- 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.'.
