The Reserve Bank of India Act, 1934 (2 of 1934), shall be amended in the manner specified in the fourth column of the First Schedule, and the amendments to section 18 thereof as specified in the said Schedule shall be deemed to have had effect on and from the 20th day of September, 1947.
If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order, as occasion requires, do anything (not inconsistent with the provisions of this Act) which appears to it to be necessary for the purpose of removing the difficulty:
Provided that no such power shall be exercised after the expiry of a period of three years from the commencement of section 20 of the Banking Laws (Amendment) Act, 1968 (58 of 1968).]
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*Ins. by Act 58 of 1968, s. 20 (w.e.f. 1-2-1969)
Section 48 Application of fines Section 49 Special provisions for private banking companies
Section 50 Certain claims for compensation barred
Section 51 Application on of certain provisions to the State Bank of India and other notified banks
Section 52 Power of Central Government to make rules
Section 53 Power to exempt in certain cases
Section 54 Protection of action taken under Act
Section 55 Amendment of Act 2 of 1934, Section 55a Power to remove difficulties
Section 56 Act to apply to co-operative societies subject to modifications