In the Reserve Bank of India Act, 1934, in section 58, in sub-section (2), after clause (p), the fo llowing clause shall be inserted, namely:- "(pp) the regulation of fund transfer thro ugh electronic means between the banks or b etween the banks and other financial institutions referred to in clause (c) of section 45-1, including the laying down of the conditions subject to which banks and other financial institutions shall participate in such fund transfers, the manner of such fund transfers and the rights and obligations of the participants in such fund transfers;".

SUBHASH C. JAIN,
Secy. to the Govt. of India.