Section 39: Obligation to supply different forms of currency.

The Reserve Bank of India Act, 1934Central Act · Act 2 of 1934

(1) The Bank shall issue rupee coin on demand in exchange for bank notes and currency notes of the Government of India and shall issue currency notes or bank notes on demand in exchange for coin which is legal tender under the Indian Coinage Act, 1906 (3 of 1906).

(2) The Bank shall, in exchange for currency notes or bank notes of [two] rupees or upwards, supply currency notes or bank notes of lower value or other coins which are legal tender under the Indian Coinage Act, 1906 (3 of 1906), in such quantities as may, in the opinion of the Bank, be required for circulation; and the [Central Government] shall supply such coins to the Bank on demand. If the [Central Government] at any time fails to supply such coins, the Bank shall be released from its obligations to supply them to the public.

Where this provision sits

Act	The Reserve Bank of India Act, 1934
Section	39
Marginal note	Obligation to supply different forms of currency.
Jurisdiction	Central
Status	In force as published by the source
Judgments citing it	1

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

substituted. . Subs. by the M.O. 1937, for "G.G. in C".
substituted, Act 62 of 1948. . Subs. by Act 62 of 1948, s. 7 and the Schedule, for "five" (w.e.f. 1-1-1949).

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