Amendment status not verified — confirm the current text below against the official source.
1 [3. Establishment and incorporation of Reserve Bank.-- (1) A bank to be called the Reserve Bank of India shall be constituted for the purposes of taking over the management of the currency from the 2 [Central Government] and of carrying on the business of banking in accordance with the provisions of this Act. (2) The Bank shall be a body corporate by the name of the Reserve Bank of India, having perpetual succession and a common seal, and shall by the said name sue and be sued.