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Demonetization calls for the amendment of RBI Act soon

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It has been predicted that Government would now be amend the Reserve Bank of India Act because of the bold decision for Demonetization of 500 and 1000 rupee notes as there would be a law to make Rs. 500/1000 notes invalid and it can be made effective from March 31.

Section 26 (2) gave Govt. Such power, As per RBI Act Section 26 (2), the central government, on the recommendation of the Central Board of…

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Updated: December 12, 2016 — 9:25 am

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