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Start Free TrialReserve Bank of India Act, 1934 (2 of 1934) Section 50
Title: Auditors
State: Central
Year: 1934
1[50. Auditors (1) Not less than two auditors shall be appointed, and their remuneration fixed, by the Central Government. (2) The auditors shall hold office for such term not exceeding one year as the Central Government may fix while appointing them, and shall be eligible for re-appointment.] _______________________ 1. Substituted by Act 62 of 1948, section 7 and Schedule, for section 50 (w.e.f. 1-1-1949).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 52
Title: Powers and Duties of Auditors
State: Central
Year: 1934
.....shall state whether, in their opinion, the balance-sheet is a full and fair balance-sheet containing all necessary particulars and properly drawn up so as to exhibit a true and correct view of the state of the Bank's affairs, and, in case they have called for any explanation or information from the Central Board, whether it has been given and whether it is satisfactory 5 [***]. _______________________ 1. Certain words omitted by Act 24 of 1955, section 9 (w.e.f. 8-5-1955). 2. The words "to the shareholders or" omitted by Act 62 of 1948, section 7 and Schedule (w.e.f. 1-1-1949). 3. Substituted by the India and Burma (Burma Monetary Arrangements) Order, 1937, for "Governor-General in Council". 4. The words "as the case may be" omitted by Act 62 of 1948, section 7 and Schedule (w.e.f. 1-1-1949). 5. Certain words omitted by Act 62 of 1948, section 7 and Schedule, (w.e.f. 1-1-1949).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 45W
Title: Power to Regulate Transactions in Derivatives, Money Market Instruments, Etc.
State: Central
Year: 1934
(1) The Bank may, in public interest, or to regulate the financial system of the country to its advantage, determine the policy relating to interest rates or interest rate products and give directions in that behalf to all agencies or any of them, dealing in securities, money market instruments, foreign exchange, derivatives, or other instruments of like nature as the Bank may specify from time to time: Provided that the directions issued under this sub-section shall not relate to the procedure for execution or settlement of the trades in respect of the transactions mentioned therein, on the Stock Exchanges recognised under section 4 of the Securities Contracts (Regulation) Act, 1956(42 of 1956). (2) The Bank may, for the purpose of enabling it to regulate agencies referred to in sub-section (1), call for any information, statement or other particulars from them, or cause an inspection of such agencies to be made.
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 45X
Title: Duty to Comply with Directions and Furnish Information
State: Central
Year: 1934
It shall be the duty of every director or member or other body for the time being vested with the management of the affairs of the agencies referred to in section 45W to comply with the directions given by the Bank and to submit the information or statement or particulars called for under that section.
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46
Title: Contribution by Central Government to the Reserve Fund
State: Central
Year: 1934
The1[Central Government] shall transfer to the Bank rupee securities to the value of five crores of rupees to be allocated by the Bank to the Reserve Fund. _______________________ 1. Substituted by the India and Burma (Burma Monetary Arrangements) Order, 1937, for "Governor-General in Council".
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46A
Title: Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilisation) Fund
State: Central
Year: 1934
1 [46A. Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilisation) Fund The Bank shall contribute every year such sums of money as it may consider necessary and feasible to do so, to the National Rural Credit (Long Term Operations) Fund and the National Rural Credit (Stabilisation) Fund established and maintained by the National Bank under sections 42 and 43, respectively, of the National Bank for Agriculture and Rural Development Act, 1981.] _______________________ 1. Substituted by Act 61 of 1981, section 61 and Schedule II, for sections 46A and 46B (w.e.f. 12-7-1982).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46B
Title: Section 46b (Omitted)
State: Central
Year: 1934
1[Omitted] ____________________________ 1.Section 46-B omitted by National Bank for Agriculture & Rural Development Act, 1981 [61 of 1981] (w.e.f. 12-7-1982).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46C
Title: National Industrial Credit (Long Term Operations) Fund
State: Central
Year: 1934
.....the Development Bank of loans and advances for the purpose of the purchase of, or subscription to, stocks, shares, bonds or debentures issued by the Industrial Finance Corporation of India, a State Financial Corporation or any other financial institution which may be notified by the Central Government in this behalf, or for the purposes of any other business of the Development Bank; (b) the purchasing of bonds and debentures issued by the Development Bank." omitted by Act 53 of 2003, section 12 and Schedule, Ft. I. 3. Inserted by Act 28 of 1981, section 40 and Schedule II (w.e.f. 1-1-1982). 4. Inserted by Act 62 of 1984, section 71 and Schedule III (w.e.f. 20-3-1985). 5. Inserted by Act 39 of 1989, section 53 and Schedule II (w.e.f. 7-3-1990). 6. The proviso and sub-section (2) omitted by Act 62 of 1948, section 7 and Schedule (w.e.f. 1-1-1949).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46D
Title: National Housing Credit (Long Term Operations) Fund
State: Central
Year: 1934
1 [46D. National Housing Credit (Long Term Operations) Fund (1) The Bank shall establish and maintain a Fund to be known as the National Housing Credit (Long Term Operations) Fund to which shall be credited every year such sums of money as it may consider necessary. (2) The amount in the said Fund shall be applied by the Bank only to the following objects namely:- (a) the making to the National Housing Bank of loans and advances for the purpose of any business of the National Housing Bank; (b) the purchasing of bonds and debentures issued by the National Housing Bank.] _______________________ 1. Inserted by Act 53 of 1987, section 56 and the Second Schedule (w.e.f. 9-7-1988).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 47
Title: Allocation of Surplus Profits
State: Central
Year: 1934
1 [47. Allocation of surplus profits After making provision for bad and doubtful debts, depreciation in assets, contributions to staff and superannuation fund 2 [and for all other matters for which] provision is to be made by or under this Act or which are usually provided for by bankers, the balance, of the profits shall be paid to the Central Government.] _______________________ 1. Substituted by Act 62 of 1948, section 7 and Schedule, for section 47 (w.e.f. 1-1-1949). 2. Substituted by Act 24 of 1955, section 8, for "and such other contingencies as".
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