PART VIII MISCELLANEOUS STATUTORY RULES AND EXECUTIVE INSTRUCTIONS CHAPTER I THE INDIAN COINAGE RULES
PART VIII MISCELLANEOUS STATUTORY RULES AND EXECUTIVE INSTRUCTIONS CHAPTER I THE INDIAN COINAGE RULES
COIN
A Statement of denomination-wise coins under circulation with
desccription of size, weight, composition, etc.,
CHAPTER III
CURRENCY AND BANK NOTES
Instructions issued by the Reserve Bank of India
1. Denominations of Notes.—Under the provisions of the Reserve Bank of India Act (India Act II of 1934) the sole right to issue bank notes in India has been vested in the Reserve Bank with effect from the 1st April 1935 and the Government of India have ceased to issue, currency notes. The Reserve Bank has taken over the liability for the currency notes issued by the Government of India.
2. Currency notes of the denominational values of one rupee, five rupees, ten rupees, twenty rupees, fifty rupees, one hundred rupees, five hundred rupees, one thousand rupees and ten thousand rupees have been issued by the Government. Under the provisions of the Reserve Bank of India Act, these notes are now legal tender throughout India. The issue of currency notes of the denominational value of one rupee, and twenty rupees has been discontinued and currency notes of the other denominational values supplied by the Government have been issued by the Reserve Bank in addition to its own notes.
3. Bank notes issued by the Reserve Bank will be of the denominational values of two rupees, five rupees, ten rupees, one hundred rupees, one thousand rupees, five thousand rupees and ten thousand rupees unless otherwise directed by the Government on the recommendations of the Central Board of the Bank. Bank notes and currency notes issued by the Bank are legal tender throughout India.
NOTE— Bank notes and currency notes of the denominational values of five hundred rupees, one thousand rupees, and ten thousand rupees prior to 13th January 1946 were demonetized with effect from that date and are no longer legal tender. Bank notes of the denominational values of one thousand rupees, five thousand rupees and ten thousand rupees in the Asoka Pillar design have been issued with effect from 1st April 1954 and are legal tender.