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(1) The Liabilities of the Issue Department shall be an amount
equal to the total of the amount of the currency notes of the Government of India and bank notes for the
time being in circulation.
1* * * * *
2* * * * *
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1. Sub-section (2) omitted by Act 55 of 1963, s. 2 (w.e.f. 1-2-1964).
2. Sub-section (3) omitted by s. 2, ibid. (w.e.f. 1-2-1964) which was earlier inserted by the M.O. 1937.