Reserve Bank of India Act : Obligation of the Bank to transact Government business Indian Bare Acts :

Reserve Bank of India Act,1934

Act No : 2

Section : Obligation of the Bank to transact Government business

20. Obligation of the Bank to transact Government business. The Bank shall undertake to accept monies for account of 1*[2*** the Central Government, 3*] and to make payments up to the amount standing to the credit of 4*[its account], and to carry out 5*[its exchange], remittance and other banking operations, including the management of the public debt 6*[of the Union]. 7* * * * *