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104. Amendment of Act 2 of 1934.-

With effect from the appointed day, the following amendments shall be made in the Reserve Bank of India Act, 1934 (2 of 1934), namely:-

(1) in section 2, in the proviso to clause (f), for the words "any Central co-operative society in that State to be a State co-operative bank", the words "any one or more co-operative societies carrying on business in that State to be a State co-operative bank or banks" shall be substituted.

(2) in section 20,-

(a) the words and letter "and the Governments of Part A States" shall be omitted;

(b) for the words "their accounts respectively", the words "its account" shall be substituted;

(c) for the words "their exchange", the words "its exchange" shall be substituted;

(d) after the words "public debt", the words "of the Union" shall be inserted;

(3) in section 21,-

(a) in sub-section (1),-

(i) the words "and the State Governments" wherever they occur, shall be omitted;

(ii) for the word "their", at both places where it occurs, the word "its" shall be substituted;

(iii) in the proviso, the words "or any State Government" shall be omitted, and for the word "they" the word "it" shall be substituted;

(b) in sub-section (2), the words "and each State Government" shall be omitted;

(c) for sub-section (4), the following sub-section shall be substituted, namely:-

"(4) Any agreement made under this section shall be laid, as soon as may be after it is made, before Parliament"; and

(d) sub-section (5), shall be omitted;

(4) in sub-section (1) of section 21-A, the word and letter "Part B" shall be omitted;

(5) after section 21-A, the following section shall be inserted, namely:-

States Reorganisation Act, 1956 Back

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