RBI Act 24Chapter III · Central Banking Functions
Section 24 · Denominations of notes
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1[24. Denominations of notes.--(1) Subject to the provisions of sub-section (2) bank notes shall be
of the denominational value to two rupees, five rupees, ten rupees, twenty rupees, fifty rupees, one
hundred rupees, five hundred rupees, one thousand rupees, five thousand rupees and ten thousand rupees
or of such other denominational values, not exceeding ten thousand rupees, as the Central Government
may, on the recommendation of the Central Board, specify in this behalf.
(2) The Central Government may, on the recommendation of the Central Board, direct the non-issue or the discontinuance of issue of bank notes of such denominational values as it may specify in this behalf.]
(2) The Central Government may, on the recommendation of the Central Board, direct the non-issue or the discontinuance of issue of bank notes of such denominational values as it may specify in this behalf.]
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