Reserve Bank of India Act,1934

Act No : 2

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Section : Delegation of powers

6*[54A. Delegation of powers.- (1) The Governor may, by general or special order, delegate to a Deputy Governor, subject to such conditions and limitations, if any, as may be specified in the order, such of the powers and functions exercisable by him 9*** under this Act or under any other law for the time being in force as he may deem necessary for the efficient administration of the functions of the Bank. ---------------------------------------------------------------------- 1. Subs. by the M. O. 1937, for "the form set out in the Fifth Schedule or in such other". 2. Subs. by Act 24 of 1978, s. 9, for certain words (w.e.f. 21-7- 1978). 3. See also s. 4 of Act 7 of 1940. 4. Sub-section (3) was rep. by Act 62 of 1948, s. 7 and Sch. (w.e.f. 1-1-1949). 5. Sch. by Act 61 of 1981, s. 61 and Sch II (w.e.f. 12-7-1982). 6. Ins. by Act 24 of 1955, s. 10. 7. The words "by or" omitted by Act 58 of 1960, s. 3 and Sch. II. 42L (2) The fact that a Deputy Governor exercises any power or does any act or thing in pursuance of this Act shall be conclusive proof of his authority to do so.]

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