Section 20: Obligation of the Bank to transact Government business

The Bank shall undertake to accept monies for account of [ *** the Central Government ***] and to make payments up to the amount standing to the credit of [its account], and to carry out [its exchange], remittance and other banking operations, including the management of the public debt [of the Union].

Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.

Supreme Court judgments citing the section 20

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