Section 20A: Restrictions on power to remit debts.

Q: What does Section 20A of The Banking Regulation Act, 1949 (BR Act) deal with?

Section 20A BR Act pertains to "Restrictions on power to remit debts.". It is part of the The Banking Regulation Act, 1949, a legislation enacted by the Parliament of India. Section 20A of The Banking Regulation Act, 1949 (BR Act) governs restrictions on power to remit debts. As verified on 22 May 2026.

Q: Is Section 20A BR Act still in force?

Yes, Section 20A of the The Banking Regulation Act, 1949 is currently in force across the Republic of India.

Q: What is धारा 20A BR Act?

धारा 20A BR Act is the Devanagari Hindi reference for Section 20A of the The Banking Regulation Act, 1949. Section 20A of The Banking Regulation Act, 1949 (BR Act) governs restrictions on power to remit debts. As verified on 22 May 2026.

Q: What is Dhara 20A BR Act?

Dhara 20A BR Act is the Roman Hindi reference for Section 20A of the The Banking Regulation Act, 1949. "Dhara" means "Section" in Hindi. Section 20A of The Banking Regulation Act, 1949 (BR Act) governs restrictions on power to remit debts. As verified on 22 May 2026.

Q: How to cite Section 20A of The Banking Regulation Act, 1949?

Cite as: "Section 20A, The Banking Regulation Act, 1949 (BR Act)" in legal briefs. For academic writing, use the BlueBook format: The Banking Regulation Act, 1949, 1949, § 20A (India).

Law on Tips Editorial Board

1[20A. Restrictions on power to remit debts.—(1) Notwithstanding anything to the contrary contained in section 293 of the Companies Act, 1956, (1 of 1956) a banking company shall not, except with the prior approval of the Reserve Bank, remit in whole or in part any debt due to it by—

(2) Any remission made in contravention of the provisions of sub-section (1) shall be void and of no effect.]1 . Ins. by Act 55 of 1963, s. 12 (w.e.f. 1-2-1964).