Section 42(1)(c) in The Reserve Bank of India Act, 1934

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Union of India - Subsection

Section 42(1)(c) in The Reserve Bank of India Act, 1934

(c)“liabilities” shall not include—

(i)the paid-up capital or the reserves or any credit balance in the profit and loss account of the bank;

(ii)the amount of any loan taken from the Bank or from the Exim Bank or from the Reconstruction Bank or from the National Housing Bank or from the National Bank or from the Small Industries Bank ;

(iii)in the case of a State co-operative bank, also any loan taken by such bank from a State Government or from the National Co-operative Development Corporation established under the National Co-operative Development Corporation Act, 1962 (26 of 1962) and any deposit of money with such bank representing the reserve fund or any part thereof maintained with it by any co-operative society within its area of operation;

(iv)in the case of a State co-operative bank, which has granted an advance against any balance maintained with it, such balance to the extent of the amount outstanding in respect of such advance;

(v)in the case a Regional Rural Bank, also any loan taken by such bank from its Sponsor Bank;

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Union of India - Subsection

Section 42(1)(c) in The Reserve Bank of India Act, 1934