April 7, 2025

Publication of consolidated statement by the Bank. The Bank shall cause to be published each [fortnight] a consolidated statement showing the aggregate liabilities and assets of all the scheduled banks together, based on the returns and information received under this Act or any other law for the time being in force.]

Cash reserves of scheduled banks to be kept with the Bank. [(1) Every bank included in the Second Schedule shall maintain with the Bank an average daily balance the amount of which shall not be less than [such per cent of the total of the demand and time liabilities in India of such bank as shown

Obligation to provide remittance between India and Burma. [Repealed by the Reserve Bank of India (Amendment) Act, 1947, w.e.f. 1-4-1947].

ransactions in foreign exchange The Bank shall sell to or buy from any authorized person who makes a demand in that behalf at its office in Bombay, Calcutta, Delhi or Madras [or at such of its branches as the Central Government may, by order, determine], foreign exchange at such rates of exchange and on such conditions

Obligation to supply different forms of currency (1) The Bank shall issue rupee coin on demand in exchange for bank notes and currency notes of the Government of India, and shall issue currency notes or bank notes on demand in exchange for coin which is legal tender under the [Coinage Act, 2011 (11 of 2011)]. (2)

Obligations of Government and the Bank in respect of rupee coin The Central Government shall undertake not [***] to put into circulation any rupees, except through the Bank; and the Bank shall undertake not to dispose of rupee coin otherwise than for the purposes of circulation [***].

Suspension of assets requirements as to foreign securities Notwithstanding anything contained in the foregoing provisions, the Bank may, with the previous sanction of the Central Government, for periods not exceeding six months in the first instance, which may, with the like sanction, be extended from time to time by periods not exceeding three months at

Method of dealing with fluctuations in rupee coin assets. [Omitted by the Banking Laws (Miscellaneous Provisions) Act, 1963, w.e.f. 1-2-1964. Earlier, it was amended by the Reserve Bank of India (Amendment) Act, 1951, w.e.f. 1-11-1951.]  © Copyright. Taxmann Publications Pvt. Ltd.

Initial assets and liabilities [Omitted by the Reserve Bank (Transfer to Public Ownership) Act, 1948, w.e.f. 1-1-1949.]