THE GAZETTE OF INDIA : EXTRAORDINARY (PART III- SEC . 4 RESERVE BANK OF INDIA (BOARD FOR FINANCIAL SUPERVISIO… — THE RESERVE BANK OF INDIA ACT, 1934

THE GAZETTE OF INDIA : EXTRAORDINARY (PART III- SEC . 4 RESERVE BANK OF INDIA (BOARD FOR FINANCIAL SUPERVISION) REGULATIONS, 1994. In exercise of the powers conferred by Section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board of the Reserve Bank of India, with the previous sanction of the Central Government, is pleased to make the following Regulations, namely : CHAPTER I INTRODUCTORY Shot title and commencement – (1) These Regulations may be called the Reserve Bank of India (Board for Financial Supervision) Regulations, 1994. (2) These Regulations shall come into force on the date of their publication in the Official Gazette. Regulations not in derogation of General Regulations, 1949 – The provisions of these Regulations shall be in addition to and not in derogation of the Reserve Bank of India General Regulations, 1949 save as hereinafter expressly provided in these Regulations. In case of inconsistency the provisions of these Regulations shall have overriding effect. Definitions – In these Regulations, unless there is anything repugnant in the subject or context :- (a) ‘Act’ means the Reserve Bank of India Act, 1934 (2 of 1934); (b) ‘the Bank’ means the Reserve Bank of India constituted by the Act; (c) 'banking company' means a banking company as defined in Section 5(c) of the Banking Regulation Act, 1949 (10 of 1949) and shall include a corresponding new bank constituted under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) State Bank of India constituted under State Bank of India Act, 1955 (33 of 1955) and a subsidiary bank as defined in the State Bank of India (subsidiary banks) A