Reserve Bank of India Act, 1934

E31779

Act of Parliament of India banking legislation monetary law

The Reserve Bank of India Act, 1934 is the foundational legislation that established the Reserve Bank of India and provides the legal framework for monetary policy, currency issuance, and regulation of the Indian financial system.

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Statements (49)

Predicate	Object
instanceOf	Act of Parliament of India ⓘ banking legislation ⓘ monetary law ⓘ
administeredBy	Ministry of Finance ⓘ surface form: Ministry of Finance, Government of India Reserve Bank of India ⓘ
amendedBy	Banking Regulation Act, 1949 (consequential amendments) ⓘ various subsequent Amendment Acts of Parliament of India ⓘ
authorizes	issue of bank notes by the Reserve Bank of India ⓘ
cameIntoForceOn	1 April 1935 ⓘ
citation	Act No. 2 of 1934 ⓘ
containsProvisionOn	bank rate ⓘ banking regulation by the Reserve Bank of India ⓘ cash reserve ratio ⓘ Reserve Bank of India ⓘ surface form: issue department of the Reserve Bank of India lender of last resort function of the Reserve Bank of India ⓘ management of foreign exchange reserves ⓘ monetary policy instruments of the Reserve Bank of India ⓘ open market operations ⓘ regulation of non-banking financial institutions by the Reserve Bank of India ⓘ statutory liquidity ratio ⓘ ways and means advances to governments ⓘ
continuedInForceAfter	Independence of India in 1947 ⓘ
country	India ⓘ
dateOfEnactment	6 March 1934 ⓘ
defines	composition of the Central Board of Directors of the Reserve Bank of India ⓘ functions of the Reserve Bank of India ⓘ governance structure of the Reserve Bank of India ⓘ powers of the Reserve Bank of India ⓘ
enactedBy	Imperial Legislative Council of India ⓘ surface form: Imperial Legislative Council
establishes	Reserve Bank of India ⓘ
languageOfText	English ⓘ
longTitle	An Act to constitute a Reserve Bank of India to regulate the issue of bank notes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage ⓘ
preIndependenceLegislationOf	British India ⓘ
primaryObjective	operating the currency and credit system of India to its advantage ⓘ securing monetary stability in India ⓘ
providesLegalFrameworkFor	currency issuance in India ⓘ monetary policy in India ⓘ regulation of the Indian financial system ⓘ
relatedTo	Banking Regulation Act, 1949 (consequential amendments) ⓘ surface form: Banking Regulation Act, 1949 Foreign Exchange Management Act, 1999 ⓘ Payment and Settlement Systems Act, 2007 ⓘ
shortTitle	Reserve Bank of India Act, 1934 self-link ⓘ
status	in force ⓘ
subjectMatter	central banking ⓘ currency management ⓘ financial regulation in India ⓘ monetary system ⓘ
territorialExtent	whole of India ⓘ
yearOfEnactment	1934 ⓘ

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Reserve Bank of India → establishedUnderAct → Reserve Bank of India Act, 1934 ⓘ

Indian rupee → governingAct → Reserve Bank of India Act, 1934 ⓘ

Monetary Policy Committee of the Reserve Bank of India → legalBasis → Reserve Bank of India Act, 1934 ⓘ

Reserve Bank of India Act, 1934 → shortTitle → Reserve Bank of India Act, 1934 self-link ⓘ