{"id":86010,"date":"2021-11-25T17:39:08","date_gmt":"2021-11-25T12:09:08","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=86010"},"modified":"2021-11-25T17:39:09","modified_gmt":"2021-11-25T12:09:09","slug":"important-sections-of-rbi-act-1934","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/important-sections-of-rbi-act-1934\/","title":{"rendered":"Important sections of the RBI Act 1934"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/important-sections-of-rbi-act-1934\/#Important_sections_of_the_RBI_Act_1934_Free_ebook_download\" >Important sections of the RBI Act, 1934 | Free ebook download<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/important-sections-of-rbi-act-1934\/#How_to_Download_the_Weekly_Current_Affairs_PDF\" >How to Download the Weekly Current Affairs PDF?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/important-sections-of-rbi-act-1934\/#Important_sections_of_the_RBI_Act_1934\" >Important sections of the RBI Act, 1934<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/important-sections-of-rbi-act-1934\/#Important_sections_of_RBI_Act_1934_%E2%80%93_FAQs\" >Important sections of RBI Act, 1934 &#8211; FAQs<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>The Indian Institute of Banking and Finance holds an exam to fill the position of Junior Associate of the Indian Institute of Bankers, which is currently vacant. The exam is held twice a year in two cycles, i.e., in May and November. To help you in your preparation for this exam, let\u2019s have a look at Important sections of the RBI Act, 1934 in detail.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_sections_of_the_RBI_Act_1934_Free_ebook_download\"><\/span><strong>Important sections of the RBI Act, 1934 | Free ebook download<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=banking&amp;next=https:\/\/bit.ly\/Imp-Sections-RBI-Act-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Download Free ebook here<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Download_the_Weekly_Current_Affairs_PDF\"><\/span><strong>How to Download the Weekly Current Affairs PDF?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\"><li>Click on the below-given\u00a0<a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=banking&amp;next=https:\/\/bit.ly\/Imp-Sections-RBI-Act-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>download link<\/strong><\/a>. You will be taken to Oliveboard\u2019s FREE Ebooks Page. Alternately, you can download the Oliveboard Android App to access these on your smartphone.<\/li><li>Register\/Login on to the Free E-Books Page of Oliveboard (It is 100% free, You just enter your valid email id and a password to be able to download the ebook).<\/li><li>Once logged in you\u2019ll see the message \u201c<strong>Please click here to download the Free Ebook<\/strong>\u201c. Click on the message to download that particular ebook.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_sections_of_the_RBI_Act_1934\"><\/span>Important sections of the RBI Act, 1934<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Here are some important sections of the RBI<\/p>\n\n\n\n<p>Section 3 :<\/p>\n\n\n\n<p>Authorises the RBI to take over the management of the currency from the Central Government and carry on the business of banking in accordance with the provisions of this Act.<\/p>\n\n\n\n<p>Section 7 :<\/p>\n\n\n\n<p>Central Government may from time to time give directions to the RBI if it is a matter of public interest after consulting with the RBI Governor.<\/p>\n\n\n\n<p>Section 17: <\/p>\n\n\n\n<p>Mentions the functions of RBI<\/p>\n\n\n\n<p>Section 18 : <\/p>\n\n\n\n<p>Mentions the emergency provisions that RBI can take for the purpose of regulating credit in the interests of Indian trade, commerce, industry, and agriculture.<\/p>\n\n\n\n<p>Section 21 :<\/p>\n\n\n\n<p>It entrusts the RBI with the management of the public debt and with the issue of loans to the Central government.<\/p>\n\n\n\n<p>Section 22 :<\/p>\n\n\n\n<p>It gives the RBI the sole right to issue bank notes in the country.<\/p>\n\n\n\n<p>Section 24 :<\/p>\n\n\n\n<p>It mentions the denominations of the notes that can be in circulation. On the recommendation of the RBI, the Central Government can direct the discontinuance of the issue of any particular bank notes.<\/p>\n\n\n\n<p>Section 28 :<\/p>\n\n\n\n<p>It empowers the RBI to form laws to deal with lost, stolen, mutilated, or imperfect currency notes of the Government of India.<\/p>\n\n\n\n<p>Section 31 :<\/p>\n\n\n\n<p>Empowers RBI and the Central government to issue demand bills and promissory notes<\/p>\n\n\n\n<p>Section 42 :<\/p>\n\n\n\n<p>This section mentions the cash reserves that the scheduled banks have to keep with the RBI.<\/p>\n\n\n\n<p>Section 45 :<\/p>\n\n\n\n<p>Mentions the powers of RBI to collect credit information from financial institutions, determine policy and issue directions, constitute Monetary Policy Committee and target inflation<\/p>\n\n\n\n<p>Section 46 :<\/p>\n\n\n\n<p>Mentions the Reserve funds that Central Government needs to maintain with the RBI<\/p>\n\n\n\n<p>Section 58 :<\/p>\n\n\n\n<p>Gives the power to make regulations to the RBI board<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_sections_of_RBI_Act_1934_%E2%80%93_FAQs\"><\/span>Important sections of RBI Act, 1934 &#8211; FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1637838572600\"><strong class=\"schema-faq-question\">How to download the Important sections of the RBI Act, 1934 ebook? <\/strong> <p class=\"schema-faq-answer\">Click on the given\u00a0<a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=banking&amp;next=https:\/\/bit.ly\/Imp-Sections-RBI-Act-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>download link<\/strong><\/a> to download the Important sections of the RBI Act, 1934 ebook.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1637838676583\"><strong class=\"schema-faq-question\">What is the exam date for JAIIB 2022 to be conducted?<\/strong> <p class=\"schema-faq-answer\">JAIIB will be conducted on <strong>8th, 9th &amp; 22nd January 2022<\/strong><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1637841528128\"><strong class=\"schema-faq-question\">Which laws regulate the banking sector in India?<\/strong> <p class=\"schema-faq-answer\">Banking regulation act, 1934, and the Reserve Bank of India Act, 1934 regulate the banking sector in India.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Indian Institute of Banking and Finance holds an exam to fill the position of Junior Associate of the Indian<\/p>\n","protected":false},"author":60,"featured_media":86028,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-86010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - 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