This comprehensive lecture provides a complete course on Banking Law and Practice in India, tailored for law students and competitive exam aspirants. It covers the evolution of banking, the regulatory framework under the RBI Act and Banking Regulation Act, and the debtor-creditor relationship. The session also delivers in-depth analysis of the Negotiable Instruments Act, cheque dishonour proceedings under Section 138, recovery via DRT and the SARFAESI Act, and digital banking regulations.
In this video you will learn:
• Understand the evolution of Indian banking and the constitutional Bank Nationalisation case
• Master the statutory regulatory powers of the RBI and provisions of the Banking Regulation Act, 1949
• Analyze the legal relationship between banker and customer including lien, set-off, and secrecy
• Distinguish between promissory notes, bills of exchange, cheques, and endorsements under the NI Act
• Learn the statutory protections available to paying and collecting bankers
• Examine criminal liability, statutory presumptions, and jurisdiction under Section 138 of the NI Act
• Understand debt recovery mechanisms under the RDB Act and enforcement procedures under the SARFAESI Act
• Explore digital banking regulations, electronic transaction liability, and FinTech frameworks
Topics covered:
• Evolution of Banking and Bank Nationalisation
• Constitution and Statutory Powers of RBI
• Regulatory Framework under Banking Regulation Act, 1949
• Winding Up and Licensing of Banking Companies
• Banker and Customer Legal Relationship
• Rights and Duties of Bankers
• Special Classes of Customers and Account Types
• Negotiable Instruments: Notes, Bills, and Cheques
• Holder, Holder in Due Course, and Crossing of Cheques
• Protection of Paying and Collecting Bankers
• Dishonour of Cheques under Section 138 and Trial Procedure
• Principles of Bank Lending and Securities
• NPA Norms, DRT, and SARFAESI Act, 2002
• Electronic Payments, Card Regulations, and Cyber Fraud
• FinTech, Digital Lending, and Integrated Ombudsman Scheme
Important case laws:
• Rustom Cavasjee Cooper v. Union of India (1970)
• V. T. Khanzode v. Reserve Bank of India (1982)
• Foley v Hill (1848)
• Devaynes v Noble (1816)
• Tournier v National Provincial and Union Bank of England
• Bharat Barrel & Drum Manufacturing Company v. Amin Chand Payrelal (1999)
• Modi Cements Ltd. v Kuchil Kumar Nandi (1998)
• Dashrath Rupsingh Rathod v State of Maharashtra (2014)
• Meters and Instruments Private Limited v Kanchan Mehta (2017)
• State Bank of India v. Rajesh Agarwal (2023)
Statutory provisions discussed:
• Section 42, Reserve Bank of India Act, 1934
• Section 5(b), Banking Regulation Act, 1949
• Section 21A, Banking Regulation Act, 1949
• Section 171, Indian Contract Act
• Section 13, Bank Nationalisation Act of 1970
• Section 131, Negotiable Instruments Act, 1881
• Section 138, Negotiable Instruments Act
• Section 17, SARFAESI Act
Useful for: LL.B. (3-year and 5-year integrated), UGC NET Law, CLAT PG and University semester exams.