School of Law

School: School of Law Programme: LL.M. Corporate and Commercial Law

Year: I Semester: II
Course: Banking and Insurance Law Course Code: PCC203

Theory: 2 Hrs/ Week Max. University Theory Examination: 50 Marks

Max Time for Theory Exam: 3 Hrs Continuous Internal Assessment: 50 Marks

Objective
1. To acquaint students with the conceptual and operational parameters of banking and Insurance
law, the judicial interpretation, and emerging dimensions of the banking and insurance system.

Unit No. Details Hours

Introduction and Social Control over Banking

 Nature and development of Banking. Evolution of Banking in India
1. and elsewhere. Different kinds of banks, their functions. 7
 Multi-functional banks- growth and legal issues. Nationalization,
liberalization etc.
Reserve Bank of India Act, 1934 and Negotiable Instrument Act, 1881
 Origin and development of RBI as a central bank, powers-functions
and objectives.
2. 8
 Meaning and kinds, transfer and negotiations, holder and holder in
due course, presentment and payment, liabilities of parties.
 Crossing of cheques and payment, dishonour of cheques.
Recent Trends in Banking System in India and Reforms in Indian
Banking Law
 New technology, information technology, automation and legal
3. aspects, 7
 Automatic teller machine and use of internet, smart card, use of
expert system, credit cards.
 Recommendations of committees: a review.
Insurance
 Introduction
 Meaning of Insurance
 Historical Aspect
 Characteristic of Insurance
 Nature of Insurance Contract
 Principles of Insurance. 8
4.
 Reinsurance
 Double Insurance
 Types of Insurance
 Life Insurance
 Marine Insurance Fire Insurance &Miscellaneous Insurance
Indemnity, Subrogation, Causa Proxima, Mitigation of Loss,
 School of Law

 Attachment of Risk, Contribution Constitution, Function And

Powers of Insurance
 The Insurance and Regulatory and Development Authority –
Establishment composition and Duties Powers and Functions;
Application of Consumer Protection Act, 1986
Total 30

Resources
Reference 1. C.Rangarajan, Handbook of Insurance and Allied Law.
Books 2. Bashyam and Adiga, The Negotiable Instrument Act, 1997
3. M.L.Tannen, Jannen's Banking Law & Practice in India, 2000
4. Dr. Avtar Singh, Negotiable Instrument Act.
5. S.N. Gupta, The Banking Law in Theory & Practice, 1999