Section 32 – Reserve Bank of India Act, 1934
[Omitted by the Reserve Bank of India (Amendment) Act, 1974.]
April 2025
Section 31 – Reserve Bank of India Act, 1934
Issue of demand bills and notes (1) No person in [India] other than the Bank or, as expressly authorized by this Act, the Central Government shall draw, accept, make or issue any bill of exchange, hundi, promissory note or engagement for the payment of money payable to bearer on demand, or borrow, owe or take up
Section 30 – Reserve Bank of India Act, 1934
Powers of Central Government to supersede Central Board (1) If in the opinion of the Central Government the Bank fails to carry out any of the obligations imposed on it by or under this Act the Central Government may, by notification in the Gazette of India, declare the Central Board to be superseded, and thereafter
Section 29 – Reserve Bank of India Act, 1934
Bank exempt from stamp duty on bank notes The Bank shall not be liable to the payment of any stamp duty under the Indian Stamp Act, 1899 (2 of 1899), in respect of bank notes issued by it.
Section 28A – Reserve Bank of India Act, 1934
Issue of special bank notes and special one rupee notes in certain cases (1) For the purpose of controlling the circulation of bank notes without India, the Bank may, notwithstanding anything contained in any other provision of this Act, issue bank notes of such design, form and material as may be approved under sub-section (3)
Section 28 – Reserve Bank of India Act, 1934
Recovery of notes lost, stolen, mutilated or imperfect Notwithstanding anything contained in any enactment or rule of law to the contrary, no person shall of right be entitled to recover from the Central Government or the Bank, the value of any lost, stolen, mutilated or imperfect currency note of the Government of India, or bank
Section 27 – Reserve Bank of India Act, 1934
Re-issue of notes The Bank shall not re-issue bank notes which are torn, defaced or excessively spoiled.
Section 26A – Reserve Bank of India Act, 1934
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 rupees, one thousand rupees or ten thousand rupees issued before the 13th day of January, 1946, shall be legal tender in payment or on account for the amount expressed therein.]
Section 26- Reserve Bank of India Act, 1934
Legal tender character of notes (1) Subject to the provisions of sub-section (2), every bank note shall be legal tender at any place in [India] in payment or on account for the amount expressed therein, and shall be guaranteed by the Central Government. (2) On recommendation of the Central Board the Central Government may, by notification
Cash flow statements
Cash availability in a business at any point in time contributes significantly to its day-to-day liquidity condition. It is thus essential for any business to be aware of its cash flow periodically. To do so, one must, therefore, have a basic understanding of the flow of cash along with its forecasting methods. Cash Flow Definition Cash flow refers
