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of <h1>Section 31 Amended: Central Government Can Authorize Banks to Issue Electoral Bonds Under New Sub-section 3</h1> In the Reserve Bank of India Act, 1934, section 31 has been amended by the Finance Act, 2017, to include a new sub-section (3). This sub-section allows the Central Government to authorize any scheduled bank to issue electoral bonds. An electoral bond is defined as a bond issued by a scheduled bank under a scheme notified by the Central Government.
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