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of <h1>New Sub-Section in RBI Act Allows Scheduled Banks to Issue Electoral Bonds Under Central Government Scheme, Section 31 Amendment</h1> An amendment to the Reserve Bank of India Act, 1934, introduces a new sub-section to section 31. This sub-section allows the Central Government to authorize any scheduled bank to issue electoral bonds. The term 'electoral bond' is defined as a bond issued by a scheduled bank under a scheme notified by the Central Government.
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