Section 22 of RBI Act : Section 22: Right To Issue Bank Notes
RBI Act
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Explanation using Example
Imagine a scenario where a new series of banknotes is to be introduced in India. According to Section 22(1) of the Reserve Bank of India Act, 1934, only the Reserve Bank of India (RBI) has the authority to issue these banknotes. The central government, upon the RBI's recommendation, decides that the new notes will be in circulation...
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