Reserve Bank of India Act,1934

Posted on 15/12/2012 by ADMIN Leave a comment

Reserve Bank of India Act,1934

CONTENTS

Sections	Particulars

	Preamble

1	Short title, extent and commencement
2	Definitions
3	Establishment and incorporation of Reserve Bank
4	Capital of the Bank
5	Section
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	General meetings
15	First constitution of the Central Board
16	First constitution of Local Boards
17	Business which the Bank may transact
18	Power of direct discounts
18A	Validity of loan or advance not to be questioned
19	Business which the bank may not transact
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	Section
33	Assets of the issue department
34	Liabilities of the issue department
35	Section
36	Section
37	Suspension of assets requirements as to foreign securities
38	Obligations of government and t he Bank in respect of rupee coin
39	Obligation to supply different forms of currency
40	Transactions in foreign exchange
41A	Section
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	Section
45	Appointment of agents
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	Section
45H	Chapter III-B 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	Section
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 bank
45MA	Powers and duties of auditors
45MB	Power of bank to prohibit acceptance of deposit 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	Section
45P	Section
45Q	Chapter III B to override other laws
45QA	Power of Company Law Board to order repayment of deposit
45QB	Nomination by depositors
45R	Interpretation
45S	Deposits not to be accepted in certain cases
45T	Power to issue search warrants
45U	Definitions
45V	Transactions in derivatives
45W	Power to regulate transactions in derivatives, money market instruments, etc
45X	Duty to comply with directions and furnish information
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	Section
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	Section
56	Section
57	Liquidation of the Bank
58	Power of the Central Board to make regulations
58A	Protection of action taken in good faith
58B	Penalties
58C	Offences by companies
58D	Application of section 58B barred
58E	Cognizance of offences
58F	Application of fine
58G	Power of bank to impose fine
59-61	Sections

Schedule
	Schedule 1
	Schedule 2
	Schedule 3
	Schedule 4
	Schedule 5

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