The Reserve Bank of India Act, 1934 (Bare Act)/ Universal Law Publishing

THE RESERVE BANK OF INDIA ACT, 1934
Introduction , .
CHAPTER I
PRELIMINARY
Sections
1. Short title, extent and commencement
2. Definitions
CHAPTER II
INCORPORATION, CAPITAL, MANAGEMENT AND BUSINESS 3. Establishment and incorporation of Reserve Bank 7 4. Capital of the Bank 7 5. [Rqrealed] 7 6. Offices, branches and agencies 7 7. Management . . . S 8. Composition of the Central Board, and term of office of Directors 8 9. Local Boards, their constitution and functions 9 10. Disqualifications of Directors and members of Local Boards 10 11. Removal from and vacation of office 10 12. Casual vacancies and absences ' 11 13. Meetings of the Central Board 11 14. [Repealed] 12 15. [Repealed] ' . . . 12 16. [Repealed] 12 17. Business which the Bank may transact 12 18. Power of direct discount ■25 18A. Validity of loan or advance not to be questioned 26 19. Business which the Bank may not transact 27
CHAPTER III CENTRAL BANKING FUNCTIONS 20. Obligation of the Bank to transact Government business . 27 21. Bank to have the right to transact Government business in India 27 21A. Bank to transact Government business of States on agreement . 28 21B. Effect of agreements made between the Bank and certain States before the 1st November, 1956 28 22. Right to issue bank notes 29 23. Issue Department 29 24. Denominations of notes 29
Sections

Form of bank notes
Legal tender character of notes Certain bank notes to cease to be legal tender
Re-issue notes
Recovery of notes lost, stolen, mutilated or imperfect Issue of special bank notes and special one rupee
notes in certain cases
Bank exempt from stamp duty on bank notes Powers of Central Government to supersede Central Board
Issue of demand bills and notes
[Rqjealed] Assets of the Issue Department Liabilities of Issue Department
[Repealed]
[Repealed] Suspension of assets requirements as to foreign securities . Obligations of Government and the Bank in respect of rupee co Obligation to supply different forms of currency Transactions in foreign exchange [Repealed] Cash reserves of scheduled banks to be kept with the Bank Publication of consolidated statement by the Bank Protection of action taken in good faith
[Repealed]
Appointment of agents
CHAPTER IllA
COLLECTION AND FURNISHING OF CREDIT INFORMATION
Definitions
Power of Bank to collect credit information . Power to call for returns containing credit information Procedure for furnishing credit information to banking companies Disclosure of information prohibited Certain claims for compensation barred [Repealed]
CHAPTER IIIB
PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS Chapter III B not to apply in certain cases
Definitions
Requirement of registration and net owned fund Maintenance of percentage of assets
Reserve fund.
45J. Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money 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 person ■' 45NB. Disclosure of information 45NC. Power of Bank to exempt 45-0. [Repealed] 45P. [Repealed] 45Q. Chapter IIIB to override other laws 45QA. Power of Company Law Board to offer repayment of deposit 45QB. Nomination by depositors CHAPTER IlIC PROHIBITION OF ACCEPTANCE OF DEPOSITS BY UNINCORPORATED BODIES 45R. Interpretation • • ^ 45S. Deposits not to be accepted in certain cases 45T. Power to issue search warrants CHAPTER HID REGULATION OF TRANSACTIONS IN DERIVATIVES, MONEY MARKET INSTRUMENTS OR SECURITIES, ETC. 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 . CHAPTER IV GENERAL PROVISIONS 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 46C. National Industrial Credit (Long Term Operations) Fund 46D. National Housing Credit (Long Term Operations) Fund 47. Allocation of surplus profits 48. Exemption of Banks 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.

Delegation of powers Power of Bank to depute its employees to other institutions [Repealed] [Repealed] Liquidation of the Bank Power of the Central Board to make regulations Protection of action taken in good faith
CHAPTER V
PENALTIES
Penalties Offences by companies Application of section 58B barred Cognizance of offences Application of fine Power of Bank to impose fine [Repealed] [Repealed] [Repealed] THE FIRST SCHEDULE—[Areas where local boards are to be constituted—see section 9]
THE SECOND SCHEDULE.—Scheduled Banks THE THIRD SCHEDULE.—[Repealed] THE FOURTH SCHEDULE.—[Repealed] THE FIFTH SCHEDULE.—[Repealed]

THE RESERVE BANK OF INDIA (BOARD FOR FINANCIAL SUPERVISION) REGULATIONS, 1994
CHAPTER I
INTRODUCTORY
Regulations
1. Short title and commencement 2. Regulations not in derogation of General Regulations, 1949
3. Definitions
4. Composition of the Board 5. Functions and powers of the Board
6. Assistance to the Board
7. Nominations
8. Vacation of offices 9. Powers on behalf of the Board by whom to be exercised 10. Applicability of the General Regulations 11. Meetings of the Board and Quorum
12. Constitution of Sub-Committees 13. Functions and meetings of Executive Committee 14. Functions and meetings of Advisory Council 15. Report to the Central Board