Clause 136 - Amendment of section 45-IA. - Finance (No. 2) Bill, 2019

Amendment of section 45-IA. 136. In the Reserve Bank of India Act, 1934 (2 of 1934.) (hereafter in this Part referred to as the principal Act), in section 45-IA, in sub-section (1), for clause (b), the following shall be substituted, namely:- (b) having the net owned fund of twenty-five lakh rupees or such other amount, not exceeding hundred crore rupees, as the Bank may, by notification in the Official Gazette, specify: Provided that the Bank may notify different amounts of net owned fund for different categories of non-banking financial companies. .