What is the Protection of action taken in good faith? Section 58A of Reserve Bank of India Act 1934
1) No suit, prosecution or other legal proceeding shall lie against the Central Government or the Bank or any other person in respect of anything which is in good faith done or intended to be done under this Act or in pursuance of any order, regulation or direction made or given thereunder.
(2) No suit or other legal proceeding shall lie against the Central Government or the Bank for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act or in pursuance of any order, regulation or direction made or given thereunder.
Section 51 - Appointment of special auditors by Government
Section 52 - Powers and duties of auditors
Section 54 - Rural Credit and Development
Section 54A - Delegation of powers
Section 54AA - Power of bank to depute its employees to other institutions
Section 57 - Liquidation of the Bank
Section 58 - Power of the Central Board to make regulations
Section 58A - Protection of action taken in good faith
Section Section 58C -Offences by companies
Section 58D - Application of section 58B barred
Section 58E - Cognizance of offences
Section 58F - Application of fine