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When the notes are tilted, the colour of the security threads changes from green to blue. Angular lines: A series of lines placed on both the left and right side of the front of the notes, these angular lines are utilized to help those with visual impairments in identifying the notes. Used on the ₹ 100, ₹ 200, ₹ 500 and ₹ 2000 notes.
Older notes, however, are not readable. Latent image: When held against the light at an angle of 45 degrees, an inscription of the value of the denomination is seen on the right side of Mahatma Gandhi's image. Microlettering: Micro-letters are used to print RBI on ₹10 notes, and the value of the denomination on other notes. Intaglio print:
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: [13]...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex ...
The corporation was incorporated by taking over two security presses at Nashik and Hyderabad, two currency note presses at Dewas and Nashik, four mints at Mumbai, Kolkata, Hyderabad and Noida and one security paper mill at Narmadapuram which were working under the direct administrative control of the Ministry of Finance and the Department of Economic Affairs.
Section 22 states that only the RBI has the exclusive rights to issue currency notes in India. Section 24 states that the maximum denomination a note can be is ₹ 10,000 (US$120). Section 26 of Act describes the legal tender character of Indian bank notes. Section 28 allows the RBI to form rules regarding the exchange of damaged and imperfect ...
In Mardia Chemicals Ltd. v. ICICI Bank, on 8 April 2004, the Supreme Court of India declared the Sarfaesi Act to be constitutionally valid. The Court said that a borrower may appeal against the lender in the debt recovery tribunal, without having to deposit 75% of the amount of the debt.
There are several banking regulation acts in India that govern the functioning of banks and other financial institutions in the country. Some of the key acts are: [80] Reserve Bank of India Act, 1934: This is the primary legislation governing the functions and powers of the Reserve Bank of India (RBI), which is the central bank of India. The ...
The Banking Regulation Act, 1949 is a legislation in India that regulates all banking companies in India. [1] Passed as the Banking Companies Act 1949, it came into force on 16 March 1949 and changed to Banking Regulation Act 1949 from 1 March 1966. It is applicable in Jammu and Kashmir from 1956.