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of <h1>Amendment to RBI Act: 'Securities' removed from Section 45W; new proviso allows repeal of RBI directions on notification.</h1> Section 45W of the Reserve Bank of India Act, 1934, is amended by removing the word 'securities' from sub-section (1). A new proviso is added stating that upon notification by the Central Government, any direction by the Reserve Bank regarding securities under Chapter IIID will be repealed. Actions taken under such directions will remain valid. These changes are part of broader amendments to sections 21, 45U, and 45W of the Act as proposed in the Finance Bill, 2015.
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