What is the way to become a banking lawyer?

Banks have a lot of legal work nowadays and thus they hire a large number of lawyers to serve both as In-house counsels, and they also appoint various independently practicing Lawyers and Law Firms to serve as “Panel Lawyers” for outsourced work or for advisory functions. Experienced lawyers can also be retained by a Bank as a special Advisor for litigation matters. Lexwork is the best law firm in Andheri, Mumbai providing best service for Banking Lawyer in Mumbai.

Banks have a wide variety of Litigation work as well as various Corporate Advisory/Transactional work such as drafting and registering various deeds/agreements/property transactions etc. Thus in order to become a Banking lawyer it is important to know and understand the area one will specialize in. In Banking Law there is wide scope for Insolvency & Bankruptcy Litigation, Debt Recovery proceedings, Recovery work through Summary Suits/Cheque Bounce complaints etc. Thus is you start a career in those areas of litigation you can become a Banking Lawyer. You can also make a name in transactional work such as conveyancing, real estate transactions and negotiations, merger and acquisition negotiations, investment and securities law etc. There is also a large amount of compliance work involved in Banking Law as Banks have to do compliance with various regulations of the Reserve Bank of India (RBI).

Having B.Com degree along with CA qualification is an advantage for a Banking lawyer, however it is not necessary. One can also take the Banking Law course as a subject in the LLB course or later as a distance programme in order to get further experience in Banking Law. After that, one can do Long-term Internships under a Banking Lawyer for more than a year to get acquainted with the practical aspects of this branch of Law. Once you gain practical experience in Banking Law by working under a senior, you may be retained by a Bank as a “Panel Lawyer” and they shall pay you a monthly retainership for doing their legal work. However the success entirely depends on your own hard work and dedication and also the social skills in order to gain the confidence and trust of the Senior Bank Managers.

The person should also get trained under the advocates practicing at National Company Law Tribunal as there are matters related to bankruptcy and creditors. This will give good exposure to the candidate or the person of the inside facts of the banking system.

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