The Reserve Bank of India Act, 1934
Section 3. Establishment and incorporation of Reserve Bank.
1[3. Establishment and incorporation of Reserve Bank.--(1) A bank to be called the Reserve Bank of India shall be constituted for the purposes of taking over the management of the currency from the 2[Central Government] and of carrying on the business of banking in accordance with the provisions of this Act.
(2) The Bank shall be a body corporate by the name of the Reserve Bank of India, having perpetual succession and a common seal, and shall by the said name sue and be sued.
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