Section 34 - Liabilities of the issue department, Section 35 - Initial assets and liabilities, Section 36 - Method of dealing with fluctuations in rupee coin assets: RBI Act 1934

What is Liabilities of the issue department? What are Initial assets and liabilities? What is the Method of dealing with fluctuations in rupee coin assets? Section 34, 35 and 36 of Reserve Bank of India Act 1934

Section 34 of RBI Act 1934 : "Liabilities of the issue department"

(1) The liabilities of the Issue Department shall be an amount equal to the total of the amount of the currency notes of the Government of India and bank notes for the time being in circulation.

(2) [Omitted by the Banking Laws (Miscellaneous Provisions) Act, 1963, w.e.f 1-2-1964. Earlier, it was substituted by the Reserve Bank of India (Amendment) Act, 1957.

Section 34 of RBI Act: 1934 "Initial assets and liabilities"

Omitted by the Reserve Bank (Transfer to Public Ownership) Act, 1948, w.e.f. 1-1-1949.

Section 35 of RBI Act: 1934 "Method of dealing with fluctuations in rupee coin assets"

Omitted by the Banking Laws (Miscellaneous Provisions) Act, 1963, w.e.f. 1-2-1964. Earlier, it was amended by the Reserve Bank of India (Amendment) Act, 1951, w.e.f. 1-11-1951.