Section 4, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-53J]

As at 7 September 2026. In force from 15 January 1948.

In Reserve Bank (Transfer of Public Ownership) Act, 1948 [A10-BS9]. This text from 15 January 1948. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 4, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-53J]. Machine: S19-53J.

4. Registration of financials institution.—(1) Every financial institution shall, within seven days from the commencement of this Act or, where such person begins the business of a financial institution after such commencement, within seven days from the date of such beginning, make an application for registration to the Reserve Bank in Form B, accompanied by a fee of two thousand rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No financial institution shall carry on the business of a financial institution unless registered under this section.

Defined terms in this text (2)

financial institution: Section 2, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S1951P] (In this Act, unless the context otherwise requires,—): "financial institution" means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934)

financial institution: 25 more definitions.

Reserve Bank: Section 2, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S1951P] (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.

Made under this section, or naming it (0)

none

Cited by (3)

Section 53, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-6MN], 15 January 1948, Band A. "section 4".

Section 58, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-6SF], 15 January 1948, Band A. "section 4".

Rule 3, Reserve Bank (Transfer of Public Ownership) Act Rules, 1949 [S19-ZEF], 3 June 1949, Band A. "sub-section (1) of section 4 of the Act".

Not held (0)

none

Duties published under this section (1)

D10-EFF. Every financial institution: Apply for registration to the Reserve Bank in Form B, fee two thousand rupees; seven days from the commencement of the Act, or from beginning the activity; Form B. Published by Department of Financial Services, Ministry of Finance (synthetic record).