Section 3, Usurious Loans Act, 1918 [S16-QFZ]
As at 7 September 2026. In force from 14 January 1918.
3. Appointment of Reserve Bank.—(1) The Central Government may, by notification, appoint an authority, to be known as the Reserve Bank, to exercise the powers and perform the functions conferred on it by or under this Act. (2) The Reserve Bank may, with the previous approval of the Central Government, appoint such officers and other employees as it considers necessary for the efficient discharge of its functions under this Act. (3) The Central Government may, by notification, direct that any power exercisable by it under this Act, except the power to make rules under section 19, shall, in relation to such matters and subject to such conditions as may be specified in the notification, be exercisable also by the Reserve Bank.
Defined terms in this text (1)
Reserve Bank: Section 2, Usurious Loans Act, 1918 [S16QEX] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
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