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Section 46A - Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilization) Fund, Section 46C - National Industrial Credit (Long Term Operations) Fund : RBI Act 1934

 

 

What is Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilization) Fund? What is National Industrial Credit (Long Term Operations) Fund? Section 46A and 46C of Reserve Bank of India Act 1934

Section 46-A of RBI Act 1934 : "Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilization) Fund"

The Bank shall contribute every year such sums of money as it may consider necessary and feasible to do so, to the National Rural Credit (Long Term Operations) Fund and the National Rural Credit (Stabilization) Fund established and maintained by the National Bank under sections 42 and 43, respectively, of the National Bank for Agriculture and Rural Development Act, 1981

 

Section 46C of RBI Act 1934 : "National Industrial Credit (Long Term Operations) Fund."

(1) The Bank shall establish and maintain a Fund to be known as the National Industrial Credit (Long Term Operations) Fund to which shall be credited-

(a) an initial sum of ten crores of rupees by the Bank,

(b) such further sums of money as the Bank may contribute every year :

Provided that the annual contribution during each of the five years commencing with the year ending on the 30th day of June, 1965 shall not be less than five crores of rupees :

Provided further that the Central Government may, if the circumstances so require, authorise the Bank to reduce the said sum of five crores of rupees in any year.

(2) The amount in the said fund shall be applied by the Bank only to the following objects, namely :-

(a)
(b)

(c) the making to the Exim Bank or the Reconstruction Bank or the Small Industries Bank, as the case may be, of loans and advances for the purposes of any business of the Exim Bank or the Reconstruction Bank or the Small Industries Bank, as the case may be ;

(d) the purchasing of bonds and debentures issued by the Exim Bank or the Reconstruction Bank or the Small Industries Bank, as the case may be.

 

RBI ACT 1934

Section 45 N - Inspection

Section 45NA - Deposits not to be solicited by unauthorised persons

Section 45 NB - Disclosure of information

Section 45 NC - Power of Bank to exempt

Section 45Q - Chapter IIIB to override other laws

Section 45QA - Power of Company Law Board to order repayment of deposit

 

 

Section 45QB - Nomination by depositors

CHAPTER IIIC
PROHIBITION OF ACCEPTANCE OF DEPOSITS BY UNINCORPORATED BODIES

Section 45R - Interpretation

45S - Deposits not to be accepted in certain cases

Section 45T - Power to issue search warrants

 

 

Section 45U - Definitions

CHAPTER IIID
REGULATION OF TRANSACTIONS IN DERIVATIVES, MONEY MARKET INSTRUMENTS, SECURITIES, ETC.

Section 45V - Transactions in derivatives

Section 45W - Power to regulate transactions in derivatives, money market instruments, etc

Section 45X - Duty to comply with directions and furnish information

 

 

CHAPTER IIIE
JOINT MECHANISM

Section 45Y - Joint Mechanism

CHAPTER IV
GENERAL PROVISIONS

Section 46 - Contribution by Central Government to the Reserve Fund

Section 46A - Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilization) Fund

Section 46C - National Industrial Credit (Long Term Operations) Fund

Section 46D - National Housing Credit (Long-Term Operations) Fund

Section 47 - Allocation of surplus profits

Section 48 - Exemption of Bank from income-tax and super-tax

Section 49 - Publication of Bank rate

Section 50 - Auditors

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