The Reserve Bank of India Act, 1934

• S. 1Short title, extent and commencement.
• S. 2Definitions.
• S. 3Establishment and incorporation of Reserve Bank.
• S. 4Capital of the Bank.
• S. 5[Omitted.].
• S. 6Offices, branches and agencies.
• S. 7Management.
• S. 8Composition of the Central Board, and term of office of Directors.
• S. 9Local Boards, their constitution and functions.
• S. 10Disqualifications of Directors and members of Local Boards.
• S. 11Removal from and vacation of office.
• S. 12Casual vacancies and absences.
• S. 13Meetings of the Central Board.
• S. 14[Omitted.].
• S. 15[Omitted.].
• S. 16[Omitted.].
• S. 17Business which the Bank may transact.
• S. 18Power of direct discount.
• S. 18AValidity of loan or advance not to be questioned.
• S. 19Business which the Bank may not transact.
• S. 20Obligation of the Bank to transact Government business.
• S. 20A[Omitted.].
• S. 21Bank to have the right to transact Government business in India.
• S. 21ABank to transact Government business of States on agreement.
• S. 21BEffect of agreements made between the Bank and certain States before the 1st November, 1956.
• S. 22Right to issue bank notes.
• S. 22ANon-applicability of certain provisions to digital form of bank notes
• S. 23Issue Department.
• S. 24Denominations of notes.
• S. 25Form of bank notes.
• S. 26Legal tender character of notes.
• S. 26ACertain bank notes to cease to be legal tender.
• S. 27Re-issue notes.
• S. 28Recovery of notes lost, stolen, mutilated or imperfect.
• S. 28AIssue of special bank notes and special one rupee notes in certain cases.
• S. 29Bank exempt from stamp duty on bank notes.
• S. 30Powers of Central Government to supersede Central Board.
• S. 31Issue of demand bills and notes.
• S. 32[Omitted.].
• S. 33Assets of the Issue Department.
• S. 34Liabilities of Issue Department.
• S. 35[Omitted.].
• S. 36[Omitted.].
• S. 37Suspension of assets requirements as to foreign securities.
• S. 38Obligations of Government and the Bank in respect of rupee coin.
• S. 39Obligation to supply different forms of currency.
• S. 40Transactions in foreign exchange.
• S. 41A[Omitted.].
• S. 42Cash reserves of scheduled banks to be kept with the Bank.
• S. 43Publication of consolidated statement by the Bank.
• S. 43AProtection of action taken in good faith.
• S. 44[Omitted.].
• S. 45Appointment of agents.

Chapter CHAPTER III B

• S. 45-IDefinitions
• S. 45-IA[Requirement of registration and net owned fund
• S. 45-IB[Maintenance of percentage of assets
• S. 45-ICReserve fund
• S. 45-IDPower of Bank to remove directors from office.--
• S. 45-IESupersession of Board of directors of non-banking financial company (other than Government Company).--
• S. 45-OPenalties

• S. 45ADefinitions.
• S. 45BPower of Bank to collect credit information.
• S. 45CPower to call for returns containing credit information.
• S. 45DProcedure for furnishing credit information to banking companies.
• S. 45EDisclosure of information prohibited.
• S. 45FCertain claims for compensation barred.
• S. 45G[Omitted.].
• S. 45HChapter IIIB not to apply in certain cases.
• S. 45JBank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money.
• S. 45JAPower of Bank to determine policy and issue directions.
• S. 45KPower of Bank to collect information from non - banking institutions as to deposits and to give directions.
• S. 45LPower of Bank to call for information from financial institutions and to give directions.
• S. 45MDuty of non-banking institutions to furnish statements, etc., required by Bank.
• S. 45MAPowers and duties of auditors.
• S. 45MAAPower to take action against auditors.
• S. 45MBPower of Bank to prohibit acceptance of deposit and alienation of assets.
• S. 45MBAResolution of non-banking financial company.
• S. 45MCPower of Bank to file winding up petition.
• S. 45NInspection.
• S. 45NADeposits not to be solicited by unauthorised person.
• S. 45NAAPower in respect of group companies.
• S. 45NBDisclosure of information.
• S. 45NCPower of Bank to exempt.
• S. 45P[Omitted.].
• S. 45QChapter IIIB to override other laws.
• S. 45QAPower of Company Law Board to offer repayment of deposit.
• S. 45QBNomination by depositors.
• S. 45RInterpretation.
• S. 45SDeposits not to be accepted in certain cases.
• S. 45TPower to issue search warrants.
• S. 45UDefinitions.
• S. 45VTransactions in derivatives.
• S. 45WPower to regulate transactions in derivatives, money market instruments, etc.
• S. 45XDuty to comply with directions and furnish information.
• S. 45YJoint Mechanism.
• S. 45ZProvisions of this Chapter to override other provisions of Act.
• S. 45ZAInflation target.
• S. 45ZBConstitution of Monetary Policy Committee.
• S. 45ZCEligibility and selection of Members appointed by Central Government.
• S. 45ZDTerms and conditions of appointment of Members of Monetary Policy Committee.
• S. 45ZERemoval of Members of Monetary Policy Committee.
• S. 45ZFVacancies, etc., not to invalidate proceedings of Monetary Policy Committee.
• S. 45ZGSecretary to Monetary Policy Committee.
• S. 45ZHInformation for Monetary Policy Committee Members.

Chapter 1[Chapter III-F

• S. 45ZIMeetings of Monetary Policy Committee.--

• S. 45ZJSteps to be taken to implement decision of Monetary Policy Committee.
• S. 45ZKPublication of decisions.
• S. 45ZLPublication of proceedings of meeting of Monetary Policy Committee.
• S. 45ZMMonetary Policy Report.
• S. 45ZNFailure to maintain inflation target.
• S. 45ZOPower to make rules.
• S. 46Contribution by Central Government to the Reserve Fund.
• S. 46AContribution to National Rural Credit (Long Term Operations) Fund and Nation al Rural Credit (Stabilisation) Fund.

Chapter CHAPTER IV

• S. 46B—

• S. 46CNational Industrial Credit (Long Term Operations) Fund.
• S. 46DNational Housing Credit (Long Term Operations) Fund.
• S. 47Allocation of surplus profits.
• S. 48Exemption of Banks from income-tax and super-tax.
• S. 49Publication of Bank rate.
• S. 50Auditors.
• S. 51Appointment of special auditors by Government.
• S. 52Powers and duties of auditors.
• S. 53Returns.
• S. 54Rural Credit and Development.
• S. 54ADelegation of powers.
• S. 54AAPower of Bank to depute its employees to other institutions.
• S. 55[Omitted.].
• S. 56[Omitted.].
• S. 57Liquidation of the Bank.
• S. 57APowers of Bank not to apply to International Financial Services Centre.
• S. 58Power of the Central Board to make regulations.
• S. 58AProtection of action taken in good faith.
• S. 58BPenalties.
• S. 58COffences by companies.
• S. 58DApplication of section 58B barred.
• S. 58ECognizance of offences.
• S. 58FApplication of fine.
• S. 58GPower of Bank to impose fine.
• S. 59[Repealed.].
• S. 60[Repealed.].
• S. 61[Repealed.].