COPRA,1986

Consumer means any person who buys

any goods or services for a consideration
either partly or fully paid or partly or fully
promised or both includes any beneficiary
of goods or services other than the person
who paid consideration but does not
include a person who avails such services
for a commercial purposes.

COMPLAINT
Should be in writing
If unfair or restrictive trade practices is
adopted by the service provider (Bank)
Service suffers from defect
Charging excessive price as displayed or
agreed to
Hazardous to life and safety of the public
when used

OTHER FEATURES OF COPRA

Informing the other party
Asking their version in the matter within 30
days
If denied by the other party, the District
Forum proceeds further
Appeal within 30 days to State
Commission
Claim up to Rs.20.00 lac

 State Commission for amount above

Rs.20.00 lac to Rs.1.00 crore
National Commission for amount above
Rs.1.00 crore
Appeal to National Commission within 30
days of verdict by aggrieved party
Appeal to Supreme Court within 30 days
from the date of verdict by NC
Decision within 03 months from the date of
admission of complaint
Appeal to be disposed within 90 days

 Non-compliance of decision attracts

punishment minimum 01 month to 03
years imprisonment or fine minimum
Rs.2000/ to Rs.10000/- or both.
Frivolous or vexatious complaint may be
dismissed and complainant may be
ordered to pay the cost to opposite party
Maximum Rs.10000/ Complaint to be lodged within 02 years
from the date of cause of action
On each appeal, 50% of the decreed
amount to be deposited with the appellate
authority or Rs.25000/-, Rs.35000/- &
Rs.50000/-.

RIGHTS OF CUSTOMER
BANKING CODES & STANDARDS BOARD OF
INDIA
Opening of accounts
Information on interest rates, fees , charges ant
tariffs
Terms and conditions of a service or product.
Changes to be advised within 30 days and the
customer can close the account within 60 days

 Privacy and confidentiality of informations

Collection of banks dues with courtesy,
fair treatment and persuasion
Complaints, grievances and feed back
Recourse to Ombudsman
Account to be closed within 05 working
days of receiving the instruction
Account transfer within 02 weeks
Minimum 30 days notice , if the bank
wants to close the customers account at
its own

 Shifting or closer of a branch to be

advised at least 03 months in advance or
02 months in advance.
Payment of balance in the accounts of
deceased account within 15 days from the
date of submission of papers.
Having details of cheques collection policy
of the bank
Stop payment facility
Standing instruction on the accounts
Pre mature withdrawal of deposits, loan
facility in case of term deposit accounts

BANKING REGULATION ACT,1949

Section 17:-Minimum 20 % of profit to be
transferred to reserve fund before
declaring dividend by a banking company.
Sec.19:- Restriction on holding shares of
any company for amount not exceeding
30 % of its own Paid up Capital+Reserves
or 30 % of the companys paid up capital,
whichever is less.

BR ACT1949(contd)
Sec20: No loan against its own shares
Sec23: RBIs prior permission before
opening any new branch
Sec24: SLR to be maintained by the banks
Sec26: Return on unclaimed deposits for
more than 10 years within 30 days from the
end of a calendar year
Sec45ZA to 45ZF:Nomination facility

RBI ACT,1934
Sec31: Restriction on drawing a DD
payable to bearer on demand
Sec42: CRR at discretion of RBI 22/06/06
Sec49: Announcement of bank rates, The
standard rate at which RBI is prepared to
buy or rediscount bill of exchange or
commercial papers eligible for purchase.
Sec58(b): Penalty for drawing a DD
payable on demand

SBI ACT,1955
Sec34: SBI will not acquire any immovable
property except for the purpose of
providing buildings or other
accommodation
Sec45: No provision of law relating to the
winding up of companies shall apply to
SBI
Regulation3- Shares of SBI are movable
properties

SBI ACT,1955 (Contd)

Reg 61: Defines indebtness, loan or
advance, relatives, specified securities
Reg65: Employee not to grant loan or
advance to himself
Reg66: Employee not to grant loan to
his/her relatives
Reg80: The seal of SBI

INDIAN CONTRACT ACT 1872

Sec11: Minors, lunatics are incompetent to
enter into any contract
Sec25(3): An agreement without
consideration is void unless it is a promise
to pay a time barred debt
Sec68: Advances to minors for necessities
of life(quasi contract) are valid contracts
Sec124: Defines Indemnity

INDIAN CONTRACT ACT,1872

Sec126: Defines guarantee
Sec128: Suretys liability is co-extensive
Sec130: A continuing guarantee may be
revoked by the surety as to future
transactions by notice to the creditor
Sec131: Death of surety revokes a
continuing guarantee for future
transactions

INDIAN CONTRACT ACT,1872

Sec134: Discharge of surety by release or
discharge of principal debtor by account of
omission of the creditor
Sec140: Rights of surety on payment or
performance: he is invested with all the rights
which the creditor has against the principal
debtor
Sec133: Any variance made without the suretys
consent in terms of contract discharges the
surety

INDIAN CONTRACT ACT,1872

Sec151: Bailee is bound to take reasonable care
of goods bailed to him
Sec190: An agent cannot generally delegate his
authority
Sec201 Termination of agency on the death or
insolvency or insanity of the principal
Sec202: Agency is not terminated where agent
himself has an interest in the property which
forms the subject matter of agency

INDIAN PARTNERSHIP ACT,1932

Sec19: Each partner is an accredited
agent to the firm and other partners
Sec20: Partners by contract can extend or
restrict the implied authority of a partner
Sec25: Every partner is liable jointly with
all other partners & severally for all the
acts done by the firm while he is a partner
Sec30: A minor may be admitted only to
the benefits of a partnership

INDIAN PARTNERSHIP ACT

(contd)
Sec42: Dissolution of partnership firm on
the happening of death/
insolvency/insanity of a partner
Sec68: Registration of a partnership is
optional
Sec69: Effects of non-registration of the
firm

INDIAN PARTNERSHIP ACT,1956

Sec11: Prohibition of associates and
partnerships exceeding 10 for firms carrying on
the business of banking & 20 for firms carrying
on any other business
Sec125(1)(d): Charge created on the assets of a
company should be registered within 30 days of
its creation
Sec130(3): A search in registrars office regarding
existence of prior charge over the companys
assets should be made before granting
advances to a company

INDIAN COMPANIES ACT,

THANK YOU