Reserve Bank of India General (Amendment) Regulations, 2020 : Annual statement of accounts

Reserve Bank of India General (Amendment) Regulations, 2020 : Annual statement of accounts

RESERVE BANK OF INDIA

(Department of Government and Bank Accounts) 

NOTIFICATION

Mumbai, the 11th November, 2020

Amendment to Regulation 22, 22 (a) and (b) and Regulation 23 (v) of RBI General Regulations, 1949 F. No. DGBA/DBA/No 342/62.01.033/2020-21.—In exercise of the powers conferred by section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board, with the previous sanction of the Central Government, hereby makes the following regulations further to amend the Reserve Bank of India General Regulations, 1949, namely:—

1. Short title and commencement.—

(1) These regulations may be called the Reserve Bank of India General (Amendment) Regulations, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Reserve Bank of India General Regulations, 1949, —

(i) for regulation 22, the following regulation shall be substituted namely:-

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22. Annual statement of accounts - The Central Board shall cause the books of the Bank to be balanced on the last working day of the month of March in each year and the annual accounts shall be set out as follows:-

(a) a Balance Sheet in the following form and containing the particulars, namely: -

RESERVE BANK OF INDIA 

BALANCE SHEET AS ON MARCH 31

(Amount in ₹ crore)

Liabilities	Sched ules	Previ ous year	Current year	Assets	Sched ules	Previ ous year	Current year
Capital Reserve fund Other reserves				Assets of Banking Department (BD ) Notes, rupee coin, small coin Gold — BD

Deposits Risk Provisions Contingency Fund Asset Development Fund Revaluation Accounts Other Liabilities Liabilities of Issue Department Notes issued				Investments —Foreign — BD Investments —Domestic — BD Bills purchased and discounted Loans and advances Investment in subsidiaries Other assets Assets of Issue Department (ID) (As backing for Notes issued) Gold — ID Rupee coin Investments —Foreign — ID Investments —Domestic — ID Domestic bills of exchange and other commercial papers
Total Liabilities				Total Assets

Chief General	Deputy	Deputy	Deputy	Deputy	Governor
Manager	Governor	Governor	Governor	Governor

(b) an Income Statement for the year, in the following form and containing the particulars, namely: —

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RESERVE BANK OF INDIA

INCOME STATEMENT FOR THE YEAR ENDED MARCH 31………

(Amount in ₹ crore)

INCOME	Schedules	Previous year	Current year
Interest Other income
Total
EXPENDITURE
Printing of Notes Expenditure on Remittance of Currency Agency charges Employee cost Interest Postage and Telecommunication Charges Printing and Stationery Rent, Taxes, Insurance, Lighting, etc. Repairs and Maintenance Directors’ and Local Board Members’ Fees and Expenses

Auditors’ Fees and Expenses Law Charges Depreciation Miscellaneous Expenses Provisions
Total
Available Balance Less:
(a) Contribution to: (i) National Industrial Credit (Long Term Operations) Fund (ii) National Housing Credit (Long Term Operations) Fund (b) Transferable to NABARD: (i) National Rural Credit (Long Term Operations) Fund1 (ii) National Rural Credit (Stabilisation) Fund1 (c) Others (specify major items)
Surplus payable to the Central Government

1These funds are maintained by the National Bank for Agriculture and Rural Development (NABARD).

 

Chief General Manager

 

Deputy Governor

 

Deputy Governor

 

Deputy Governor

 

Deputy Governor

Governor

(ii) in regulation 23, for clause (v), the following clause shall be substituted, namely: —

(v) the items in the account prescribed by the Central Government under section 53 of the Act shall be presented in nearest crore rupees.

SUDHA BALAKRISHNAN, Chief Financial Officer

[ADVT.-III/4/Exty./345/2020-21]

Note: The principal regulations were made in 1949 when there was no requirement to notify in the Official Gazette. The requirement to notify the regulations was inserted by section 6 of Act No. 66 of 1988 with effect from 30th December, 1988 vide notification number 93 dated 19th December, 1988 and were last amended vide notification number DGBA/Accts/ BAAS No. 18/62.01.022/2015-16, dated the 3rd July, 2015 and notification number DGBA/Accts/ BAAS No. 129/62.01.022/2015-16, dated the 8th July, 2015.

Source : http://www.egazette.nic.in/WriteReadData/2020/223051.pdf

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