Bank to transact Government business of [***] States on agreement
(1) The Bank may by agreement with the Government of any [***] State [***] undertake—
| (a) | all its money, remittance, exchange and banking transactions in India, including in particular, the deposit, free of interest, of all its cash balances with the Bank; and | |
| (b) | the management of the public debt of, and the issue of any new loans by, that State. |
(2) Any agreement made under this section shall be laid, as soon as may be after it is made, before Parliament.]