Section 29 – Reserve Bank of India Act, 1934 HomeReserve Bank of India Act, 1934Section 29 – Reserve Bank of India Act, 1934 published by Advocate Shruti Goyal | April 3, 2025 Bank exempt from stamp duty on bank notes The Bank shall not be liable to the payment of any stamp duty under the Indian Stamp Act, 1899 (2 of 1899), in respect of bank notes issued by it.