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THE RESERVE BANK OF INDIA ACT, 1934 · CENTRAL BANKING FUNCTIONS

Section 20 — Obligation of the Bank to transact Government business

The Bank shall undertake to accept monies for account of 4[5*** the Central Government 6***] and to make payments up to the amount standing to the credit of 7[its account], and to carry out 8[its exchange], remittance and other banking operations, including the management of the public debt 9[of the Union].