RESERVE BANK OF INDIA Incorporated under Reserve Bank of India Act, 1934 (II of 1934)

regulations · 1934 · State unknown

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Parent: THE RESERVE BANK OF INDIA ACT, 1934 (edb4b0bb51aeed408edafc1e5ca731cd0dbe73f6)

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RESERVE BANK OF INDIA Incorporated under Reserve Bank of India Act, 1934 (II of 1934) ----------------------------------------------- RESERVE BANK OF INDIA GENERAL REGULATIONS, 1949 (Updated – April 30, 2025) -------------------------------------- RESERVE BANK OF INDIA GENERAL REGULATIONS, 1949 CONTENTS CHAPTER I Introductory Short title Definitions CHAPTER II Obligations and immunities of Directors and Members of Local Boards Declaration of Fidelity and Secrecy No Director or Member to deal with matters with which he is personally concerned Obligation of Director or Member of Local Board to give information of disqualification Central Board to inform Central Government regarding disqualifications Indemnity of Directors and Members of Local Boards CHAPTER III Meetings of Central and Local Boards and of the Committee of the Central Board Meetings of the Central Board Meetings of Local Boards Committee of the Central Board 10-A Participation in Meetings [Deleted] CHAPTER IV General Provisions Proceedings of Boards not invalidated by vacancies Acts of Directors and Members of Boards valid notwithstanding subsequent discovery of disqualification Delegation by Central Board to Local Boards RESERVE BANK OF INDIA GENERAL REGULATIONS, 1949 - - - - In exercise of the powers conferred by Section 58 of the Reserve Bank of India Act, 1934 (II of 1934) and in supersession of the Reserve Bank of India General Regulations, 1935, 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 CHAPTER II Obligations and Immunities of Directors and Members of Local Boards - - - - Every Director and every member shall, before entering upon his duties, sign a declara

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1 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the words 'a Committee of the Central or the Local'.

2 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the words 'their Committees'.

3 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the word 'Three'.

4 · Substituted by Notification dated 28.03.1992 published in the Gazette of India No. 18, Part III, Section 4, dated 02.05.1992, for the following (w.e.f. 28.03.1992):

5 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2014 published in the Gazette of India No. 42, Part III, Section 4, dated 18.10.2014 for the following (w.e.f. 18.10.2014):

6 · Inserted vide the Reserve Bank of India General (Amendment) Regulations, 2016 published in the Gazette of India No. 40, Part-III, Section 4, dated 01.10.2016 (w.e.f. 01.10.2016).

7 · Deleted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969. Prior to deletion regulation 11 read as under:

8 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the following: 'a committee of the Central or Local Board'.

9 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the following:

10 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the word 'sanctioned'.

11 · Deleted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969. Prior to the deletion clause (ii) of regulation 15 read as under:

12 · The words 'and Committees of Local Boards' deleted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969.

13 · Substituted by resolution passed in 208 th Meeting of the Central Board held on 04.03.1966, after receiving previous sanction from Government of India, for the following:

14 · Inserted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No. F. 3(43) -BC/69 dated 28.06.1969.

15 · Substituted by resolution passed in 317 th Meeting of the Central Board held on October 30, 1981, after receiving previous sanction from Government of India vide their letter No. F.No.11/7/81-I.R. dated 01.09.1981 for the words 'Chief Accountant'. 16 & 17 Inserted by resolution passed in 241 st Meeting of the Central Board held on 14.12.1970, after receiving previous sanction from Government of India vide their letter No.F. 3(42) -BC/70 dated 20.11.1970.

17 · [Powers on behalf of the Bank by whom to be exercised]

18 · 18[(1) (a) Contracts on behalf of the Bank may be made as follows :-

19 · [Manner and form in which contracts binding on the Bank may be executed.

18 · & 19 Substituted by resolution passed in 241 st Meeting of the Central Board held on 14.12.1970, after receiving previous sanction from Government of India vide their letter No.F. 3(42) -BC/70 dated 20.11.1970. Prior to substitution the regulation and marginal note read as under:

20 · Inserted by resolution passed in 208 th Meeting of the Central Board held on 04.03.1966, after receiving previous sanction from Government of India.

21 · Substituted by resolution passed in 231 st Meeting of the Central Board held on 14.07.1969, after receiving previous sanction from Government of India vide their letter No.F. 3(43) -BC/69 dated 28.06.1969, for the following:

23 · [(a) a Balance Sheet in the following form and containing] 24 [the particulars, namely: -

22 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2020 issued vide notification F. No. DGBA/DBA/No 342/62.01.033/2020-21 dated 11.11.2020 published in the Gazette of India No. 484, Part-III, Section 4, dated 11.11.2020, for the word 'June' (w.e.f. 11.11.2020).

23 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2015 issued vide notification No. DGBA/Accts/BA AS No. 18/62.01.022/2015-16 dated 03.07.2015 published in the Gazette of India No. 236, Part-III, Section 4, dated 06.07.2015 (w.e.f. 30.06.2015). Prior to the substitution clause (a) of regulation 22 read as '(i) A Balance Sheet in the form prescribed by the Central Government. (ii) A profit and loss account for the year in the following form and containing the particulars therein prescribed'.

24 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2020 issued vide notification F. No. DGBA/DBA/No 342/62.01.033/2020-21 dated 11.11.2020 published in the Gazette of India No. 484, Part-III, Section 4, dated 11.11.2020 (w.e.f. 11.11.2020) for the words ' the particulars specified therein namely :…' and against the Balance Sheet as published vide the Reserve Bank of India General (Amendment) Regulations, 2015 issued vide notification No. DGBA/Accts/BA AS No. 18/62.01.022/2015-16 dated 03.07.2015 published in the Gazette of India No. 236, Part-III, Section 4, dated 06.07.2015 (w.e.f. 30.06.2015).

25 · [(b) an Income Statement for the year, in the following form and containing] 26 [the particulars, namely: -

1 · These funds are maintained by the National Bank for Agriculture and Rural Development (NABARD).

25 · Inserted by the Reserve Bank of India General (Amendment) Regulations, 2015 vide notification No. DGBA/Accts/BA AS No. 18/62.01.022/2015-16 dated 03.07.2015 published in the Gazette of India No. 236, Part-III, Section 4, dated 06.07.2015 (w.e.f. 30.06.2015).

26 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2020 vide notification F. No. DGBA/DBA/No 342/62.01.033/2020-21 dated 11.11.2020 published in the Gazette of India No. 484, Part-III, Section 4, dated 11.11.2020 (w.e.f. 11.11.2020) for the following:

28 · [(iii) The market rate shall be obtained on valuation day from a generally accepted source or following a method as may be specified by the Central Board from time to time having regard to the market practices.

30 · [(Note: Regulation 23 - The expression 'valuation day' means last working day of the month, or every Friday or every alternate Friday, depending on periodicity of valuation viz. at monthly, weekly or fortnightly intervals)]

27 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2015 vide Notification No. DGBA/Accts/BA AS No. 18/62.01.022/2015-16 dated 03.07.2015 published in the Gazette of India No. 236, Part-III, Section 4, dated 06.07.2015 (w.e.f. 30.06.2015), for the following:

28 · Substituted by the Notification dated 10.12.2009 published in the Gazette of India Notification No. 13 dated 27.03.2010 for the following:

29 · Substituted by the Reserve Bank of India General (Amendment) Regulations, 2020 issued vide notification F. No. DGBA/DBA/No 342/62.01.033/2020-21 dated 11.11.2020 published in the Gazette of India No. 484, Part-III, Section 4, dated 11.11.2020 (w.e.f. 11.11.2020) for the words 'valued to the nearest thousand rupees'.

30 · Inserted by the notification dated 09.05.2002 published in the Gazette of India No. 36, Part-III, Section 4, dated 07.09.2002 (w.e.f. 09.05.2002).

31 · Substituted by notification No.S.D.(B.S.) No.28/02.14.005/2022-23 dated 07.04.2022 published in the Gazette of India No.16, Part-III, Section 4, dated 16.04.2022 (w.e.f. 13.08.2021) for the following: