Section 24 - Denominations of notes, Section 25- Form of bank notes: RBI Act 1934
What is Denominations of notes? What is Form of bank notes?
Section 24 and 25 of
Reserve Bank of India Act 1934
Section 24 of RBI Act 1934 : "Denominations of notes"
(1) Subject to the provisions of sub-section (2),
bank notes shall be of the denominational values of
two rupees, five rupees, ten rupees, twenty rupees,
fifty rupees, one hundred rupees, five hundred
rupees, one thousand rupees, five thousand rupees
and ten thousand rupees or of such other
denominational values, not exceeding ten thousand
rupees, as the Central Government may, on the
recommendation of the Central Board, specify in this
(2) The Central Government may, on the recommendation of the
Central Board, direct the non-issue or the discontinuance of
issue of bank notes of such denominational values as it may
specify in this behalf.
Section 25 of RBI Act 1934: "Form of bank
The design, form and material of bank notes shall be such as
may be approved by the Central Government after consideration of
the recommendations made by the Central Board.