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Statutory Provisions

Home Acts & Rules Bill Bills FINANCE BILL, 2017 Chapters List Part III AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934 This

Clause 134 - Amendment to section 31 of Act 2 of 1934. - FINANCE BILL, 2017

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

Amendment to section 31 of Act 2 of 1934.

134. In the Reserve Bank of India Act, 1934, in section 31, after sub-section (2), the following sub-section shall be inserted, namely:-

"(3) Notwithstanding anything contained in this section, the Central Government may authorise any scheduled bank to issue electoral bond.

Explanation.–– For the purposes of this sub-section, ‘’electroal bond’’ means a bond issued by any scheduled bank under the scheme as may be notified by the Central Government.’’.

 
 
 
 

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