Banking Regulation Act, 1949
54. Protection of action taken under Act
(1) No suit or other legal proceedings shall
lie against the Central Government, the Reserve Bank or any officer for
anything which is in good faith done or intended to be done in pursuance of
this Act.
(2) Save as otherwise expressly provided by or
under this Act, no suit or other legal proceedings shall lie against the
Central Government, the Reserve Bank or any officer for any damage caused or
likely to be caused by anything in good faith done or intended to be done in
pursuance of this Act.