Section 28
Recovery of notes lost, stolen, mutilated or imperfect.
The Reserve Bank of India Act, 1934
About this Act
An Act to Constitute a Reserve Bank of India.
1*** Notwithstanding anything
contained in any enactment or rule of law to the contrary, no person shall of right be entitled to recover
from the 2[Central Government] or the Bank, the value of any lost, stolen, mutilated or imperfect currency
note of the Government of India or bank note:
Provided that the Bank may, with the previous sanction of the 2[Central Government], prescribed the circumstances in and the conditions and limitations subject to which the value of such currency notes or bank notes may be refunded as of grace and the rules made under this proviso shall be laid on the table 3*** of 4[Parliament].
5* * * * *
Provided that the Bank may, with the previous sanction of the 2[Central Government], prescribed the circumstances in and the conditions and limitations subject to which the value of such currency notes or bank notes may be refunded as of grace and the rules made under this proviso shall be laid on the table 3*** of 4[Parliament].
5* * * * *
Notes
1. The brackets and figure "(1)" omitted by Act 11 of 1947, s. 15 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937.
2. Subs. by the M.O. 1937, for "G.G. in C.".
3. The words "of both Houses" omitted by the A.O. 1948.
4. Subs. by the A.O. 1950, for "the Central Legislature".
5. Sub-section (2) omitted by Act 11 of 1947, s. 15 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937.
2. Subs. by the M.O. 1937, for "G.G. in C.".
3. The words "of both Houses" omitted by the A.O. 1948.
4. Subs. by the A.O. 1950, for "the Central Legislature".
5. Sub-section (2) omitted by Act 11 of 1947, s. 15 (w.e.f. 1-4-1947) which was inserted by the M.O. 1937.