The Reserve Bank of India Act, 1934
Section 20. Obligation of the Bank to transact Government business.
The Bank shall undertake to accept monies for account of 1[ 2*** the Central Government 3***] and to make payments up to the amount standing to the credit of 4[its account], and to carry out 5[its exchange], remittance and other banking operations, including the management of the public debt 6[of the Union].
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