Question
Under Section 33(2) of the RBI Act, 1934, the aggregate
value of gold coin, gold bullion and foreign securities held as assets of the Issue Department shall not at any time be less than what amount?Solution
Section 33(2) provides that the aggregate value of the gold coin, gold bullion and foreign securities held as assets, and the aggregate value of the gold coin and gold bullion so held, shall not at any time be less than two hundred crores of rupees and one hundred and fifteen crores of rupees respectively. This sub-section was substituted by Act 48 of 1957. Hence the minimum aggregate value of gold and foreign securities together is two hundred crores of rupees.
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