In force · As amended up to 2026-08
5. "KanakadurgaGramin Bank, Gudivada (Andhra Pradesh)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008.
5. Restored by Act 81 of 1985, s. 12 (w.e.f. 1-5-1986). Earlier sub-clause (a) omitted by Act 21 of 1978, s. 9 (date to be notified).
6. Subs. by Act 24 of 1978, s. 4, for clause (12) (w.e.f. 21-7-1978).
7. Subs. by s. 4, ibid., for clause (12A) (w.e.f. 21-7-1978).
8. Ins. by Act 26 of 2006, s. 2 (w.e.f. 9-1-2007).
(b) "reverse repo" means an instrument for lending funds by purchasing securities of the Central Government or a State Government or of such securities of a local authority as may be specified in this behalf by the Central Government or foreign securities, with an agreement to resell the said securities on a mutually agreed future date at an agreed price which includes interest for the funds lent;]
1[(12B) the making of loans and advances in foreign currencies to scheduled banks, 2* 3[, the Exim Bank],[4] [or[5] [the Reconstruction Bank or the Small Industries Bank]] the Industrial Finance Corporation[6] [the National Bank for Financing Infrastructure and Development or other development financial institution,] any State Financial Corporation and any other financial institution as may, on the recommendation of the Bank, be approved by the Central Government and on such terms and conditions as may be specified by the Central Board in this behalf, against promissory notes of such bank or financial institution, as the case may be:
Provided that the borrowing bank or financial institution, as the case may be, furnishes a — declaration in writing to the effect that
(a) it has made loans and advances in foreign currencies for financing international trade or for the import of capital goods or for such other purposes as may be approved by the Central Government; and
(b) that the amount of loans or advances so made and outstanding at any time will not be less than the outstanding amount of the loans or advances obtained by it from the Bank;]
7[(13) the opening of an account with an office outside India of any bank, including a bank incorporated in India or the making of an agency agreement with, and the acting as an agent or correspondent of, any bank incorporated outside India, or the principal currency authority of any country under the law for the time being in force in that country or any international or regional bank or financial institution formed by such principal currency authorities or foreign governments, and the investing of the funds of the Bank in the shares and securities of any such international or regional bank or financial institution or of any other foreign institution as may be approved by the Central Board in this behalf;]
5. The word "and" omitted by Ordinance 47 of 1945, s. 6.
6. Subs. by Act 23 of 1955, s. 52 and the Third Schedule for clause (15A) (w.e.f. 1-7-1955).
7. Ins. by Act 58 of 1968, s. 24 (w.e.f. 1-2-1969).
8. The words "and the law of Burma" omitted by Act 11 of 1947, s. 11 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937.
9. The brackets and figures "(1)" omitted by Act 51 of 1974, s. 7 (w.e.f. 13-12-1974).
10. Subs. by Act 32 of 1951, s. 8, for "Central Board" (w.e.f. 1-11-1951).
8[(13A) participation in any arrangement for the clearing and settlement of any amounts due from, or to, any person or authority on account of the external trade of India with any other country or group of countries or of any remittances to, or from, that country or group of countries, including the advancing, or receiving, of any amount in any currency in connection therewith, and, for that purpose, becoming, with the approval of the Central Government, a member of any international or regional clearing union of central banks monetary or other authorities, or being associated with any such clearing arrangements, or becoming a member of any body or association formed by central banks, monetary or other similar authorities, or being associated with the same in any manner;]
(14) the borrowing of money for a period not exceeding one month for the purposes of the business of the Bank, and the giving of security for money so borrowed:
Provided that no money shall be borrowed under this clause from any person in India[9] * other than a scheduled bank[10] * or from any person outside India[11] * other than a bank which is the principal currency authority of any country under the law for the time being in force in that country:
1. Ins. by Act 24 of 1978, s. 4 (w.e.f. 21-7-1978).
2. The words "the Development Bank" omitted by Act 53 of 2003, s. 12 and the Schedule (w.e.f. 2-7-2004).
3. Ins. by Act 28 of 1981, s. 40 and the Second Schedule (w.e.f. 1-1-1982).
45T. Power to issue search warrants
5. Daughter (including step-daughter), 6. Father's father, 7. Father's mother,
4. Ins. by Act 62 of 1984, s. 71 and the Third Schedule (w.e.f. 20-3-1985).
5. Subs. by Act 39 of 1989, s. 53 and the Second Schedule, for "the Reconstruction Bank" (w.e.f. 7-3-1990).
6. Ins. by Act 17 of 2021, s. 47 and the Second Schedule (w.e.f. 19-4-2021).
7. Subs. by Act 24 of 1978, s. 4, for clause (13) (w.e.f. 21-7-1978) which was inserted by the M.O. 1937.
8. Ins. by Act 44 of 1973, s. 2 (w.r.e.f. 15-9-1973).
9. The words "or Burma" omitted by Act 11 of 1947, s. 11 (w.e.f. 1-4-1947) which were earlier inserted by the M.O. 1937.
9. The words "or a Burma scheduled bank" omitted by s. 11, ibid . (w.e.f. 1-4-1947) which were earlier inserted by the M.O. 1937.
10. The words "and Burma" omitted by s. 11, ibid . (w.e.f. 1-4-1947).
Provided further that the total amount of such borrowings from persons in India[1] * shall not at any time exceed the amount of the[2] [capital] of the Bank;
3* * * * *
(15) the making and issue of bank notes subject to the provisions of this Act[4] *;[5] *
6[(15A) the exercise of powers and functions and the performance of duties entrusted to the Bank under this Act or under any other law for the time being in force;]
7[ 15B ) the providing of facilities for training in banking and for the promotion of research, where, in the opinion of the Bank, such provision may facilitate the exercise by the Bank of its powers and functions, or the discharge of its duties;]
5. "Aligarh Gramin Bank, Aligarh (Uttar Pradesh)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008.
(16) generally, the doing of all such matters and things as may be incidental to or consequential upon the exercise of its powers or the discharge of its duties under this Act[8] *.
5. Included by RBI Notification No. DBOD.IBD. No. 19042/23.03.024/2010-11, dated 7th June, 2011.
5. "BardhamanGramin Bank. Burdwan (West Bengal)" excluded by RBI Notification No. RPCD.CO. RRB. BC. No. 95/03.05.100/2013-14, dated 9th April, 2014.
5. "BhandaraGramin Bank, Bhandara (Mahrashtra)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812B/03.05.100/2009-10, dated 21st January, 2010.
6. Subs. by Notification No. UBD. No. BR. 150/16.05.00/97-98, dated 3rd April, 1998, for "Bharat Co-operative Bank Ltd., Mumbai, Maharashtra".
5. "Cauvery Grameena Bank, Mysore (Karnataka)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008.
5. "Chhindawara - SeoniKshetriyaGramin Bank, Chhindawara (Madhya Pradesh)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/03-05.100/2009-10, dated 21st January, 2010.
5. "DhenkanalGramya Bank, Dhenkanal (Orissa)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010.
5. "GiridihKshetriyaGramin Bank, Giridih (Bihar)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010.
5. "HazaribaghKshetriyaGramin Bank, Hazaribagh (Bihar)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010.
5. "Jammu Rural Bank, Jammu (Jammu & Kashmir)" excluded by RBI Notification No. RPCD.CO. RRB. No. 11379/3.5.100/2010-11, dated 31st March, 2011.
5. "KshetriyaKisanGramin Bank, Mainpuri, Uttar Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 56/03.05.100/2013-14, dated 14th November, 2013.
5. "MallabhumGramin Bank, Bankura (West Bengal)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010.
5. "Nadia Gramin Bank, Krishnagar (West Bengal)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010.
5. Included by RBI Notification No. RPCD.CO. RRB. No. 46/03.05.100/2013-14, dated 22nd October 2013.
5. "PratapgarhKshetriyaGramin Bank, Pratapgarh, Uttar Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 7431/03.05.100/2008-09, dated 27th January, 200g.
5. "RayalaseemaGrameena Bank, Cuddapah (Andhra Pradesh)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008.
5. Included by RBI Notification No. RPCD.CO. RRB. No. 7430/03.05.100/2008-09, dated 27th January, 2009.
5. "SolapurGramin Bank, Solapur (Maharashtra)" excluded by RBI Notification No. RPCD.CO. RRB. No. 7812-B/0305.100/2009-10, dated 21st January, 2010.
6. Subs. by Notification DBOD/BD No. 10730/23/23.13.032/2007-08, dated 7th February, 2008, for "Sonali Bank".
5. "Surat-Bharuch Gramin Bank, Baruch (Gujarat)" excluded by RBI Notification No. RPCD.CO. RRB. No. 3230/03.05.100/2008-09, dated 22nd September, 2008.
5. "UFJ Bank Ltd." excluded by Notification No. DBOD. No. IBD 947/23.03.007/2005-2006, dated 26th December, 2005.
5. "Vidisha Bhopal KshetriyaGramin Bank, Vidisha, Madhya Pradesh" excluded by RBI Notification No. RPCD.CO. RRB. No. 56/03.05.100/2013-14, dated 14th November, 2013.
Source: India Code