Reserve Bank of India Act, 1934
Section - 34 - Liabilities of the issue department
Liabilities of the issue department.
34. (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 was substituted by the Reserve Bank of India (Amendment) Act, 1957.]
CAclubindia
