English

What is a ‘legal tender’?

Advertisements
Advertisements

Question

What is a ‘legal tender’? 

Very Short Answer
Advertisements

Solution

'Legal tender’ refers to the currency notes and coins being issued by the monetary authorities of India (RBI and the government of India) as a legal medium of payment.

shaalaa.com
  Is there an error in this question or solution?
Chapter 3: Money And Banking - Exercises [Page 50]

APPEARS IN

NCERT Economics Introductory Macroeconomics [English] Class 12
Chapter 3 Money And Banking
Exercises | Q 5. (i) | Page 50
Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×