Vidhi Codex

The Hyderabad Currency Demonetization (Consequential and Miscellaneous Provisions) Act, 1953

The Hyderabad Currency Demonetization (Consequential and Miscellaneous Provisions) Act, 1953

Finance19535 sections

This Act regulates the transition from Hyderabad’s historical currency to standard Indian Government rupees within the state of Telangana, starting in April 1953. It applies to all citizens, businesses, and government entities in the region, particularly those with active contracts, debts, or legal agreements originally written in the old currency. This law matters because it prevented economic disruption during India's integration process. By establishing a fixed exchange rate and a rounding system, it legally converted all existing financial obligations and laws into the new national currency, ensuring a seamless, fair, and legally binding transition to the unified Indian monetary system.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Provisions consequential on demonetization of Hyderabad O.S. Currency.
  3. 3. Rounding off.
  4. 4. Amendment of section 2, Act III of 1308 Fasli.
  5. 5. Removal of difficulties.

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