The Bank shall undertake to accept monies for account of [ *** the Central Government ***] and to make payments up to the amount standing to the credit of [its account], and to carry out [its exchange], remittance and other banking operations, including the management of the public debt [of the Union].
Section 20: Obligation of the Bank to transact Government business.
The Reserve Bank of India Act, 1934Central Act · Act 2 of 1934
Where this provision sits
| Act | The Reserve Bank of India Act, 1934 |
|---|---|
| Section | 20 |
| Marginal note | Obligation of the Bank to transact Government business. |
| Jurisdiction | Central |
| Status | In force as published by the source |
| Judgments citing it | 1 |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted. . Subs. by the M.O. 1937, for certain words.
- omitted. . The words "the Secretary of State" omitted by the A.O. 1950.
- omitted, Act 37 of 1956. . The words and letter "and the Governments of Part A States" omitted by Act 37 of 1956, s. 104 (w.e.f. 1-11-1956).
- substituted. Subs. by s. 104, ibid., for "their accounts respectively" (w.e.f. 1-11-1956).
- substituted. . Subs. by s. 104, ibid., for "their exchange" (w.e.f. 1-11-1956).
- inserted. . Ins. by s. 104, ibid. (w.e.f. 1-11-1956).
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