The Reserve Bank of India Act `1934
An Act to Constitute a Reserve Bank of India.1934
List of Chapters & Sections
PRELIMINARY
INCORPORATION, CAPITAL, MANAGEMENT AND BUSINESS
CENTRAL BANKING FUNCTIONS
COLLECTION AND FURNISHING OF CREDIT INFORMATION
PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS
PROHINITION OF ACCEPTANCE OF DEPOSITS BY UNINCORPORATED BODIES
REGULATION OF TRANSACTIONS IN DERIVATIVES, MONEY MARKET INSTRUMENTS, SECURITIES, ETC.
JOINT MECHANISM
MONETARY POLICY
GENERAL PROVISIONS
PENALTIES
PRELIMINARY
INCORPORATION, CAPITAL, MANAGEMENT AND BUSINESS
3Establishment and incorporation of Reserve Bank4Capital of the Bank5[Omitted.]6Offices, branches and agencies7Management8Composition of the Central Board, and term of office of Directors9Local Boards, their constitution and functions10Disqualifications of Directors and members of Local Boards11Removal from and vacation of office12Casual vacancies and absences13Meetings of the Central Board14[Omitted.]15[Omitted.]16[Omitted.]17Business which the Bank may transact18Power of direct discount18AValidity of loan or advance not to be questioned19Business which the Bank may not transactCENTRAL BANKING FUNCTIONS
20Obligation of the Bank to transact Government business20A[Omitted.]21Bank to have the right to transact Government business in India21ABank to transact Government business of States on agreement21BEffect of agreements made between the Bank and certain States before the 1st November, 195622Right to issue bank notes23Issue Department24Denominations of notes25Form of bank notes26Legal tender character of notes26ACertain bank notes to cease to be legal tender27Re-issue notes28Recovery of notes lost, stolen, mutilated or imperfect28AIssue of special bank notes and special one rupee notes in certain cases29Bank exempt from stamp duty on bank notes30Powers of Central Government to supersede Central Board31Issue of demand bills and notes32[Omitted.]33Assets of the Issue Department34Liabilities of Issue Department35[Omitted.]36[Omitted.]37Suspension of assets requirements as to foreign securities38Obligations of Government and the Bank in respect of rupee coin39Obligation to supply different forms of currency40Transactions in foreign exchange41A[Omitted.]42Cash reserves of scheduled banks to be kept with the Bank43Publication of consolidated statement by the Bank43AProtection of action taken in good faith44[Omitted.]45Appointment of agentsCOLLECTION AND FURNISHING OF CREDIT INFORMATION
PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS
45HChapter IIIB not to apply in certain cases45-IDefinitions45-IARequirement of registration and net owned fund45-IBMaintenance of percentage of assets45-ICReserve fund45-IDPower of Bank to remove directors from office45-IESupersession of Board of directors of non-banking financial company (Other than Government Company)45JBank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money45JAPower of Bank to determine policy and issue directions45KPower of Bank to collect information from non - banking institutions as to deposits and to give directions45LPower of Bank to call for information from financial institutions and to give directions45MDuty of non-banking institutions to furnish statements, etc., required by Bank45MAPowers and duties of auditors45MAAPower to take action against auditors45MBPower of Bank to prohibit acceptance of deposit and alienation of assets45MBAResolution of non-banking financial company45MCPower of Bank to file winding up petition45NInspection45NADeposits not to be solicited by unauthorised person45NAAPower in respect of group companies45NBDisclosure of information45NCPower of Bank to exempt45-OOmitted.45P[Omitted.]45QChapter IIIB to override other laws45QAPower of Company Law Board to offer repayment of deposit45QBNomination by depositorsPROHINITION OF ACCEPTANCE OF DEPOSITS BY UNINCORPORATED BODIES
REGULATION OF TRANSACTIONS IN DERIVATIVES, MONEY MARKET INSTRUMENTS, SECURITIES, ETC.
JOINT MECHANISM
MONETARY POLICY
45ZProvisions of this Chapter to override other provisions of Act45ZAInflation target45ZBConstitution of Monetary Policy Committee45ZCEligibility and selection of Members appointed by Central Government45ZDTerms and conditions of appointment of Members of Monetary Policy Committee45ZERemoval of Members of Monetary Policy Committee45ZFVacancies, etc., not to invalidate proceedings of Monetary Policy Committee45ZGSecretary to Monetary Policy Committee45ZHInformation for Monetary Policy Committee Members45Z-IMeetings of Monetary Policy Committee45ZJSteps to be taken to implement decision of Monetary Policy Committee45ZKPublication of decisions45ZLPublication of proceedings of meeting of Monetary Policy Committee45ZMMonetary Policy Report45ZNFailure to maintain inflation target45ZOPower to make rulesGENERAL PROVISIONS
46Contribution by Central Government to the Reserve Fund46AContribution to National Rural Credit (Long Term Operations) Fund and Nation al Rural Credit (Stabilisation) Fund46CNational Industrial Credit (Long Term Operations) Fund46DNational Housing Credit (Long Term Operations) Fund47Allocation of surplus profits48Exemption of Banks from income-tax and super-tax49Publication of Bank rate50Auditors51Appointment of special auditors by Government52Powers and duties of auditors53Returns54Rural Credit and Development54ADelegation of powers54AAPower of Bank to depute its employees to other institutions55[Omitted.]56[Omitted.]57Liquidation of the Bank58Power of the Central Board to make regulations58AProtection of action taken in good faithPENALTIES