Section 45R of the Banking Regulation Act, 1949: Power to Call for Returns and Information
Section 45R empowers the Reserve Bank of India to require the liquidator of a banking company to furnish statements or information relating to, or connected with, the winding up of that banking company. The requirement must be made by notice in writing, and the liquidator is under a statutory duty to comply within the time specified or within any further time allowed by the Reserve Bank.
Statutory text of Section 45R
45R. Power to call for returns and information. - The Reserve Bank may, at any time by a notice in writing, require the liquidator of a banking company to furnish it, within such time as may be specified in the notice or such further time as the Reserve Bank may allow, any statement or information relating to or connected with the winding up of the banking company; and it shall be the duty of every liquidator to comply with such requirements.
Explanation. - For the purposes of this section and Section 45Q, a banking company working under a compromise or arrangement but prohibited from receiving fresh deposits shall, as far as may be, be deemed to be a banking company which is being wound up.
Meaning and scope of Section 45R
Section 45R is a supervisory provision dealing specifically with a banking company in winding up. It gives the Reserve Bank an express statutory channel for obtaining information from the liquidator so that the regulator can remain informed about matters connected with the winding-up process.
- Authority: The power is vested in the Reserve Bank of India.
- Person required to respond: The liquidator of the banking company.
- Form of requirement: The Reserve Bank must issue a notice in writing.
- Information covered: Any statement or information relating to or connected with the winding up of the banking company.
- Time for compliance: The notice may prescribe a time limit, and the Reserve Bank may allow further time.
- Nature of duty: Compliance by the liquidator is mandatory because the section expressly states that it is the duty of every liquidator to comply.
Why Section 45R matters in a bank winding up
A banking company holds deposits and other financial obligations involving the public. In a winding up, regulatory oversight remains important even though the institution is no longer carrying on ordinary banking business. Section 45R supports that oversight by enabling the Reserve Bank to obtain relevant information directly from the liquidator.
The provision should be read with the surrounding winding-up provisions of the Banking Regulation Act, particularly Section 45P, under which the Reserve Bank may tender advice in winding-up proceedings, and Section 45Q, which deals with the Reserve Bank's power to inspect.
Explanation to Section 45R
The Explanation expands the practical operation of Sections 45Q and 45R. A banking company may technically be functioning under a compromise or arrangement rather than being formally wound up. If it is prohibited from receiving fresh deposits, the statute directs that, as far as may be, it is to be treated as a banking company being wound up for the purposes of these two sections.
This deeming provision helps ensure that the Reserve Bank's inspection and information-gathering powers are not defeated merely because the bank is operating under a compromise or arrangement instead of a formal winding-up order.
Related provisions
Practical summary
In simple terms, Section 45R allows the Reserve Bank to ask a bank liquidator, in writing, for information about the winding up. The liquidator must provide the requested information within the allowed time. The same framework can also apply, through the statutory Explanation, to a bank operating under a compromise or arrangement when it is barred from accepting fresh deposits.
Last reviewed: 13 September 2026. Readers should verify the latest statutory text and amendments from official Government of India sources before relying on this page for a legal proceeding.