Chapter III — Central Banking Functions

Section 45: Appointment of agents

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45 permits RBI to appoint specified banks as its agents at places in India for purposes RBI specifies, unless the Central Government directs otherwise for a place.

Operative provisionOfficial sources mappedProvision-specific decode

Finin2min - Section 45 in 2 minutes

Legal effectSection 45 permits RBI to appoint specified banks as its agents at places in India for purposes RBI specifies, unless the Central Government directs otherwise for a place.

Operative rulePayments or securities required by law to be made/delivered into RBI may be made/delivered to an appointed agent when the statutory conditions are met.

Connected lawThe agency appointment should be distinguished from ordinary correspondent banking or Government agency-bank arrangements under Sections 21/21A.

File evidenceFor proof of valid delivery/payment, retain the agency status of the receiving bank and the purpose for which it was appointed.

Statutory structure and clause / subsection decode

This map separates the operative limbs of this provision so thresholds, powers, conditions and exceptions are not collapsed into a single summary.

Scope

Section 45 permits RBI to appoint specified banks as its agents at places in India for purposes RBI specifies, unless the Central Government directs otherwise for a place.

Operative limb

Payments or securities required by law to be made/delivered into RBI may be made/delivered to an appointed agent when the statutory conditions are met.

Legal boundary

The agency appointment should be distinguished from ordinary correspondent banking or Government agency-bank arrangements under Sections 21/21A.

Worked practical example

Facts. A statutory payment delivered to a bank that is not an RBI agent for that purpose may not automatically amount to delivery into RBI merely because the bank is regulated by RBI.

Compliance points and common mistakes

Do not decide the issue from the heading alone. Map the facts to the operative words of Section 45 and to each relevant subsection, clause, proviso or explanation shown above.
Keep the statutory question separate from the operational overlay. The agency appointment should be distinguished from ordinary correspondent banking or Government agency-bank arrangements under Sections 21/21A.
Do not convert an exception, exemption or discretionary RBI/Government power into an automatic entitlement. Record the authority, conditions and effective date.
Where the provision is historical, omitted or repealed, state that status prominently and do not present it as a current compliance obligation.

Connected provisions and instruments

Reserve Bank of India General Regulations, 1949Delegated regulations under the RBI Act governing institutional and operational matters.

Questions and answers

What is the purpose of Section 45?

Appointment of agents: Section 45 permits RBI to appoint specified banks as its agents at places in India for purposes RBI specifies, unless the Central Government directs otherwise for a place.

Which statutory limb should be checked first?

Scope - Section 45 permits RBI to appoint specified banks as its agents at places in India for purposes RBI specifies, unless the Central Government directs otherwise for a place.

What is the next legal boundary?

Operative limb - Payments or securities required by law to be made/delivered into RBI may be made/delivered to an appointed agent when the statutory conditions are met.

What record should support the conclusion?

Section 45 file evidence: For proof of valid delivery/payment, retain the agency status of the receiving bank and the purpose for which it was appointed.

Primary sources

Source control for Section 45: use the official consolidated RBI Act for the statutory text and footnotes, then separately reconcile any post-Finance Act 2022 amendment, commencement notification or RBI instrument relevant to the event date.