Section 32, Fiscal Responsibility and Budget Management Act, 2003 [S21-ERQ]

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 32, Fiscal Responsibility and Budget Management Act, 2003 [S21-ERQ]. Machine: S21-ERQ.

32. Registration of borrowers.—(1) Every borrower shall, within thirty days from the commencement of this Act or, where such person begins the borrowing of money after such commencement, within thirty days from the date of such beginning, make an application for registration to the Reserve Bank in Form C, accompanied by a fee of ten 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 borrower shall carry on the borrowing of money unless registered under this section.

Defined terms in this text (2)

borrower: Section 2, Fiscal Responsibility and Budget Management Act, 2003 [S21DTZ] (In this Act, unless the context otherwise requires,—): "borrower" means any person who has been granted financial assistance by any bank or financial institution or who has given any guarantee or created any mortgage or pledge as security for the financial assistance granted

borrower: 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 (0)

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