This is an act by the Parliament of the Republic of India to constitute the Reserve Bank of India; to regulate the issue of Bank notes and the keeping of reserves with a view to securing monetary stability in India; and generally to operate the currency any credit system of the country to its advantage. The act outlines provisions for the following topics:
1. Incorporation, Capital, Management and Business
2. Collection and Furnishing of Credit Information Provisions
3. Relating to Non-Banking Institutions Receiving Deposits and Financial Institutions
4. Prohibition of Acceptance of Deposits by Unincorporated Bodies
5. Regulation of Transactions in Derivatives, Money Market Instruments, Securities, Etc.