Chapter IV — General Provisions

Section 58: Power of the Central Board to make regulations

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 58 empowers RBI's Central Board, with the previous sanction of the Central Government, to make regulations consistent with the Act for matters necessary or convenient to give effect to it, including the subjects enumerated in the section.

Operative provisionOfficial sources mappedProvision-specific decode

Finin2min - Section 58 in 2 minutes

Legal effectSection 58 empowers RBI's Central Board, with the previous sanction of the Central Government, to make regulations consistent with the Act for matters necessary or convenient to give effect to it, including the subjects enumerated in the section.

Operative ruleThe RBI General Regulations, 1949 are a principal example of delegated legislation under this power. Regulations are legally distinct from RBI directions issued under operational/supervisory powers such as Sections 45JA, 45L or 45W.

Connected lawA regulation cannot override the Act and should be checked for enabling power, sanction/publication and amendments.

File evidenceFor legal research, cite the regulation and enabling Section 58 provision rather than describing every RBI circular as a 'regulation'.

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.

Rule 1

The RBI General Regulations, 1949 are a principal example of delegated legislation under this power.

Rule 2

Regulations are legally distinct from RBI directions issued under operational/supervisory powers such as Sections 45JA, 45L or 45W.

Connected rule

A regulation cannot override the Act and should be checked for enabling power, sanction/publication and amendments.

Worked practical example

Facts. If a Central Board procedure is governed by the RBI General Regulations, an internal office instruction cannot displace the regulation where the two conflict.

Compliance points and common mistakes

Do not decide the issue from the heading alone. Map the facts to the operative words of Section 58 and to each relevant subsection, clause, proviso or explanation shown above.
Keep the statutory question separate from the operational overlay. A regulation cannot override the Act and should be checked for enabling power, sanction/publication and amendments.
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 58?

Power of the Central Board to make regulations: Section 58 empowers RBI's Central Board, with the previous sanction of the Central Government, to make regulations consistent with the Act for matters necessary or convenient to give effect to it, including the subjects enumerated in the section.

Which statutory limb should be checked first?

Rule 1 - The RBI General Regulations, 1949 are a principal example of delegated legislation under this power.

What is the next legal boundary?

Rule 2 - Regulations are legally distinct from RBI directions issued under operational/supervisory powers such as Sections 45JA, 45L or 45W.

What record should support the conclusion?

Section 58 file evidence: For legal research, cite the regulation and enabling Section 58 provision rather than describing every RBI circular as a 'regulation'.

Primary sources

Source control for Section 58: 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.