Central Govt. can make rules for preservation of records/books u/s ______ of BR Act. RBI can make rules u/s ______ of BR Act and banks can return the paid instruments to customers u/s ________ of BR Act.

In exercise of the powers conferred by section 45Y of the Banking Regulation Act, 1949 (10 of 1949), the Central Government, after consultation with the Reserve Bank of India, hereby makes the following rules, namely: Every banking company shall preserve, in good order, its books, accounts and other documents, relating to a period of not less than five years immediately preceding the current calendar year.

Reserve Bank may, having regard to the factors specified in sub-section (1) of section 35A, by an order in writing, direct any banking company to preserve any of the books, accounts or other documents mentioned in those rules, for a period longer than the period specified for their preservation, in the said rules.

45-ZC states - Nomination for return of articles kept in safe custody with banking cornpany - (1) Where any person leaves any article in safe custody with a banking company such person may nominate, in the prescribed manner, one person to whom in the event of the death of the person leaving the articles in safe custody, such article may be returned by the banking company.