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Union of India - Act

The Reserve Bank Of India (Amendment And Miscellaneous Provisions) Act, 1953

UNION OF INDIA
India

The Reserve Bank Of India (Amendment And Miscellaneous Provisions) Act, 1953

Act 54 of 1953

  • Published on 1 January 1953
  • Commenced on 1 January 1953
  • [This is the version of this document from 1 January 1953.]
  • [Note: The original publication document is not available and this content could not be verified.]
An Act further to amend the Reserve Bank of India Act, 1934, and to make special provisions in respect of certain high denomination bank notes.

1. Short title.-

This Act may be called the Reserve Bank of India (Amendment and Miscellaneous Provisions) Act, 1953 . 2 to Amendments to the Reserve Bank of India Act, 1934 . 2 to 8.[ Amendments to the Reserve Bank of India Act, 1934 .] Rep. by the Repealing and Amending Act, 1957 (36 of 1957 ) s. 2 and Sch. I.

9. Ordinance 3 of 1946 not to apply to certain high denomination bank notes.-

Nothing contained in the High Denomination Bank Notes (Demonetisation) Ordinance, 1946 (3 of 1946 ) shall apply to any bank note of the denominational value of five hundred rupees, one thousand rupees or ten thousand rupees issued after the commencement of this Act, but no such bank note issued before the 13th day of January, 1946 (3 of 1946 ) shall be legal tender in payment or on account of the amount expressed therein at any place in India.