Under Section 22 of the Banking Regulation Act 1949, where the Reserve Bank of India cancels the licence of a banking company, an appeal against the cancellation lies to the Central Government within -

Section 22 of the Banking Regulation Act 1949 requires every banking company to obtain a licence from the Reserve Bank of India before it can commence or carry on banking business, and the Reserve Bank may cancel a licence in the circumstances specified in the provision, including where the company ceases to carry on banking business or fails to comply with the provisions of the Act. Section 22(4) provides that any company aggrieved by a decision of the Reserve Bank cancelling its licence may appeal to the Central Government within thirty days from the date of communication of the decision, with the possibility of condonation of delay where sufficient cause is shown. The decision of the Central Government on such appeal is final. Thirty days is the period fixed by the provision.