22. Replacement of section 95 of the principal enactment

Section 95 of the principal enactment is hereby repealed and the following section substitued therefor :–

95. Where any commercial bank or any prescribed financial institution is required to maintain a reserve against any class of deposit liabilities or any category of other financial liabilities, the Central Bank shall, if so determined by the Monetary Board, in the interest of the national economy and the banking and financial systems of the country, pay to that bank or to that financial institution, as the case may be, interest at such rate as may be determined by the Monetary Board, on the amount maintained as a reserve or a part thereof.”.