Solve 10+ bank matters cases with the best Banking Advocates in Kolkata

It is sad but true that sometimes you too need the help of lawyers while dealing with a bank or vice versa. I mean often banks also need the help of lawyers in some cases. If you are not getting the required help from your bank or finding something fishy, you should not make a delay to contact the best Banking Advocates in Kolkata.

How many types of bank legal matters and what are they with the act?

Probably, there is no area left where you do not see the applications of the law. Be it a domestic case of an issue in the bank, laws and expert lawyers are always there in order to help people at the best level. Be it Loan settlement Lawyers in Kolkata or bank matters advocates- you can get help from Advocate Shilpi Das & Ak Legal Advisors (9874371127) / RD Lawyers & Associates Advocate  Anulekha Maity (7003746750) / RD Lawyers & Associates Advocate Puja Roy (7595880945) always. There are some bank legal matters or laws that you should know now. 

1. Reserve Bank of India Act, 1934

Reserve Bank of India Act, 1934 was activated in order to constitute RBI with objectives for the proper regulation of the issues of banknotes, ensuring stability in the monetary system, operate the currency of the nation, and keep the credit system effective. 

2. Banking Regulation Act, 1949

This act is known as one of the most valuable legal frameworks for banks. Previously it was passed as the Banking Companies Act, 1949 but now it has turned into Banking Regular Act. 

3. Prevention of Money Laundering Act, 2002

You may know that RBI is the supervisor of banking companies in India. According to this law, all banks need to follow some guidelines provided by RBI so that banks can remain safe from any kind of money laundering. In order to keep banking practices safe and transparent, such an act has taken place in the genre. 

4. Foreign Exchange Management Act, 1999

It mainly deals with the regulation and management of foreign exchange. Its primary aim is to amend laws that are related to foreign exchange. We can say that this is actually an initiative to develop the foreign exchange market and increase foreign trade and payments. 

5. Limitation Act, 1963

With the help of this act, a bank gets the strength to take action against the borrower in case he/she defaults on his loan payments. 

6. Recovery of Debts Due to Banks and Financial Institutions Act, 1993

This act revolves around the speedy recovery of debt. This act is applicable to any bank, financial institution, etc., and the debt amount should be more than 10 Lakhs. 

7. Lok Adalats under Legal Services Authority Act

This authority act has been developed under the Legal Services Authorities Act, 1987. It is all about bringing dispute settlement mechanisms and it is applicable all over India. 

8. SARFAESI Act, 2002

The primary aim of this act is to regulate securitization and reconstruction of financial assets along with ensuring security interest. 

9. Lenders Liability Act

This act has been set by the government of India and here RBI has set a set of codes and they are known as ‘Fair Practice Code for Lenders’. 

10. Banking Ombudsman

It is actually a grievance redressal system. One can take the help of this law against a bank’s deficiency of service. 

Apart from this, there are other laws too such as The Consumer Protection Act, 1986, Bankers’ Book Evidence Act, 1891, Tax Laws applicable to Banking Operations, and so on. 

In order to know more about banking laws or banking matters, you should take the help of a Bank matters advocate. Or if you need help for a particular bank-related legal matter, You should contact the best Lawyer for banking issues of your locality.