Section 42(1C) in The Reserve Bank of India Act, 1934
(1C)The Bank may, for the purposes of this section, specify from time to time with reference to any transaction or class of transÂactions that such transaction or transactions shall be regarded as liability in India of a scheduled bank, and if any question arises as to whether any transaction or class of transactions shall be regarded, for the purposes of this section, as liability in India of a scheduled bank, the decision of the Bank thereon shall be final.
