Use of words "bank", "banker", "banking" or "banking company"
Section 7 of the Banking Regulation Act, 1949 deals with use of words "bank", "banker", "banking" or "banking company". No company other than a banking company shall use as part of its name [or in connection with its business] any of the words "bank", "banker" or "banking" and no company shall carry on the business of banking in India unless it uses as part of its name at least one of such words. The Act came into force on 16 Mar 1949.
1[7. Use of words "bank", "banker", "banking" or "banking company".--(1) No company other than a banking company shall use as part of its name 2[or in connection with its business] any of the words "bank", "banker" or "banking" and no company shall carry on the business of banking in India unless it uses as part of its name at least one of such words.
(2) No firm, individual or group of individuals shall, for the purpose of carrying on any business, use as part of its or his name any of the words "bank", "banking" or "banking company".
(3) Nothing in this section shall apply to--
(a) a subsidiary of a banking company formed for one or more of the purposes mentioned in sub-section (1) of section 19, whose name indicates that it is a subsidiary of that banking company;
(b) any association of banks formed for the protection of their mutual interests and registered under section 25 of the Companies Act, 1956 (1 of 1956).]
Section 7, The Banking Regulation Act, 1949 (Act 10 of 1949).
Cross-references
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Questions about Section 7
What does Section 7 of the Banking Regulation Act deal with?
Section 7 of the Banking Regulation Act is headed "Use of words "bank", "banker", "banking" or "banking company"". [7. Use of words "bank", "banker", "banking" or "banking company".--(1) No company other than a banking company shall use as part of its name [or in connection with its business] any of the words "bank", "banker" or "banking" and no company shall carry on the business of banking in India unless it u
How do I find court cases under Section 7 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 7, section 7 Banking Regulation Act 1949, section 7 of the Banking Regulation Act. People searching for it also type banking regulation act 1949 section 7. 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 7 of the Banking Regulation Act, and has it changed?
Its own text turns on section 19 (Restriction on nature of subsidiary companies), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When did Section 7 of the Banking Regulation Act come into force?
Section 7 of the Banking Regulation Act, cited as Banking Regulation Act 1949 7, 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.