Chapter 9 Regulation, Inspection and Supervision of the Banks

Section 76: Bank’s Approval Required for Accepting Deposits or Giving Credits

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1) Any person, firm, company, or institution shall, in order to accept any deposits or to provide a loan, obtain approval from the Bank as may be prescribed.

2) The Bank, while giving approval referred to in sub-section (1), may subject the approval to the terms and conditions prescribed by the Bank, and it shall be the duty of the concerned person, firm, company or institution to abide by such terms and conditions.

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Section 76: Bank’s Approval Required for Accepting Deposits or Giving Credits

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