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CHAPTER IV GENERAL PROVISIONS

Section 47: Allocation of surplus profits

The Reserve Bank of India Act, 1934

1 [After making provision for bad and doubtful debts, depreciation in assets, contributions to staff and superannuation fund 2[and for all other matters for which provision is to be made by or under this Act or which] are usually provided for by bankers, the balance, of the profits shall be paid to the Central Government.]

Footnotes in the official text

  1. 1.Subs. by Act 62 of 1948, s. 7 and Sch., for section 47 (w.e.f. 1-1-1949).
  2. 2.Subs. by Act 24 of 1955, s. 8, for “and such other contingencies as” (w.e.f. 8-5-1955).

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