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CHAPTER III CENTRAL BANKING FUNCTIONS

Section 38: Obligations of Government and the Bank in respect of rupee coin

The Reserve Bank of India Act, 1934

The 1 [Central Government] shall undertake not 2*** to put into circulation any rupees, except through the Bank, 3*** and the Bank shall undertake not to dispose of rupee coin otherwise than for the purposes of circulation 4***.

Footnotes in the official text

  1. 1.Subs. by the M.O. 1937, for “G.G. in C”.
  2. 2.The words and figures “to re-issue any rupee coin delivered under section 36 nor” omitted by Act 55 of 1963, s. 4 (w.e.f. 1-2- 1964).
  3. 3.The words “and as provided in that section” omitted by Ordinance 4 of 1940, s. 3.
  4. 4.The words “or by delivery to the Central Government under that 4sections” omitted by Act 55 of 1963, s. 4 (w.e.f. 1-2-1964).

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