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Section 43 - Publication of consolidated statement by the Bank, Section 43A - Protection of action taken in good faith: RBI Act 1934

What is the procedure for Publication of consolidated statement by the Bank? What is Protection of action taken in good faith? Section 43 and 44 of Reserve Bank of India Act 1934

 

 

Section 43 of RBI Act 1934 : "Publication of consolidated statement by the Bank"

The Bank shall cause to be published each 2[fortnight] a consolidated statement showing the aggregate liabilities and assets of all the scheduled banks together, based on the returns and information received under this Act or any other law for the time being in force.

 

Section 43A of RBI Act 1934: "Protection of action taken in good faith"

(1) No suit or other legal proceeding shall lie against the Bank or any of its officers for anything which is in good faith done or intended to be done in pursuance of section 42 or section 43 or in pursuance of the provisions of Chapter IIIA.

(2) No suit or other legal proceeding shall lie against the Bank or any of its officers for any damage caused or likely to be caused by anything which is in good faith done or intended to be done in pursuance of section 42 or section 43 or in pursuance of the provisions of Chapter IIIA.

 

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