Rule 10, Reserve Bank (Transfer of Public Ownership) Act Rules, 1949 [S19-ZNW]
As at 7 September 2026. In force from 3 June 1949.
10. Procedure for the enforcement of security interest.—(1) Every secured creditor shall, before undertaking the enforcement of security interest, intimate the Reserve Bank in writing, specifying the licence concerned and the period for which it is proposed to be undertaken. (2) The Reserve Bank may, within seven days of the receipt of the intimation, require the person to furnish such further particulars as it considers necessary.
Defined terms in this text (1)
Reserve Bank: Section 2, Forfeited Deposits Act, 1850 [S11A6B] (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: Section 2, Rent Recovery Act, 1853 [S11HSK] (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: Section 2, Government Savings Banks Act, 1873 [S133PZ] (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: 22 more definitions.
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