Ca final : the banking regulation act, 1949
This query is : Open
29 April 2013
As per section 7, The Banking Regulation Act, 1949 restricts the use of the terms "bank", "banking", "banker" or "banking company" other than by a banking company.
My question is how can a "Blood Bank" or an "Eye Bank" use the word "Bank"?
Are they excluded from the purview of the Act?
Waiting for earliest reply........
My question is how can a "Blood Bank" or an "Eye Bank" use the word "Bank"?
Are they excluded from the purview of the Act?
Waiting for earliest reply........
30 April 2013
sub section(1) No company
other than a banking company
sub section (2)No firm, individual or group of individuals
these above are restricted in the BRA,1949
and a blood bank or a eye bank is not any of the above, hence can use this word.
other than a banking company
sub section (2)No firm, individual or group of individuals
these above are restricted in the BRA,1949
and a blood bank or a eye bank is not any of the above, hence can use this word.
30 April 2013
Dear Sir,
Thank You for your reply....
But I still have a doubt regarding the type / form of organization these blood bank and eye banks are ?
Waiting for earliest reply....
Thank You for your reply....
But I still have a doubt regarding the type / form of organization these blood bank and eye banks are ?
Waiting for earliest reply....
30 April 2013
THESE BANKS ARE JUST NAME OF FACILITIES PROVIDED BY MANY ORGANISATION , WHICH MAY BE A HOSPITAL, CHARITABLE OR RELIGIOUS TRUST, A GROUP OF PEOPLE, UNINCORPORATED AOP OR SOCIETIES ETC,
SO IT DEPENDS WHO'S PROVIDING THE SERVICE.
BLOOD BANK ITSELF IN NOT ANY PERSON.
SO IT DEPENDS WHO'S PROVIDING THE SERVICE.
BLOOD BANK ITSELF IN NOT ANY PERSON.
30 April 2013
I sincerely thank you sir for your reply....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
