Establishment of Depositor Education and Awareness Fund
Section 26A of the Banking Regulation Act, 1949 deals with establishment of Depositor Education and Awareness Fund. The Reserve Bank shall establish a Fund to be called the Depositor Education and Awareness Fund (hereafter in this section referred to as the Fund). The Act came into force on 16 Mar 1949.
1[26A. Establishment of Depositor Education and Awareness Fund.--(1) The Reserve Bank shall establish a Fund to be called the Depositor Education and Awareness Fund (hereafter in this section referred to as the Fund).
(2) There shall be credited to the Fund the amount to the credit of any account in India with a banking company which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years, within a period of three months from the expiry of the said period of ten years:
Provided that nothing contained in this sub-section shall prevent a depositor or any other claimant to claim his deposit or unclaimed amount or operate his account or deposit account from or with the banking company after the expiry of said period of ten years and such banking company shall be liable to repay such deposit or amount at such rate of interest as may be specified by the Reserve Bank in this behalf.
(3) Where the banking company has paid outstanding amount referred to in sub-section (2) or allowed operation of such account or deposit, such banking company may apply for refund of such amount in such manner as may be specified by the authority or committee referred to in sub-section (5).
(4) The Fund shall be utilised for promotion of depositors' interests and for such other purposes which may be necessary for the promotion of depositors interests as may be specified by the Reserve Bank from time to time.
(5) The Reserve Bank shall, by notification in the Official Gazette, specify an authority or committee, with such members as the Reserve Bank may appoint, to administer the Fund, and to maintain separate accounts and other relevant records in relation to the Fund in such forms as may be specified by the Reserve Bank.
(6) It shall be competent for the authority or committee appointed under sub-section (5) to spend moneys out of the Fund for carrying out the objects for which the Fund has been established.]
Section 26A, The Banking Regulation Act, 1949 (Act 10 of 1949).
Questions about Section 26A
What does Section 26A of the Banking Regulation Act deal with?
Section 26A of the Banking Regulation Act is headed "Establishment of Depositor Education and Awareness Fund". [26A. Establishment of Depositor Education and Awareness Fund.--(1) The Reserve Bank shall establish a Fund to be called the Depositor Education and Awareness Fund (hereafter in this section referred to as the Fund).
How do I find court cases under Section 26A of the Banking Regulation Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Banking Regulation Act 1949 26A, section 26A Banking Regulation Act 1949, section 26A of the Banking Regulation Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When did Section 26A of the Banking Regulation Act come into force?
Section 26A of the Banking Regulation Act, cited as Banking Regulation Act 1949 26A, came into force on 16 Mar 1949, having been enacted on 10 Mar 1949. It is in force as at the date shown on this page.
Other sections of this Act
- 56. Act to apply to co-operative societies subject to modifications5544 words
- 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 amalgamation2310 words
- 10B. Banking company to be managed by whole time chairman1171 words
- 5. Interpretation1164 words
- 43A. Preferential payments to depositors1031 words
- 11. Requirement as to minimum paid-up capital and reserves988 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.