Banking Regulation Act, 1949 — back to Table of Contents
Section 47. Cognizance of offences
No court can take cognizance of an offence punishable under section 46, or under section 36AA(5), except on a written complaint made by an officer of the Reserve Bank (or, where relevant, the National Bank for Agriculture and Rural Development) who has been generally or specially authorised in writing to make such a complaint.
Further, no court below the level of a Metropolitan Magistrate or a Judicial Magistrate of the first class (or a superior court) may try such an offence.
Note: This section was inserted by the Banking Laws (Miscellaneous Provisions) Act, 1963, with subsequent amendments extending it to the National Bank and updating the magistrate-level requirement.
