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Section 45ZN: Failure to maintain inflation target.

The Reserve Bank of India Act, 1934Central Act · Act 2 of 1934

[45ZN. Failure to maintain inflation target.--Where the Bank fails to meet the inflation target, it shall set out in a report to the Central Government--

(a) the reasons for failure to achieve the inflation target;

(b) remedial actions proposed to be taken by the Bank; and

(c) an estimate of the time-period within which the inflation target shall be achieved pursuant to timely implementation of proposed remedial actions.

Explanation.--For the purposes of this section, the factors that constitute failure shall be such as may be notified by the Central Government in the Official Gazette, within three months from the date of the commencement of Part I of Chapter XII of the Finance Act, 2016.]

Where this provision sits

ActThe Reserve Bank of India Act, 1934
Section45ZN
Marginal noteFailure to maintain inflation target.
JurisdictionCentral
StatusIn force as published by the source

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.

  • inserted, Act 28 of 2016. . Ins. by Act 28 of 2016, s. 222 (w.e.f. 27-6-2016).

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