The Reserve Bank of India Act

Obligation of the Bank to transact Government business

[Omitted.]

Bank to have the right to transact Government business in India

Bank to transact Government business of States on agreement

Effect of agreements made between the Bank and certain States before the 1st November, 1956

Right to issue bank notes

Issue Department

Denominations of notes

Form of bank notes

Legal tender character of notes

Certain bank notes to cease to be legal tender

Re-issue notes

Recovery of notes lost, stolen, mutilated or imperfect

Issue of special bank notes and special one rupee notes in certain cases

Bank exempt from stamp duty on bank notes

Powers of Central Government to supersede Central Board

Issue of demand bills and notes

Assets of the Issue Department

Liabilities of Issue Department

Suspension of assets requirements as to foreign securities

Obligations of Government and the Bank in respect of rupee coin

Obligation to supply different forms of currency

Transactions in foreign exchange

Cash reserves of scheduled banks to be kept with the Bank

Publication of consolidated statement by the Bank

Protection of action taken in good faith

Appointment of agents


CENTRAL BANKING FUNCTIONS


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 1*** issued by it.

LAWGIST

# 29 Bank exempt from stamp duty on bank notes