Section 53 - Returns, Section 54 - Rural Credit and Development : RBI Act 1934
What are the Returns? What is Rural Credit and Development? Section
53 and 54 of
Reserve Bank of India Act 1934
Section 53 of RBI Act 1934 : "Returns"
(1) The Bank shall prepare and transmit to the Central
Government a weekly account of the Issue Department and of the
Banking Department in such form as the Central Government may,
by notification in the Gazette of India, prescribe. The Central
Government shall cause these accounts to be published in the
Gazette of India at such intervals and in such modified form as
it may deem fit.
(2) The Bank shall also, within two months from the date on
which the annual accounts of the Bank are closed, transmit to
the Central Government a copy of the annual accounts signed by
the Governor, the Deputy Governors and the Chief Accounting
Officer of the Bank, and certified by the auditors, together
with a report by the Central Board on the working of the Bank
throughout the year, and the Central Government shall cause such
accounts and report to be published in the Gazette of India.
Section 54 of RBI Act 1934: "Rural Credit and
The Bank may maintain expert staff to study various aspects
of rural credit and development and in particular it may,-
(a) tender expert guidance and assistance to the National
(b) conduct special studies in such areas as it may consider
necessary to do so for promoting integrated rural development.