Clause 134 - Amendment to section 31 of Act 2 of 1934. - Finance Bill, 2017

Amendment to section 31 of Act 2 of 1934. 134. In the Reserve Bank of India Act, 1934, in section 31, after sub-section (2), the following sub-section shall be inserted, namely:- (3) Notwithstanding anything contained in this section, the Central Government may authorise any scheduled bank to issue electoral bond. Explanation. For the purposes of this sub-section, electroal bond means a bond issued by any scheduled bank under the scheme as may be notified by the Central Government. .