The Reserve Bank of India Act, 1934

Section 1937

In force · As amended up to 2026-08

Chapter II: ## INCORPORATION,[15] [CAPITAL], MANAGEMENT AND BUSINESS | Section 1937 1937. 2. Subs. by Act 35 of 1962, s. 3, for "maturing within ninety days from the date of such purchase or re-discount, exclusive of days of grace" (w.e.f. 15-9-1962). 3. Subs. by M.O. 1937, for "drawn and payable in India". 4. Subs. by Act 11 of 1947, s. 11, for "either in India or in Burma and payable either in India or in Burma" (w.e.f. 1-4-1947). 5. Subs. by s. 11, ibid ., for "a Burma scheduled bank, a provincial co-operative bank, or a Burma co-operative bank" (w.e.f. 1-4-1947). 6. Subs. by the A.O. 1950, for "Provincial". 7. Ins. by Act 51 of 1974, s. 6 (w.e.f. 13-12-1974). 8. Subs. by s. 6, ibid., for "financing seasonal agricultural operations" (w.e.f. 13-12-1974). 9. Subs. by Act 32 of 1951, s. 7, for "nine months" (w.e.f. 1-11-1951).

Source: India Code