Business which the Bank may not transact Save as otherwise provided in sections 17, 18, [42] and 45, the Bank may not— (1) engage in trade or otherwise have a direct interest in any commercial, industrial, or other undertaking except such interest as it may in any way acquire in the course of the satisfaction […]
Validity of loan or advance not to be questioned Notwithstanding anything to the contrary contained in any other law for the time being in force,— (a) the validity of any loan or advance granted by the Bank in pursuance of the provisions of this Act shall not be called in question merely on the
Power of direct discount [***] When, in the opinion of the [Bank] a special occasion has arisen making it necessary or expedient that action should be taken under this [section] for the purposes of regulating credit in the interests of Indian trade, commerce, industry and agricultural, the Bank may, notwithstanding any limitation contained in [***] section 17,— [(1)
Business which the Bank may transact The Bank shall be authorised to carry on and transact the several kinds of business hereinafter specified, namely :— (1) the accepting of money on deposit without interest from, and the collection of money for the Central Government, the State Governments, [***] local authorities, banks and any other persons; [(1A)
First constitution of Local Board [Repealed by the Reserve Bank (Transfer to Public Ownership) Act, 1948, w.e.f. 1-1-1949.]
It has been nearly 10 years since the government launched the Smart Cities Mission with the aim of improving the quality of life in 100 selected cities. Last year, the deadline for achieving this target was extended to March 31, 2025. Now, as that deadline ends, it turns out that only 18 of the 100
First constitution of the Central Board [Repealed by the Reserve Bank (Transfer to Public Ownership) Act, 1948, w.e.f. 1-1-1949.]
General meetings [Repealed by the Reserve Bank (Transfer to Public Ownership) Act, 1948, w.e.f. 1-1-1949.]
Meetings of the Central Board (1) Meetings of the Central Board shall be convened by the Governor at least six times in each year and at least once in each quarter. (2) Any [four] Directors may require the Governor to convene a meeting of the Central Board at any time and the Governor shall forthwith convene
Casual vacancies and absences (1) If the Governor or a Deputy Governor by infirmity or otherwise is rendered incapable of executing his duties or is absent on leave or otherwise in circumstances not involving the vacation of his appointment, the Central Government may, after consideration of the recommendations made by the Central Board in this
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