The Reserve Bank of India acts as a banker to the Central and State Governments in terms of the provisions of Sections 20,21 and 21 A of the Reserve Bank of India Act, 1934. The Reserve Bank carries out the general banking business of the governments through its own Offices and branches of public sector banks. The business of State Government is done by the RBI and Agency Banks by means of an agreement entered into between the State Governments, RBI and Agency Banks.
The list of Sub- treasuries authorised to conduct State Government Business is as under-
- Service Branch, Ahmedabad
- M.I. Road, Jaipur
- Serviceli Branch, Mumbai
- Service Branch, Kanpur
- Haldwani, Uttarakhand
- Rajaji, Chennai
- Saja, Raipur, Chhattisgarh
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