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Amendment of section 2

Clause 218 - Bills - MISCELLANEOUS PART I- AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934. - FINANCE BILL, 2016 - Clause 218 - 218. In section 2 of the principal Act,- (i) after clause (b), the following clause shall be inserted, namely:- (bva) Co .....

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r Price Index expressed in terms of percentage; (cii) inflation target means the inflation target determined in accordance with sub-section (1) of section 45ZA; ; (iii) after clause (cc), the following clauses shall be inserted, namely:- (cci) Moneta .....

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(ccccii) Policy Rate means the rate for repo-transactions under sub-section (12AB) of section 17; . Clauses 216 to 220 of the Bill seeks to amend certain provisions of the Reserve Bank of India Act, 1934. It is proposed to amend section 2 of the Act .....

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y to meet the challenge of an increasingly complex economy and to maintain price stability. The proposed new Chapter inter alia provides that,- (i) the Central Government shall, in consultation with the Bank (Reserve Bank of India), determine the inf .....

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ia as a Chairperson, Deputy Governor of the Bank, one officer of the Bank to be nominated by the Central Board and three persons be appointed by the Central Government as Members to the Committee; (iii) section 45ZC to 45ZG deals with the terms and c .....

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