SECTIONS | Reserve Bank of India Act, 1934 As Amended upto date |
| | |
| | Preamble |
| | |
| | CHAPTER I: PRELIMINARY |
| 1. | Short title, extent and commencement |
| 2. | Definitions |
| | |
| | CHAPTER II: INCORPORATION, CAPITAL, MANAGEMENT AND BUSINESS |
| 3. | Establishment and incorporation of Reserve Bank |
| 4. | Capital of the Bank |
| 5. | Increase and reduction of share capital |
| 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. | [Rep. by the Act 62 of 1948] |
| 15. | [Rep. by the Act 62 of 1948] |
| 16. | [Rep. by the Act 62 of 1948] |
| 17. | Business which the Bank may transact |
| 18. | Power of direct discount |
| 18-A. | Validity of loan or advance not to be questioned |
| 19. | Business which the Bank may not transact |
| | |
| | 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 |
| 21-A. | Bank to transact Government business of States on agreement |
| 21-B | 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 |
| 26-A. | Certain bank notes to cease to be legal tender |
| 27. | Re-issue of notes |
| 28. | Recovery of notes lost, stolen, mutilated or imperfect |
| 28-A. | 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. | Penalty |
| 33. | Assets of the Issue Department |
| 34. | Liabilities of the Issue Department |
| 35. | Initial assets and liabilities |
| 36. | Method of dealing with fluctuations in rupee coin assets |
| 37. | Suspension of assets requirements as to foreign securities |
| 38. | Obligations of Government and the Bank in respect of rupee coin |
| 39. | Obligation to supply different forms of currency |
| 40. | Transactions in foreign exchange |
| 41. | Obligation to buy sterling |
| 41-A. | Obligation to provide remittance between India and Burma |
| 42. | Cash reserves of scheduled banks to be kept with the Bank |
| 43. | Publication of consolidated statement by the Bank |
| 43-A. | Protection of action taken in good faith |
| 44. | Power to require returns from co-operative banks |
| 45. | Appointment of Agents |
| | |
| | CHAPTER IIIA - COLLECTION AND FURNISHING OF CREDIT INFORMATION |
| 45-A. | Definitions |
| 45-B. | Power of Bank to collect credit information |
| 45-C. | Power to call for returns containing credit information |
| 45-D. | Procedure for furnishing credit information to banking companies |
| 45-E. | Disclosure of information prohibited |
| 45-F. | Certain claims for compensation barred |
| 45-G. | Penalties |
| | |
| | CHAPTER IIIB - PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS |
| 45-H. | Chapter IIIB not to apply in certain cases |
| 45-I. | Definitions |
| 45-IA. | Requirement of registration and net owned fund |
| 45-IB. | Maintenance of percentage of assets |
| 45-IC. | Reserve fund |
| 45-J. | Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money |
| 45-JA. | Power of Bank to determine policy and issue directions |
| 45-K. | Power of Bank to collect information from non-banking institutions as to deposits and to give directions |
| 45-L. | Power of Bank to call for information from financial institutions and to give directions |
| 45-M. | Duty of non-banking institutions to furnish statements, etc., required by Bank |
| 45-MA. | Powers and duties of auditors |
| 45-MB. | Power of Bank to prohibit acceptance of deposit and alienation of assets |
| 45-MC. | Power of Bank to file winding up petition |
| 45-N. | Inspection |
| | |
| | CHAPTER IIIC - PROHIBITION OF ACCEPTANCE OF DEPOSITS BY UNINCORPORATED BODIES |
| 45-R. | Interpretation |
| 45-S. | Deposits not to be accepted in certain cases |
| 45-T. | Power to issue search warrants |
| | |
| | CHAPTER IIID - REGULATION OF TRANSACTIONS IN DERIVATIVES, MONEY MARKET INSTRUMENTS, SECURITIES, ETC. |
| 45-U. | Definitions |
| 45-V. | Transactions in derivatives |
| 45-W. | Power to regulate transactions in derivatives, money market instruments, etc |
| 45-X. | Duty to comply with directions and furnish information |
| | |
| | CHAPTER IIIE : JOINT MECHANISM |
| 45-Y. | Joint Mechanism |
| | |
| | CHAPTER IV - GENERAL PROVISIONS |
| 46. | Contribution by Central Government to the Reserve Fund |
| 46-A. | Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilisation) Fund |
| 46-B. | Omitted |
| 46-C. | National Industrial Credit (Long Term Operations) Fund |
| 46-D. | 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 |
| 54-A. | Delegation of powers |
| 54-AA. | Power of Bank to depute its employees to other institutions |
| 55. | Reports by the Bank. Power to require declaration as to ownership of registered shares |
| 56. | Reports by the Bank. Power to require declaration as to ownership of registered shares |
| 57. | Liquidation of the Bank |
| 58. | Power of the Central Board to make regulations |
| 58-A. | Protection of action taken in good faith |
| | |
| | CHAPTER V - PENALTIES |
| 58-B. | Penalties |
| 58-C. | Offences by companies |
| 58-D. | Application of section 58B barred |
| 58-E. | Cognizance of offences |
| 58-F. | Application of fine |
| 58-G. | Power of Bank to impose fine |
| 59. | Repealed |
| 60. | Repealed |
| 61. | Repealed |
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| | FIRST SCHEDULE |
| | SECOND SCHEDULE |
| | THIRD SCHEDULE |
| | FOURTH SCHEDULE |
| | FIFTH SCHEDULE |
