THE RESERVE BANK OF INDIA SCHEDULED BANKS' REGULATIONS, 1951 — THE RESERVE BANK OF INDIA ACT, 1934

THE RESERVE BANK OF INDIA SCHEDULED BANKS' REGULATIONS, 1951 In exercise of the powers conferred by clause (o) of sub-section (2) of section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), and in supersession of the existing regulations regarding the relations of the Scheduled banks with the Reserve Bank and the returns to be submitted by the scheduled banks to the Reserve Bank, the Central Board of the Reserve Bank of India, with the previous sanction of the Central Government hereby makes the following regulations namely :- Short title and commencement Interpretation Opening of an account at an office of the Banking Department of the Bank (i) These regulations may be called the Reserve Bank of India Scheduled Banks' Regulations, 1951. (ii) They shall come into force on the 1st November, 1951. In these regulations: (a) "the Act" means the Reserve Bank of India Act, 1934 (2 of 1934); (b) "the Bank" means the Reserve Bank of India; (c) "principal office of the Bank" means the office of the Reserve Bank to which the returns prescribed under the Act or these regulations are required to be submitted; (d) "principal office of the scheduled bank" means the office of the scheduled bank which will be responsible for the submission of the returns prescribed under the Act or these regulations, and (e) "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955. A scheduled bank may from such date as may be intimated to it by the Bank in this behalf, keep an account at any office of Opening of an account at a branch of the Issue Department of the Bank. Submission of statement and other information the Banking Department of the Bank at a place where the scheduled bank has an office or branch. Provided that if a scheduled bank has no office