Question
Under Section 28A of the RBI Act, 1934, special bank
notes for controlling circulation outside India may be issued in which denominational values?Solution
Section 28A empowers the Bank, for the purpose of controlling the circulation of bank notes outside India, to issue special bank notes of the denominational values of five rupees, ten rupees and one hundred rupees. Neither the special bank notes nor the special one rupee notes shall be legal tender in India. The design, form and material are approved by the Central Government. The correct denominations for special bank notes are five, ten and one hundred rupees.
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