The International Monetary Fund and Bank Act, 1945
Learn about the International Monetary Fund and Bank Act of 1945, which establishes India's membership in the International Monetary Fund and the International Bank for Reconstruction and Development.
Summary
The International Monetary Fund and Bank Act, 1945, is an Indian law that was enacted to establish India's membership in the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD). The act sets out the terms and conditions of India's membership in these international organizations, including the amount of India's initial subscription to the IMF and the IBRD, as well as the terms of any future contributions. The act also outlines the rights and obligations of India as a member of the IMF and the IBRD, including its right to access resources from these organizations and its obligation to pay its subscriptions on time.
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 1: Short Title, Extent And Commencement | Open |
| 2 | Section 2: Payments To International Fund And Bank | Open |
| 3 | Section 3: Reserve Bank To Be Depository For International Fund And Bank | Open |
| 4 | Section 3A: Reserve Bank To Use, Receive, Acquire, Etc, Special Drawing Rights On Behalf Of Central Government | Open |
| 5 | Section 4: Power To Call For Information | Open |
| 6 | Section 5: Certain Provisions Of Agreements To Have Force Of Law | Open |
| 7 | Section 6: Repealed | Open |
| 8 | Section 7: Power To Make Rules | Open |