Discussion
Provisions regarding central banking functions has been described in which chapter of The Reserve Bank of India Act1934?
Answer: A
The central banking functions of the Reserve Bank are described in Chapter III of the Reserve Bank of India Act, 1934, which begins with the Bank's sole right to issue bank notes and covers its role as banker to the Government and to banks and its management of reserves.
Chapter II deals with the incorporation, capital, management and business of the Bank, so it describes the Bank as a corporate body rather than its central banking functions. The later chapters, including the ones named in the other options, deal with general, penal and other provisions of the Act.
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