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      Question

      Under Section 1 of the RBI Act, 1934, the remaining

      provisions of the Act (other than Section 1 itself) come into force on such date as may be appointed by whom?
      A The Central Government Correct Answer Incorrect Answer
      B The Reserve Bank of India Correct Answer Incorrect Answer
      C The Central Board Correct Answer Incorrect Answer
      D The President of India Correct Answer Incorrect Answer
      E The Governor of the Bank Correct Answer Incorrect Answer

      Solution

      Section 1(3) provides that Section 1 shall come into force at once, while the remaining provisions of the Act shall come into force on such date or dates as the Central Government may, by notification in the Gazette of India, appoint. The expression 'Central Government' was substituted by the M.O. 1937 for 'G.G. in C.'. Accordingly, Sections 2 to 19 and certain others were brought into force on 1st January 1935 and the rest on 1st April 1935. Thus the power to appoint the commencement date vests in the Central Government.

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