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Home Acts & Rules Bill Bills FINANCE BILL, 2017 Chapters List Part III AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934 This
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Clause 133 - Commencement of this Part. - FINANCE BILL, 2017

FINANCE BILL, 2017
Part III
AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934
  • Contents

PART III

AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934

Commencement of this Part.

133. The provisions of this Part shall come into force on the 1st day of April, 2017.

 



 

Notes on Clauses:

Clauses 133 and 134 of the Bill seek to amend section 31 of the Reserve Bank of India Act, 1934 relating to issue of demand bills and notes.

It is proposed to insert a new sub-section (3) to the said section so as to provide that the Central Government may authorise any scheduled bank to issue electoral bond as referred to in the proposed clause (d) of the first proviso to section 13A of the Income-tax Act.

It is also proposed to define the expression “electoral bond”.

This amendment is consequential in nature.

This amendment will come into force from 1st April, 2017.

 
 
 
 
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