Notification S.O. 3099(E), dated 3rd April, 2011 [N12-F90]
As at 7 September 2026. In force from 3 April 2011.
S.O. 3099(E).—In exercise of the powers conferred by section 10 of the Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts depositors whose the borrowing of money does not exceed fifty thousand rupees in value in a financial year from the provisions of section 4 of the said Act, subject to the condition that every such person shall intimate the Reserve Bank in writing of the commencement of the borrowing of money within thirty days of such commencement.
Made under
Recital: "In exercise of the powers conferred by section 10 of the Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003), the Central Government, being satisfied that it is necessary in the public interest so to do". Names section 10 of the Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003) [S21-E26]. Vires verified.
Acts on (1)
Exempts Section 4, Fiscal Responsibility and Budget Management Act, 2003 [S21-DWK], 3 April 2011. "section 4 of the said Act".
Acted on by (0)
none
Not held (0)
none