31. Issue of demand bills and notes.- 2[ (1) ] No person in 3[ India] other than the Bank or, as expressly authorized by this Act, the Central Government shall draw, accept, make or issue any bill of exchange, hundi, promissory note or engagement for the payment of money payable to bearer on demand, or borrow, owe or take up any sum or sums of money on the bills, hundis or notes payable to bearer on demand of any such person: Provided that cheques or drafts, including hundis, payable to bearer on demand or otherwise may be drawn on a person' s account with a banker, shroff or agent.
(2) 4[ Notwithstanding anything contained in the Negotiable Instruments Act, 1881 (26 of 1881 ), no person in 3[ India] other than the Bank or, as expressly authorized by this Act, the Central Government shall make or issue any promissory note expressed to be payable to the bearer of the instrument.]
Mscs/cr/526/2012
when does a fiscal year in India end's on? a. feb 26 b.Jan 31 c. dec 31 d. mar 31
Dr. YV Reddy is the Governor of the RBI
Sir Osborne Smith was the first governor of RBI.
explain in detail rbi's measures of money supply
RBI stands for "runs batted in", the number of runs the player pushes across the plate with a hit, a walk, etc.
cosmetic n beauty products act
the banks which are not under the purview of second schedule of RBI Act.
RBI is a statutory body formed under the Reserve Bank of India Act 1934 and not a constitutional body.
Currency notes are promissory notes payable to the bearer on demand.section 31 of RBI ACT provides that no one other than RBI or Central Govt. Can issue a promissory note or bill of exchange payable to bearer on demand...hence no cheque works just as a currency note.
the banks which are not under the purview of second schedule of RBI Act.
the banks which are not under the purview of second schedule of RBI Act.
No. Constitution is silent on RBI as RBI was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934, whereas constitution was written after India's independence during 1947-1949. Nitin
The Securities and Exchange Commission (SEC) was established by Congress in 1934 to enforce the Securities Exchange Act of 1934.
This act created the Securities Exchange Commission (SEC) and required any brokers or dealers engaged in the exchange of securities to report these transactions to the SEC
a non scheduled bank is a bank which does not come under Rbi act 1949
Yes, HDFC is a scheduled bank which is listed in the second schedule of the RBI Act.