Obligation to supply different forms of currency (1) The Bank shall issue rupee coin on demand in exchange for bank notes and currency notes of the Government of India, and shall issue currency notes or bank notes on demand in exchange for coin which is legal tender under the [Coinage Act, 2011 (11 of 2011)]. (2) […]
Obligations of Government and the Bank in respect of rupee coin The Central Government shall undertake not [***] to put into circulation any rupees, except through the Bank; and the Bank shall undertake not to dispose of rupee coin otherwise than for the purposes of circulation [***].
Suspension of assets requirements as to foreign securities Notwithstanding anything contained in the foregoing provisions, the Bank may, with the previous sanction of the Central Government, for periods not exceeding six months in the first instance, which may, with the like sanction, be extended from time to time by periods not exceeding three months at
Method of dealing with fluctuations in rupee coin assets. [Omitted by the Banking Laws (Miscellaneous Provisions) Act, 1963, w.e.f. 1-2-1964. Earlier, it was amended by the Reserve Bank of India (Amendment) Act, 1951, w.e.f. 1-11-1951.] © Copyright. Taxmann Publications Pvt. Ltd.
Initial assets and liabilities [Omitted by the Reserve Bank (Transfer to Public Ownership) Act, 1948, w.e.f. 1-1-1949.]
Starting a business in India is an exciting journey, but it comes with its share of legal responsibilities. The Companies Act, 2013, serves as the foundation for corporate governance, ensuring transparency, accountability, and smooth business operations. While large corporations have dedicated teams to handle compliance, startups often struggle with legal requirements due to limited resources.
Liabilities of the issue department. (1) The liabilities of the Issue Department shall be an amount equal to the total of the amount of the currency notes of the Government of India and bank notes for the time being in circulation. (2) [Omitted by the Banking Laws (Miscellaneous Provisions) Act, 1963, w.e.f 1-2-1964. Earlier, it
Resultant to this historic amendment, bamboo grown in the non-forest area is out of the scope of regulations on the forest produces. During the year 2022-23, the NBM has been merged with Mission for Integrated Development of Horticulture (MIDH) scheme. The restructured National Bamboo Mission primarily focuses on the development of complete value chain of
A dividend can be described as a reward that publicly-listed companies extend to their shareholders, and its source is the company’s net profit. Such rewards can either be in the form of cash, cash equivalent, shares, etc. and are mostly paid from the remaining share of profit once essential expenses are met. A company’s board of directors
One of the preferred retirement savings funds by the working class is the Public Provident Fund (PPF). The long-term investment horizon and the magic of compounding may be the key reasons for its popularity along with the income tax exemption available on it. Public Provident Fund (PPF) schemes are one of the most popular long-term
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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