Reserve Bank of India Act : Recovery of notes lost, stolen, mutilated or imperfect Indian Bare Acts :

Reserve Bank of India Act,1934

Act No : 2

Section : Recovery of notes lost, stolen, mutilated or imperfect

28. Recovery of notes lost, stolen, mutilated or imperfect.- 4*** Notwithstanding anything contained in any enactment or rule of law to the contrary, no person shall of right be entitled to recover from the 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 Central Government, prescribe 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 5* of 6*[Parliament]. 4* * * * *