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?
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.
CAclubindia
