Optional Papers (Any Two): a. Negotiable Instruments, Banking and Insurance Laws
Guru Gobind Singh Indraprastha University · LL.B. Semester 5 · LLB 307
Unit I — Banking System in India
a. Historical Development of Banking System in India · b. Bank Nationalization and Social Control · c. Salient features of Banking Regulation Act,1949 (Definitions, functions of banks and powers of RBI), Commercial & Investment Banking · d. Relationship between Banker and Customer, KYC Norms, · e. Banking Ombudsman and Application of Consumer Protection Law in Banking Services
Unit II — Lending, Securities and Recovery Process by Banks
a. Principles of Lending · b. Nature of Securities, Collateral and other Securities · c. Scope, Nature and process of recovery under Recovery of Debts and Bankruptcy Act,1993 · d. Non-performing Assets and Role of SARFAESI, 2002, Important Definitions and Enforcement of Security Interest · e. Willful Defaulter and Nature of Bank Fraud (Applicable laws and RBI Guidelines)
Unit III — The Negotiable Instrument Act, 1881
a. Definition and Kinds of Negotiable Instruments · b. Holder and Holder-in-Due Course · c. Material Alterations and Crossing of Cheque,etc. · d. Dishonour of Negotiable Instruments
Unit IV — Insurance Law
a. Nature and Fundamental Principles of Insurance Contracts · b. Kinds of Insurance:Life Insurance, Fire Insurance, Marine Insurance and Medi- claim Insurance · c. Motor Vehicles Insurance (with reference to Third Party Insurance), MACT · d. Powers, Duties of Insurance Regulatory Development Authority under IRDA Act 2002 · e. Application of Consumer Protection with reference to Insurance Services
- 1. 1 Insurance: Definition, Nature, Scope, History, Its future, need and importance in India and across the globe
- Life Insurance — Nature, Principles and Scope Events insured against life, life insurance
- Marine Insurance: Nature and Scope — Classification of Marine policies — The salient features of the Marine Insurance Act, 1963, Insurable interest, Insurable value, Seaworthiness, Hull and Cargo Insurance
- Fire Insurance: Nature and scope of Fire Insurance — Basic Principles — Conditions & Warranties, Right & Duties of Parties, Claims and other
- Motor Vehicles Act, 1988, Salient features, (Chapter — VIII), Nature and Scope, persons
- Insurance Regulatory and Development Authority (IRDA) Act, 1999, IRDAI, its functions, role, structure