Banking Regulation Act, 1949 · Section guide
Section 55: Amendment of Reserve Bank of India Act, 1934
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 55 — Amendment of Reserve Bank of India Act, 1934. Amends the Reserve Bank of India Act, 1934 in the manner set out. In the First Schedule and gives the stated historical effect to specified amendments; it is primarily a consequential/historical bridge provision.
Official statute linkedProvision-specific anatomyPractical case + evidence file
Statutory structure and provision map
This map is a provision-specific explanation, not a substitute for the exact statutory text.
Core statutory rule
Amends the Reserve Bank of India Act, 1934 in the manner set out in the First Schedule and gives the stated historical effect to specified amendments.
Condition / limitation
it is primarily a consequential/historical bridge provision.
Source and effective-date control
Apply the wording of Section 55 that was in force on the event date; use the official Act and any applicable commencement/amending instrument linked on this page.
Professional application
Give a precise historical amendment bridge and First Schedule mapping with effective-date notes.
Evidence / working-paper checklist
- Section 55 evidence: the statutory event document.
- Section 55 evidence: the competent authority record.
- Section 55 evidence: any rule/notification governing the event.
- Section 55 evidence: dated conclusion and supporting official source.
Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.
Common mistakes to avoid
- For Section 55, avoid relying only on the marginal heading.
- For Section 55, avoid ignoring an express exception or cross-reference.
- For Section 55, avoid recording a conclusion without the primary source and event date.
Related sections inside the Act
Use these links to read Section 55 in its statutory sequence, especially where the provision imports definitions, approvals, appeals, penalties or winding-up consequences from neighbouring sections.
Current-law source control
Source control: Section 55 is anchored to the official DFS consolidated text; later changes require separate Gazette verification.
Dated matters: verify any later Gazette, RBI direction or binding judgment affecting Section 55 on the event date.
Primary official sources
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Disclaimer
This Finin2min page is an educational and professional reference. Banking regulation is fact-, entity- and date-sensitive. Verify the current Act, Gazette amendments and commencement notifications, applicable RBI Rules/directions and the transaction record before acting or filing.