An Act to constitute a Reserve
Bank of India.
Whereas it is expedient to constitute a Reserve Bank for
India to regulate the issue of Bank notes and the keeping
of reserves with a view to securing monetary stability in
India and generally to operate the currency any credit system
of the country to its advantage;
And whereas in the present disorganisation of the monetary
systems of the world it is not possible to determine what
will be suitable as a permanent basis for the Indian monetary
system;
But whereas it is expedient to make temporary provision on
the basis of the existing monetary system, and to leave the
question of the monetary standard best suited to India to
be considered when the international monetary position has
become sufficiently clear and stable to make it possible to
frame permanent measures;
It is hereby enacted as follows: -
|
