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Amendment of section 3.

to as the principal Act), in section 3,- (a) in sub-section (3), for the words Bombay or at such other place as the Reserve Bank , the words New Delhi or at such other place as the Central Government shall be substituted; (b) in sub-section (4), for the words the Reserve Bank , the words the Central Government shall be substituted. Clauses 159 to 174 of the Bill seek to amend certain provisions of .....

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osed to insert a new sub-section (3) in the said section relating to transfer of subscribed capital from the Reserve Bank to the Central Government. It is also proposed to amend clause (d) of sub-section (1) of section 6 of the said Act so as to reduce the number of directors of the Reserve Bank of India to be part of the Board of Directors from "two" to "one". Certain further .....

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