Question
Bank to have the right to transact Government business
in India is provided in section____ of The RBI Act 1934Solution
Section 21 of The RBI Act 1934. S.21. Bank to have the right to transact Government business in India. (1) The [Central Government] shall entrust the Bank, on such conditions as may be agreed upon, with all its money, remittance, exchange and banking transactions in India, and, in particular, shall deposit free of interest all its cash balances with the Bank: Provided that nothing in this sub-section shall prevent the Central Government from carrying on money transactions at places where the Bank has no branches or agencies, and the Central Government may hold at such places such balances as it may require. (2) The Central Government shall entrust the Bank, on such conditions as may be agreed upon, with the management of the public debt and with the issue of any new loans. (3) In the event of any failure to reach agreement on the conditions referred to in this section the Central Government shall decide what the conditions shall be. (4) Any agreement made under this section shall be laid, as soon as may be after it is made, before Parliament.
India is the second country after which nation to launch an Electronic Personnel License for pilots?
The state’s capital Jaipur formation day is observed on?
Which project was a focal point during President Droupadi Murmu's discussions in Fiji, highlighting collaborative efforts between the two countries?
An increase in the Bank Rate generally indicates that the _________.
Consider the following statements regarding the directions provided by the Reserve Bank of India with respect to regulating entities facilitating cross ...
Who is the new ambassador from India to Saudi Arabia?
Recently the NATO Summit was held in Madrid. Which of the following countries took part in it for the first time?
Where is the National Dope Testing Laboratory (NDTL) located?
NPCI Bharat BillPay, a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has launch services under the Business-to-Business ...
PAY EASY,a mobile application has been launched enabling small-scale merchants such as traders, retailers, and professionals, to accept instant cashle...