Section 0

Chapter V: PENALTIES CHAPTER V PENALTIES 58B. Penalties. 58C. Offences by companies. 58D. Application of section 58B barred. 58E. Cognizance of offences. 58F. Application of fine. 58G. Power of Bank to impose fine. 59. [ Repealed .]. 60. [ Repealed .]. 61. [ Repealed .]. THE FIRST SCHEDULE. THE SECOND SCHEDULE. THE THIRD SCHEDULE.—[ Omitted. ]. THE FOURTH SCHEDULE.—[ Omitted. ]. THE FIFTH SCHEDULE.—[ Repealed. ]. THE RESERVE BANK OF INDIA ACT, 1934 ACT NO. 2 OF 1934[1] [6 th March , 1934.] An Act to constitute a Reserve Bank of India. WHEREAS it is expedient to constitute a Reserve Bank for India to regulate the issue of Bank notes and the keeping of reserves with a view to securing monetary stability in[2] [India] and generally to operate the currency and credit system of the country to its advantage; 3[AND WHEREAS it is essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy; AND WHEREAS the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth; AND WHEREAS the monetary policy framework in India shall be operated by the Reserve Bank of India;] It is hereby enacted as follows:—