I, including the laying — THE RESERVE BANK OF INDIA ACT, 1934

section 45-I, including the laying 1. Subs by Act 19 of 1957, s. 5, for " Indian Companies Act; 1913 of 1913)" (w.ef: 8-6-1957)_ 2. Subs by the M.O. 1937, for "G.G. in C. 3 . Subs by ibid,, for "he may direct" _ 4. Sub-section (2) omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949). 5 Ins. by Act 50 of 2019_ 33 and the second Schedule (w.e.f: 1-10-2020). 6. Ins: by Act 66 of 1988, s_ 6 (w.e.f: 30-12-1988) 7. Clauses (a) to (e) omitted by Act 62 of 1948,s. and the Schedule (w.e.f: 1-1-1949)_ 8 The words "to the Governor; 0r" omitted by Act 54 of 1953, s. 8 (w.e.f: 30-12-1953)_ 8. Subs. by Act 66 of 1988, s. 6, for "the scheduled banks" (w.e.f: 30-12-1988). 9 Ins. by Act 21 of 2000, s. 94 and the Fourth Schedule (w.e.f: 9-6-2000). 61 down of the conditions subject to which banks and other financial institutions shall participate in such fund transfers, the manner of such fund transfers and the rights and obligations of the participants in such fund transfers;] the circumstances in which; and the conditions and limitations subject to which, the value of any lost, stolen, mutilated or imperfect currency note of the Government of India or bank note may be refunded; '[(qa) the remuneration and other allowances payable to Members of the Monetary Policy Committee under sub-section (2) of section 4SZD; (qb) the functions of the Secretary under sub-section (2) of section 45ZG; (qc) the procedure, manner of conducting of meetings and related matters of the Monetary Policy Committee under sub-section ( 12) of section 45ZI; (qd) the particulars and the frequency of publication of document under sub-section (2) of section 45ZJ; (qe) the form and contents of the Monetary Policy Report to be published under sub-section (2) of section 4SZM;] and generally; for the efficient conduct of the business of the Bank: 4(3) Any regulation made under this section shall have effect from such earlier or later date as may be specified in the regulation. Every regulation shall , as soon aS may be after it is made by the Central Board; be, forwarded to the Central Government and that Government shall cause a copy of the same to be laid before each House of Parliament; while it is in session, for total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation, or both Houses agree that the regulation should not be made, the regulation shall, thereafter, have effect only in such modified form o be of no effect; as the case may be; SO, however, that any such modification O annulment shall be without prejudice to the validity of anything previously done under that regulation:] '[(5)] Copies of all regulations made under this section shall be available to the public on payment: [S84. Protection of action taken in good faith. (Z) No suit; prosecution O other legal proceeding shall lie against the Central Government O the Bank O any other person in respect of anything which is in good faith done Or intended to be done under this Act Or in pursuance of any order; regulation or direction made O given thereunder. (2) No suit o other legal proceeding shall lie against the Central Government O the Bank for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act o in pursuance of any order, regulation Or direction made Or given thereunder:] S[CHAPTER V PENALTIES 58B. Penalties: (1) Whoever in any application, declaration, return, statement; information or particulars made, required or furnished by Or under or for the purposes of any provisions of this Act; Or any order, regulation or direction made O given thereunder or in any prospectus o advertisement issued for Or in connection with the invitation by any person, of deposits of money from the public wilfully makes a statement which is false in any material particular knowing it to be false O willfully omits to make a material statement shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine. 1. Ins. by Act 28 of 2016, s. 223 (W.e.f: 27-6-2016)_ 2. Ins. by Act 51 of 1974 s. 24 (w.e.f. 13-12-1974). 3 . Sub-section (3) renumbered as sub-section (5) thereof by $_ 24, ibid. (w.e.f: 13-12-1974). 4. Ins. by $. 25, ibid. (W.e.f: 13-12-1974). 5 Ins. by $. 26, ibid. (w.e.f: 13-12-1974). 62 (2) If any person fails to produce any book, account Or other document Or to furnish any statement, information or particulars which; under this Act o any order; regulation or direction made or given thereunder, it is his duty to produce or furnish O to answer any question put to him in pursuance of the provisions of this Act O of any order, regulation or direction made or given thereunder, he shall be punishable with fine which may extend to ![one lakh rupees] in respect of each offence and if he persists in such failure or refusal, with further fine which may extend to ?[five thousand rupees] for every day, after the first during which the offence continues. (3) If any person contravenes the provisions of

Section Section 45