Certain bank notes to cease to be legal tender.— Notwithstanding anything contained in section 26, no bank note of the denominational value of five hundred. Reserve Bank of India Act and Important Sections (1) Subject to the provisions of sub-section (2), bank notes shall be of the. Issue of special bank notes and special one-rupee notes in certain cases. Bank exempt from stamp duty on bank notes. Powers of Central Government to.
Related VideosRBI act 1934 - Reserve Bank of India Act in Hindi - RBI important sections
Reserve bank of india act 1934 notes -Transactions in derivatives. Nomination by depositors. Certain bank notes to cease to be legal tender. Duty to comply with directions and furnish information. From Wikipedia, the free encyclopedia. Now it is proposed to amend sub-sections 1 and 1-AA of section 42 of the Reserve Bank of India Act, to enable the Reserve Bank of India to raise, as and when necessary, the ceiling on Cash Reserve Ratio from fifteen per cent. For ensuring more effective supervision and management of the monetary and credit system by the Reserve Bank, it is desirable that the Reserve Bank should be enabled to regulate the conditions on which deposits may be accepted by these non-banking companies or institutions. Reissue of notes. Features of currency futures. Title Files. Section 31 states that in India, only the RBI or the central government can issue and accept promissory notes that are payable on demand. Obligation of Director or Member of Local Board to give information of disqualification 6. Contribution by Central Government reserve bank of india act 1934 notes the Reserve Fund. Opportunity has been taken to carry out certain further amendments in the Act-one of them being intended to extinguish the liability of the Issue Department of the Reserve Bank of India in respect of the unencashed High Denomination Notes demonetized in terms of the High Denomination Bank Notes Demonetization Ordinance,
Posted in Bank india.