The Reserve Bank of India Act, 1934
Section 19. Business which the Bank may not transact.
Save as otherwise provided in sections 17, 18, 1[42] and 45, the Bank may not--
(1) engage in trade or otherwise have a direct interest in any commercial, industrial or other undertaking except such interest as it may in any way acquire in the course of the satisfaction of any of its claims: provided that all such interests shall be disposed of at the earliest possible moment;
2[(2) purchase the shares of any banking company or of any other company, or grant loans upon the security of any such shares;]
(3) advance money on mortgage of, or otherwise on the security of, immovable property or documents of title relating thereto, or become the owner of immovable property, except so far as is necessary for its own business premises and residences for its officers and servants;
(4) make loans or advances;
(5) draw or accept bills payable otherwise than on demand;
(6) allow interest on deposits or current accounts.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
Cases citing this section
No order or office report we hold cites this section yet.
Source: Order and office-report PDFs whose text cites the section, read by rule (document_citations); each case through its orders and office reports that carry the PDF