Bare Act Search Results

Reserve Bank of India Act, 1934 (2 of 1934) Section 17

Title: Business Which the Bank May Transact

State: Central

Year: 1934

..... (10) the sale realisation of all property, whether movable or immovable, which may in any way come into the possession of the Bank in satisfaction, or part satisfaction, of any of its claims; (11) the acting as agent for 1 [***] the 2 [Central Government] 80 [or any 5 [State] Government 81 [***] or any local authority 82 [***] 83 [or the Industrial Finance Corporation of India 84 [***] 11 [or any other body corporate which is established or constituted by or under any other law] 10 [or the Government of any such country outside India or 85 [any such person or authority] is may be approved in this behalf by the Central Government] in the transaction of any of the following kinds of business, namely:- (a) the purchase and sale of gold or silver 86 [or foreign exchange]; (b) the purchase, sale, transfer and custody of bills of exchange, securities or shares in any company; (c) the collection of the proceeds, whether principal, interest or dividends, of any securities or shares; (d) the remittance of such proceeds, at the risk of the principal, by bills of exchange payable either in India or elsewhere; (e) the management of public debt; 87 [(f) 88 [***] the.....

Reserve Bank of India Act, 1934 (2 of 1934) Section 45V

Title: Transactions in Derivatives

State: Central

Year: 1934

(1) Notwithstanding anything contained in the Securities Contracts (Regulation) Act, 1956(42 of 1956) or any other law for the time being in force, transactions in such derivatives, as may be specified by the Bank from time to time, shall be valid, if at least one of the parties to the transaction is the Bank, a scheduled bank, or such other agency falling under the regulatory purview of the Bank under the Act, the Banking Regulation Act, 1949(10 of 1949), the Foreign Exchange Management Act, 1999(42 of 1999), or any other Act or instrument having the force of law, as may be specified by the Bank from time to time. (2) Transactions in such derivatives, as had been specified by the Bank from time to time, shall be deemed always to have been valid, as if the provisions of sub-section (1) were in force at all material times.

Reserve Bank of India Act, 1934 (2 of 1934) Section 21

Title: Bank to Have the Right to Transact Government Business in India

State: Central

Year: 1934

.....this section shall be laid, as soon as may be after it is made, before Parliament.] 9 [***] _____________________ 1. Substituted by the India and Burma (Burma Monetary Arrangements) Order, 1937, for "Governor-General in Council". 2. The words "and the State Governments" omitted by Act 37 of 1956, section 104, (w.e.f. 1-11-1956). 3. Substituted by Act 37 of 1956, section 104, for "their" (w.e.f. 1-11-1956). 4. Substituted by the India and Burma (Burma Monetary Arrangements) Order, 1937, for "Governor-General in Council". 5. The words "or any State Government" omitted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 6. Substituted by Act 37 of 1956, section 104, for "they" (w.e.f. 1-11-1956). 7. The words "and each State Government" omitted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 8. Substituted by Act 37 of 1956, section 104, for sub-section (4) (w.e.f. 1-11-1956). 9. Sub-section (5) Inserted by Act 32 of 1951, section 11 (w.e.f. 1-11-1951) and omitted by Act 37 of 1956, section 10 (w.e.f. 1-11-1956).

Reserve Bank of India Act, 1934 (2 of 1934) Section 21A

Title: Bank to Transact Government Business of States on Agreement

State: Central

Year: 1934

1 [21A. Bank to transact Government business of States on agreement (1) The Bank may by agreement with the Government of any 2 [***] State 3 [***] undertake- (a) all its money, remittance, exchange and banking transactions in India, including in particular, the deposit, free of interest, of all its cash balances with the Bank; and (b) the management of the public debt of, and the issue of any new loans by, that State. (2) Any Agreement made under this section shall be laid, as soon as may be after it is made, before Parliament.] ________________________ 1. Inserted by Act 32 of 1951, section 12 (w.e.f. 1-11-1951). 2. The words "Part B" omitted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 3. The words "(including the autonomous State of Meghalaya)" Inserted by Act 54 of 1969, section 75 and omitted by Act 81 of 1971, section 72 (w.e.f. 21-1-1972).

Reserve Bank of India Act, 1934 (2 of 1934) Section 20

Title: Obligation of the Bank to Transact Government Business

State: Central

Year: 1934

The Bank shall undertake to accept monies for account of 1 [2 [***]] the Central Government 3 [***] and to make payments up to the amount standing to the credit of 4 [its account], and to carry out 5 [its exchange], remittance and other banking operations, including the management of the public debt 6 [of the Union]. 7 [***] _______________________ 1. Substituted by the India and Burma (Burma Monetary Arrangements) Order, 1937, for certain words. 2. The words " the Secretary of State" omitted by the A.O. 1950. 3. The words "and the Governments of Part A States" omitted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 4. Substituted by Act 37 of 1956, section104, for "their account respectively" (w.e.f. 1-11-1956). 5. Substituted by Act 37 of 1956, section104, for "their exchange" (w.e.f. 1-11-1956). 6. Inserted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 7. Section 20A (Transaction of business for British Military Administration, Burma) which was temporarily Inserted by Ordinance 19 of 1945 has been omitted owing to the repeal of the Ordinance by Act 11 of 1947, section 27 (w.e.f. 1-4-1947).

Reserve Bank of India Act, 1934 (2 of 1934) Section 40

Title: Transactions in Foreign Exchange

State: Central

Year: 1934

.....having regard so far as rates of exchange are concerned to its obligations to the International Monetary Fund: Provided that no person shall be entitled to demand to buy or sell foreign exchange of a value less than two lakhs of rupees. Explanation,-In the section "authorized person" means a person who is entitled by or under the 3 [Foreign Exchange Regulation Act, 1973 (46 of 1973)] to buy, or as the case may be, sell, the foreign exchange to which his demand relates.] ________________________ 1. Substituted by Act 23 of 1947, section 4, for sections 40 and 41 (w.e.f. 18-4-1947). 2. Inserted by Act 54 of 1953, section 5 (w.e.f. 30-12-1953). 3. Substituted by Act 1 of 1984, section 5, for "Foreign Exchange Regulation Act, 1947 (7 of 1947)" (w.e.f. 15-2-1984).

Reserve Bank of India Act, 1934 (2 of 1934) Chapter 3D

Title: Regulation of Transactions in Derivatives, Money Market Instruments, Securities, Etc.

State: Central

Year: 1934

1CHAPTER IIID REGULATION OF TRANSACTIONS IN DERIVATIVES, MONEY MARKET INSTRUMENTS, SECURITIES, ETC. ________________________ 1. Inserted by Reserve Bank of India (Amendment) Act, 2006 (26 of 2006) w.e.f. 9th January, 2007.

Reserve 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.

Reserve Bank of India Act, 1934 Complete Act

State: Central

Year: 1934

RESERVE BANK OF INDIA ACT, 1934 RESERVE BANK OF INDIA ACT, 1934 1934 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 and 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 :- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Reserve Bank of India Act, 1934. (2) It extends to the whole of India. (3) This section shall come into force at once, and the remaining provisions of this Act shall come into.....

Reserve Bank of India Act, 1934 (2 of 1934) Chapter 3

Title: Central Banking Functions

State: Central

Year: 1934

.....words "Part B" omitted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 3. The words "(including the autonomous State of Meghalaya)" Inserted by Act 54 of 1969, section 75 and omitted by Act 81 of 1971, section 72 (w.e.f. 21-1-1972). Section 21B - Effect of agreements made between the Bank and certain States before the 1st November, 1956 1 [21B. Effect of agreements made between the Bank and certain States before the 1st November, 1956 (1) Any agreement made under section 21 or section 21A between the Bank and the Government of a State specified in the Explanation below and in force immediately before the 1st day of November, 1956, shall, as from that day have effect as if it were an agreement made on that day under section 21A between the Bank and the Government of the corresponding State subject to such modifications, if any, being of a character not affecting the general operation of the agreement, as may be agreed upon between the Bank and the Government of the corresponding State, or in default of such agreement, as may be made therein by order of the Central Government. Explanation.-In this sub-section "corresponding State" means,- (a) in relation to the.....