Powers of Reserve Bank not to apply to International Financial Services Centre
Section 51A of the Banking Regulation Act, 1949 deals with powers of Reserve Bank not to apply to International Financial Services Centre. Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,-- (a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2 The Act came into force on 16 Mar 1949.
1[51A. Powers of Reserve Bank not to apply to International Financial Services Centre.-- Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,--
(a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005);
(b) shall be exercisable by the International Financial Services Centres Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019,
in so far as regulation of financial products, financial services and financial institutions that are permitted in the International Financial Services Centres are concerned.]
Section 51A, The Banking Regulation Act, 1949 (Act 10 of 1949).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 51A
What does Section 51A of the Banking Regulation Act deal with?
Section 51A of the Banking Regulation Act is headed "Powers of Reserve Bank not to apply to International Financial Services Centre". [51A. Powers of Reserve Bank not to apply to International Financial Services Centre.-- Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Reserve Bank under this Act,-- (a) shall not extend to an International Financial Services Centre set
How do I find court cases under Section 51A 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 51A, section 51A Banking Regulation Act 1949, section 51A of the Banking Regulation Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 51A of the Banking Regulation Act, and has it changed?
Its own text turns on International Financial Services Centres Authority Act 4 (Establishment and incorporation of Authority), so none of them can safely be read on its own.
When did Section 51A of the Banking Regulation Act come into force?
Section 51A of the Banking Regulation Act, cited as Banking Regulation Act 1949 51A, 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 22 Oct 2026. This page is not a substitute for legal advice.