Lawgist77Treasury and bank balances
The total of the cash balances in all treasuries of an existing State and the credit balances of that State with the Reserve Bank of India immediately before the appointed day shall pass to the successor State, or, if there be two or more successor States, be divided between them according to the population ratio:
Provided that for the purpose of such division, there shall be no transfer of cash balances from any treasury to any other treasury and the apportionment shall be effected by adjusting the credit balances of the successor States in the books of the Reserve Bank of India on the appointed day:
Provided further that if any successor State has no account with the Reserve Bank of India the adjustment shall be made in such manner as the Central Government may by order direct.
Download our fully-offline, High speed android app.- Click here
- 75 Application of Part
- 76 Land and goods
- 77 Treasury and bank balances
- 78 Arrears of taxes
- 79 Right to recover loans and advances
- 80 Credits in certain funds
- 81 Assets and liabilities of State undertakings
- 82 Public debt
- 83 Refund of taxes collected in excess
- 84 Deposits
- 85 Provident funds
- 86 Pensions
- 87 Contracts
- 88 Liability in respect of actionable wrong
- 89 Liability as guarantor of co-operative society
- 90 Items in suspense
- 91 Residuary provision
- 92 Power of the Central Government to order allocation or adjustment in certain cases
- 93 Certain expenditure to be charged on the Consolidated Fund
