 37, the Court
may appoint a special officer to take into his control all the assets, books, documents, etc. of
the banking company.
During the suspension, if the RBI finds that the affairs of the company are detrimental to the
depositors, it can make an application to the Court for it to be wound up as per section 38 of
the Act.

 Court Liquidator/ Official Liquidator.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
A Court Liquidator is appointed by the Central Government and attached to every High Court
under Section 38A of the Act for the purpose of conducting all proceedings for the winding
up of banking companies.
He shall perform such other duties in reference to high court may impose.
The main functions of the Official Liquidator are to:
 Collect and take into his custody the assets of the banking company,
 Submit a preliminary report to the Court, and
 Conduct the winding-up proceedings.

 Section 39A. Application of Companies Act to liquidators.-

(1) All the provisions of the Companies Act, 1956 (1 of 1956), relating to a liquidator, in so
far as they are not inconsistent with this Act, shall apply to or in relation to a liquidator
appointed under section 38A or section 39.

(2) Any reference to the "official liquidator" in this Part and Part IIIA shall be construed as
including a reference to any liquidator of a banking company.

 Section 40 - Stay of proceedings

The High Court shall not make any order staying the proceedings in relation to the winding
up of a banking company,

 Section 41 - Preliminary report by official liquidator

Section 41 of the Act provides that the Official Liquidator must submit a preliminary report
to the Court within two months from the date on which the winding-up order was made

 Section 42 - Power to dispense with meetings of creditors, etc

The High Court may, in the proceedings for winding up a banking company, dispense with
any meetings of creditors or contributories if it considers that no object will be secured thereby
sufficient to justify the delay and expense.

 Section 43A -Preferential payment to depositors

Section 43A of the Act deals with preferential payment. It states that the preferential claimants
to whom Notice was served under Section 41A and had responded within one month from its
service will get priority for preferential payment. Such payment will be made or initiated by
the liquidator within three months from the date on which the winding-up order is issued by
the Court.

II. Voluntary winding up

 Section 44 - Powers of High Court in voluntary winding up

Section 44 of the Act deals with the voluntary winding up of banking companies. It states that
a banking company can voluntarily wind up only if RBI furnishes a written certification
stating the company can pay off all its debts. Meaning, a written certificate by RBI must
accompany any application filed by a banking company to the Court for its voluntary winding
up. Further, Court has the power to order the voluntary wind up to continue on its supervision.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
CASE LAW1: Reserve Bank Of India vs Palai Central Bank Ltd.
It was held that Statutory requirement that a banking
company can be wound up only with the approval of the Reserve Bank and the other
supervisory powers of banking companies has been held to constitutionally valid.
CASE LAW2 : Allahabad Bank vs Canara Bank & Another
DRT ie Debt Recovery Tribunal has over riding effect over
the provisions of Companies Act 1956, hence leave of the company court is not require even
if not the company is under winding up proceedings

While the voluntary winding up is in process, the Court, on its own motion or the application
of RBI, can order winding up by the Court itself (that is, as under Section 38 of the Act) on
the following grounds:

The banking company is unable to pay off its debts during the voluntary winding-up process;
or
When the banking company is undergoing the voluntary winding up under the supervision of
the Court, the Court finds that the winding-up cannot take place without having any
detrimental effect on the depositors.

1.2 Reconstitution or Amalgamation.

 Section 45: Power of Reserve Bank to apply to Central Government for suspension of
business by a banking company and to prepare scheme of reconstitution or
amalgamation.
For the time being in force, where it appears to the Reserve Bank that there is good reason so
to do, the Reserve Bank may apply to the Central Government for an order of moratorium in
respect of a banking company.
The Central Government, after considering the application made by the Reserve Bank, may
make an order of moratorium staying the commencement of all actions and proceedings
against the company for a fixed period of time on such terms and conditions as it thinks fit
and proper and may from time to time extend the period so however that the total period of
moratorium shall not exceed six months.

CASE LAW1: Bari Doab Bank Ltd. vs Union Of India And Others on 5 March, 1997
CASE LAW2: Ganesh Bank Of Kurundwad Ltd. And ... vs Union Of India (Uoi)

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NOTES ABOVE ARE PREPARED STRICTLY ON EXAM POINT OF VIEW FROM
LECTURES NOTES BY TEACHERS, GUIDES AND VARIOUS OTHER RELIABLE
INTERNET SOURCES.

NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM
NOTES BY : NEETHU.S, STUDENT : B.A LL.B (Hons), BATCH : 2018-2023, CSI COLLEGE FOR LEGAL
STUDIES, KANAKKARY, KOTTAYAM