| Sections |
Reserve Bank of India Act, 1934 |
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Preamble |
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CHAPTER I: Preliminary |
| 1. |
Short title, extent and commencement |
| 2. |
Definitions |
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CHAPTER II : Incorporation, capital, management and business |
| 3. |
Establishment and incorporation of Reserve Bank |
| 4. |
Capital of the Bank |
| 5. |
Repealed |
| 6. |
Offices, branches and agencies |
| 7. |
Management |
| 8. |
Composition of the Central Board, and term of office of Directors |
| 9. |
Local Boards, their constitution and functions |
| 10. |
Disqualifications of Directors and members of Local Boards |
| 11. |
Removal from and vacation of office |
| 12. |
Casual vacancies and absences |
| 13. |
Meetings of the Central Board |
| 14. |
Repealed |
| 15. |
Repealed |
| 16. |
Repealed |
| 17. |
Business which the Bank may transact |
| 18. |
Power of direct discount |
| 18A. |
Validity of loan or advance not to be questioned |
| 19. |
Business which the bank may not transact |
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CHAPTER III : Central Banking functions |
| 20. |
Obligation of the Bank to transact government business |
| 21. |
Bank to have the right to transact Government business in India |
| 21A. |
Bank to transact Government business of States on agreement |
| 21B. |
Effect of agreements made between the Bank and certain States before the 1st November, 1956 |
| 22. |
Right to issue bank notes |
| 23. |
Issue Department |
| 24. |
Denominations of notes |
| 25. |
Form of bank notes |
| 26. |
Legal tender character of notes |
| 26A. |
Certain bank notes to cease to be legal tender |
| 27. |
Re-issue of notes |
| 28. |
Recovery of notes lost, stolen, mutilated or imperfect |
| 28A. |
Issue of special bank notes and special one rupee notes in certain cases |
| 29. |
Bank exempt from stamp duty on bank notes |
| 30. |
Powers of Central Government to supersede Central Board |
| 31. |
Issue of demand bills and notes |
| 32. |
Repealed |
| 33. |
Assets of the Issue Department |
| 34. |
Liabilities of the Issue Department |
| 35. |
Repealed |
| 36. |
Repealed |
| 37. |
Suspension of assets requirements as to foreign securities |
| 38. |
Obligations of Government and the ban in respect of rupee coin |
| 39. |
Obligation to supply different forms of currency |
| 40. |
Transactions in foreign exchange |
| 41. |
Repealed |
| 41A. |
Repealed |
| 42. |
Cash reserves of scheduled banks to be kept with the Bank |
| 43. |
Publication of consolidated statement by the Bank |
| 43A. |
Protection of action taken in good faith |
| 44. |
Repealed |
| 45. |
Appointment of agents |
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CHAPTER IIIA : Collection and furnishing of credit information |
| 45A. |
Definitions |
| 45B. |
Power of Bank to collect credit information |
| 45C. |
Power to call for returns containing credit information |
| 45D. |
Procedure for furnishing credit Information to banking companies |
| 45E. |
Disclosure of information prohibited |
| 45F. |
Certain claims for compensation barred |
| 45G. |
Repealed |
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CHAPTER IIIB : Provisions relating to non-banking institutions receiving deposits and financial institutions |
| 45H. |
Chapter IIIB not to apply in certain cases |
| 45I. |
Definitions |
| 45IA. |
Requirement
of registration and net owned fund |
| 45IB. |
Maintenance
of percentage of assets |
| 45IC. |
Reserve
Fund |
| 45J. |
Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money |
| 45JA. |
Power of Bank to determine Policy and issue directions |
| 45K. |
Power of Bank to collect information from non-banking institutions as to deposits and to give directions |
| 45L. |
Power of Bank to call for information from financial institutions and to give directions |
| 45M. |
Duty of non-banking institutions to furnish statements, etc, required by Ban |
| 45MA. |
Powers and duties of auditors |
| 45MB. |
Power of Bank to prohibit acceptance of deposits and alienation of assets |
| 45MC. |
Power of Bank to file winding up petition |
| 45N. |
Inspection |
| 45NA. |
Deposits not to be solicited by unauthorised persons |
| 45NB. |
Disclosure of information |
| 45NC. |
Power of Bank to exempt |
| 45O. |
Repealed |
| 45P. |
Repealed |
| 45Q. |
Chapter IIIB to override other laws |
| 45QA. |
Power of Company Law Board to order repayment of deposit |
| 45QB. |
Nomination by depositors |
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CHAPTER IIIC : Prohibition of Acceptance of deposits by unincorporated bodies |
| 45R. |
Interpretation |
| 45S. |
Deposits not to be accepted in certain cases |
| 45T. |
Power to issue search warrants |
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CHAPTER IV : General provisions |
| 46. |
Contribution by Central Government to the Reserve Fund |
| 46A. |
Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilisation) Fund |
| 46B. |
Repealed |
| 46C. |
National Industrial Credit (Long Term Operations) Fund |
| 46D. |
National Housing Credit (Long Term Operations) Fund |
| 47. |
Allocation of surplus profits |
| 48. |
Exemption of Bank from income-tax and super-tax |
| 49. |
Publication of Bank rate |
| 50. |
Auditors |
| 51. |
Appointment of Special auditors by Government |
| 52. |
Powers and duties of auditors |
| 53. |
Returns |
| 54. |
Rural Credit and Development |
| 54A. |
Delegation of powers |
| 54AA. |
Power
of Bank to depute its employees to other institutions |
| 55-56. |
Repealed |
| 57. |
Liquidation of the Bank |
| 58. |
Power of the Central Board to make regulations |
| 58A. |
Protection of action taken in good faith |
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CHAPTER V : Penalties |
| 58B. |
Penalties |
| 58C. |
Offences by companies |
| 58D. |
Application of section 58B barred |
| 58E. |
Cognizance of offenses |
| 58F. |
Application of fine |
| 58G. |
Power of Bank to impose fine |
| 59. |
Repealed |
| 60. |
Repealed |
| 61. |
Repealed |
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SCHEDULES |
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THE FIRST SCHEDULE |
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THE SECOND SCHEDULE |
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THE THIRD SCHEDULE |
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THE FOURTH SCHEDULE |
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THE FIFTH SCHEDULE |
