Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

Banking Regulation (Companies) Rules, 1949

FORM III: Form of application for a license to commence banking business by a company incorporated in India and desiring to commence banking business.

[ Rule 11 ]

Address _______________
Date _________________

Department of Banking Operations and Development,

Reserve Bank of India,


Dear Sir,

Application for a license to commence banking business.

We hereby apply for a license to commence banking business in terms of section 22 of the Banking Companies Act, 1949. We give below the necessary information in the form prescribed for the purpose.

Yours faithfully,

Signature ___________

1. Name of the company.
2. Place of location of the registered office of the company.
3. State whether the company is public or private.
4. Date of incorporation.
5. Previous application : Give particulars of any application previously made to the Reserve Bank in this connection.
6. Management:
(a) Give names, business and address of Directors, the amount of shares held by each and the names of the bankers of each of them.
(b) Give the name of the proposed Chief Executive Officer, his qualifications, experience, age and the proposed remuneration.
7. State detailed reasons for the floatation of the company and give statistical and other data as under, which may have been collected in respect of the area which the company intends to serve.
( i ) The population of the area of operation of the proposed place of business.
(ii) The volume and value of agricultural, mineral and industrial production and imports and exports of the area of operation of the proposed place of business as under:
Commodity Production Imports Exports
Volume Value Volume Value Volume Value
1 2 3 4 5 6 7
(iii) If there are any schemes for agricultural, mineral or industrial development give details of the same and their probable effects on the volume and value of the present production, imports and exports.
(iv) If the existing banking facilities are considered inadequate, give reasons.
(v) Prospects : Give as under an estimate of the minimum business which the company expects to attract at the proposed place of business within 12 months.
I. Deposit: Amount in thousand of rupees Rates proposed to be allowed on various types of deposits Minimum/ Maximum
II. Advances: Amount in thousand of rupees Rate proposed to be charged on various types of advances Minimum/ Maximum
8. Forward an up-to-date copy of the Memorandum and Articles of Association and a copy of the prospectus (with certified translation in English, if not in that language).
9. State whether the company fulfils the conditions laid down in sub-section (3) of section 11, and whether it is agreeable to permit the Reserve Bank to satisfy itself by an inspection of the books of the company or otherwise that the prescribed conditions are being fulfilled by the company.
10. Any additional facts which the company may wish to adduce in support of its application. 
NB : (1) If an application is for commencing banking business at Bombay, Calcutta, Madras, Delhi, Kanpur , Trivandrum 18[Hyderabad], Bangalore or any other place where an office of the Department of Banking Operations and Development, Reserve Bank of India, is located, the details asked for under item 7( i ), (ii), and (iii) need not be supplied.
(2) If a company is unable or unwilling to supply full details in respect of any of the items, reasons for the omission may be given.
(3) If an application has been submitted to the Reserve Bank in the past, information under items 2, 3, 4, 6, 7 and 8 need not be supplied unless there is any change since the last application.

Banking   Regulation (Companies) Rules, 1949 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys