Reserve Bank of India – Section 2(95) | Income-tax Act, 2025 vs 1961

§ 2(95) · Income-tax Act, 2025

Reserve Bank of India

ITA 2025 · 2(95) ★ New in 2025
Definition — Section 2(95)

Means the Bank constituted under section 3(1) of the Reserve Bank of India Act, 1934 — a body corporate with perpetual succession and a common seal, established to take over management of currency from the Central Government and carry on the business of banking in accordance with that Act. It is India's central bank responsible for monetary policy, currency issuance, and regulation of the banking system.

Act Comparison
Income-tax Act, 2025
2(95)
Reserve Bank of India
Income-tax Act, 1961
—
No direct equivalent
Newly defined in 2025
Key Points
  • New explicit definition in the 2025 Act
  • RBI is referenced in multiple provisions — currency, banking regulations, FEMA
  • RBI's interest income has specific tax treatment
💡 Practical Note

The RBI itself has special tax status — its income from operations is exempt under the 2025 Act, corresponding to Section 10(15) of the 1961 Act.

Published by Simplified Tax India — Clear, section-wise comparison of Income-tax Acts. ← Back to Section 2 Definitions Table
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