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Section 4 - Capital of the Bank, Section 5 - Increase and reduction of Share Capital, Section 6 - Offices, branches and agencies : RBI Act 1934

 

 

How much is capital of the Bank? What are the rules of offices, branches and agencies of bank? Section 4 and 6 of Reserve Bank of India Act 1934

Section 4 of RBI Act 1934 : "Capital of the Bank"

The capital of the Bank shall be five crores of rupees.

Section 5 of RBI Act 1934 : "Increase and reduction of share capital"

Repealed by the Reserve Bank (Transfer to Public Ownership) Act, 1948 w.e.f. 1-1-1949

Section 6 of RBI Act 1934 : "Offices, branches and agencies"

The Bank shall, as soon as may be, establish offices in Bombay, Calcutta, Delhi and Madras and may establish branches or agencies in any other place in India or, with the previous sanction of the Central Government elsewhere.

 
 

RBI ACT 1934

Section 2 - Definitions

Section 3 - Establishment and incorporation of Reserve Bank

Section 4 - Capital of the Bank

Section 5 - Increase and reduction of Share Capital

Section 6 - Offices, branches and agencies

 

 

Section 7 - Management

Section 8 - Composition of the Central Board and term of office of Directors

Section 9 - Local Boards, their constitution and functions

Section 10 - Disqualifications of Directors and members of Local Boards

 

 

Section 11 - Removal from and vacation of office

Section 12 - Casual vacancies and absences

Section 13 - Meetings of the Central Board

Section 17 - Business which the Bank may transact

 

 

Section 18 - Power of direct discount

Section 18A - Validity of loan or advance not to be questioned

Section 19 - Business which the Bank may not transact

CHAPTER III
CENTRAL BANKING FUNCTION

Section 20 - Obligation of the Bank to transact Government business

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