Section 19 of BRA : Section 19: Restriction On Nature Of Subsidiary Companies

BRA

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Explanation using Example

Imagine a bank named "SafeBank," which primarily offers traditional banking services. SafeBank wants to diversify its operations and considers forming a new company to manage a chain of ATMs across the country. According to Section 19(1)(a) of the Banking Regulation Act, 1949, SafeBank is allowed to create a subsidiary for this purpose, as operating ATMs falls within the range of banking activities permitted under Section 6.

In another scenario, SafeBank may wish to establish a banking presence in a foreign country...

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