Home Â» Banking Lawyers in Chandigarh
Lawyers with over 38 years of standing and thousands of rightly resolved matters. START CONSULTING:
B&B Associates LLP standout with its thorough knowledge, experience, and diligent dealings in the legal arena. Whether there is a need for legal advice in banking and finance matters or complete legal assistance for banking issues, our banking and finance lawyers in Chandigarh can come up with the most viable recourse. As far as Banking law is concerned, from the Banking Regulations Act, 1949 till now many amendments took place showing its dynamic nature. To bring up a broad concept, banking law in India is based upon 2 major acts (legislation) in India. First being the banking regulations act, 1949 and secondly reserve bank of India act, 1934, these 2 acts are the building blocks of any banking law in India.
Since the legal framework of the banking business and financial services are administered primarily by the Banking Regulation Act, 1949. Then the Reserve Bank of India Act, 1934 (RBI Act) authorizes (RBI) to issue rules and regulations, along with some directions and guidelines on a wide range of issues. Predominantly, RBI is the central banking institution of India, controlling all the monetary policies of India. It makes sure that India is not out of shares even during the economic crisis.
We at B&B Associates have a team that has vast experience in the areas of banking and finance. Our veteranÂ lawyers for banking matters in Chandigarh are skilled in dealing with vital aspects of banking and finance such as debt restructuring, project finance, customer related issues, etc.
With the passage of time, digitization has also evolved to a greater extent in the banking sector. Digital payments are more preferred and the cashless economy is being promoted hugely. But with that, banking frauds and other related issues are on an increase. In addition to assisting clients in such fraudulent matters, our team of experiencedÂ banking and finance lawyers in Chandigarh are also sought for legal advice due to being well informed with the RBI rules, regulations and functioning. The functions of RBI included:
Other financial sector managers include:
The RBI often communicates closely with the SEBI, IRDAI, working together to regulate banking activities. Also, The Ministry of Finance, through its Department of Financial Services:
If an entity wants to conduct any banking services, it is important that they obtain a license by applying to the RBI. And once the license is obtained, that banking company can conduct supplementary business such as borrowing and lending, trade finance, guarantee, and indemnity business, financial leasing and hire purchase. In case if an entity proposes to deal in foreign exchange, then it needs a separate license from the RBI issued under the Foreign Exchange Management Act.
Only authorized dealers have approved powers to facilitate foreign exchange and cross-border transactions. In order to have a bank license application is given to the RBI which is set out according to the norms of Banking Regulation (Companies) Rules, 1949. Therefore it is important for the Foreign banks before they carry on banking business in India, to obtain banking, notwithstanding whether they are licensed in their home state. And for debt-related matters, our team of veteranÂ DRT lawyers in Chandigarh are acclaimed in that legal arena too.
An expert banking advocate should not only be familiar with the RBI rules but also need to have profound knowledge regarding other bank rules running throughout India. Our seasoned and topÂ banking lawyers in Chandigarh are well-versed with the legal framework under which different banks operate in India.
In order to promote small businesses, migrant workers, unorganized sectors, RBI has introduced the following categories of banks: Payment banks, Small finance banks. And there are some non-banking financial companies (NBFCs) that are registered with RBI. Most probably these companies do undertake financial activities such as investment, hire-purchase, leasing, factoring and lending, subject to the RBI Act and RBI regulations but are not regulated as banks.
The organizational requirements of banks are governed under The Banking Regulation Act where such business can only be conducted by a company. Private banks are incorporated under as a company under the Companies Act and the State-owned banks are incorporated under specific statutes. Consequently, the new Banking Regulation (Amendment) Bill 2017, the power of RBI will increase with respect to issues related to Stressed assets. Therefore any proceedings that will take place, will be under the Insolvency and Bankruptcy Code, 2016.
Banking is the backbone of any economy as it is the ultimate source of financial resources to public, government, and private sector as well. So in addition to bolstering the financial status of our banks, the government has also designed various legal policies and authorities to address the matters related to banking. Our eminent lawyers in ChandigarhÂ are skilled in dealing with the legal aspects of different banking operations.
The team of VeteranÂ lawyers for banking matters in Chandigarh does understand what the client wants to achieve and provides focused and beneficial practical approach. The clientele of B&B Associate include multinationals, non-banking financial companies, public and private sector banks (both national and international). Therefore adored as the foremost choice for Acclaimed finance lawyers, advocates, and legal advisors in Chandigarh.
**We deject un-ethical and immoral practices, and reserve our rights of extending legal services only to a select clientele which exhibits civility, faith in law, sound moral footing, and good conscience. Our legal counsels defend the ones who have falsely been implicated, and prosecute for those who have actually been victimized â€“ in either case, our counsels reserve their right of exercising discretion in accepting or rejecting a brief/ lawsuit
Public Dealing and Work Timings
Mon â€“ Fri: 10:00am to 6:00pm
Saturday & Sunday: on prior and special request, depending on availability.
Amidst several reforms presented by the Government for the promotion of â€˜Ease of Doing Businessâ€™ in India, one landmark development in tRead more
The Indian economy, since the 1991 reforms has been on a growth trajectory and several advanced steps have been taken in all fields such asRead more
The real-estate sector in India is booming and every smart investor wants to make money out of this opportunity, so investing in the same isRead more
A notice served under Section 138 of theÂ Negotiable Instruments Act should be issued within one month of the bounce of the cheque is sent tRead more
Central Bureau of Investigation (CBI) has booked Delhi-based private sector dairy company Kwality Ltd for defrauding a consortium of 10 banks led by BRead more
Leaving millions of users stunned, Google has taken down the Fintech Company’s online payment app, Paytm from the Google play store. One of theRead more
After discovering the withdrawal of a huge amount of money from the temple trust fraudulently, an FIR has been registered by Ram Temple Trust SecretarRead more
Supreme Court on Tuesday, has given 10 years time frame to the Telcos in connection to the payment of Adjusted Gross Revenues (AGR). The court has denRead more
Google India Digital Services Pvt Ltd on Wednesday has filed its response with Delhi High Court stating that Google Pay doesn’t require any authRead more
The Madras High Court in its recent order has propounded that the time limit for availing Transitional Input Tax Credit (ITC) is mandatory in nature,Read more
On 7 December, the Supreme Court directed the Centre to look into public interest litigation (PIL) filed by one Satish Bhardwaj, against the Reserve BRead more
As per sources, the Finance Ministry declined to share details of the Indian Swiss bank accounts and the black money received from the foreign countriRead more
Recent Landmark Judgements