Section 4, Fiscal Responsibility and Budget Management Act, 2003 [S21-DWK]

As at 7 September 2026. In force from 5 August 2003.

In Fiscal Responsibility and Budget Management Act, 2003 [A11-8JV]. This text from 5 August 2003. 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, Fiscal Responsibility and Budget Management Act, 2003 [S21-DWK]. Machine: S21-DWK.

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, Fiscal Responsibility and Budget Management Act, 2003 [S21DTZ] (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, Fiscal Responsibility and Budget Management Act, 2003 [S21DTZ] (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 (4)

Circular of the Department of Financial Services dated 8th November, 2005 on section 4 of the Fiscal Responsibility and Budget Management Act, 2003 [C10-GYT], 8 November 2005, in force. The text contains "section 4 of the Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003)".

Notification S.O. 1606(E), dated 9th September, 2004 [N12-BZS], 9 September 2004, in force. The text contains "section 4 of the said Act".

Notification S.O. 3099(E), dated 3rd April, 2011 [N12-F90], 3 April 2011, in force. The text contains "section 4 of the said Act".

Notification S.O. 1003(E), dated 24th October, 2010 [N12-F4T], 24 October 2010, in force. The text contains "section 4 of the said Act".

Cited by (3)

Section 45, Fiscal Responsibility and Budget Management Act, 2003 [S21-F5C], 5 August 2003, Band A. "section 4".

Section 50, Fiscal Responsibility and Budget Management Act, 2003 [S21-FAJ], 5 August 2003, Band A. "section 4".

Rule 3, Fiscal Responsibility and Budget Management Act Rules, 2004 [S21-S96], 18 March 2004, Band A. "sub-section (1) of section 4 of the Act".

Not held (0)

none

Duties published under this section (1)

D11-PX9. 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).