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Section 43 - Publication of consolidated statement by the Bank, Section 43A - Protection of action taken in good faith: RBI Act 1934

 

 

What is the procedure for Publication of consolidated statement by the Bank? What is Protection of action taken in good faith? Section 43 and 44 of Reserve Bank of India Act 1934

Section 43 of RBI Act 1934 : "Publication of consolidated statement by the Bank"

The Bank shall cause to be published each 2[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.

 

Section 43A of RBI Act 1934: "Protection of action taken in good faith"

(1) No suit or other legal proceeding shall lie against the Bank or any of its officers for anything which is in good faith done or intended to be done in pursuance of section 42 or section 43 or in pursuance of the provisions of Chapter IIIA.

(2) No suit or other legal proceeding shall lie against the Bank or any of its officers for any damage caused or likely to be caused by anything which is in good faith done or intended to be done in pursuance of section 42 or section 43 or in pursuance of the provisions of Chapter IIIA.

 

RBI ACT 1934

Section 42 - Cash reserves of scheduled banks to be kept with the Bank

Section 43 - Publication of consolidated statement by the Bank

Section 43A - Protection of action taken in good faith

Section 45 - Appointment of agents

CHAPTER IIIA
COLLECTION AND FURNISHING OF CREDIT INFORMATION

Section 45A - Definitions

 

 

Section 45B - Power of Bank to collect credit information

Section 45C - Power to call for returns containing credit information

Section 45D - Procedure for furnishing credit information to banking companies

Section 45E - Disclosure of information prohibited

Section 45F - Certain claims for compensation barred

Section 45H Chapter IIIB not to apply in certain cases

 

 

Section 45I - Definitions

Section 45IA - Requirement of registration and net owned fund

Section 45 IB - Maintenance of percentage of assets

Section 45 IC - Reserve fund

Section 45 J - Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money

 

 

Section 45 JA - Power of Bank to determine policy and issue directions

Section 45 K - Power of Bank to collect information from non-banking institutions as to deposits and to give directions

Section 45 L - Power of Bank to call for information from financial institutions and to give directions

Section 45 M - Duty of non-banking institutions to furnish statements, etc., required by Bank

Section 45 MA - Powers and duties of auditors

Section 45 MB - Power of bank to prohibit acceptance of deposit and alienation of assets

Section 45 MC - Power of Bank to file winding up petition

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