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Which one of the following is the sole authority of issuing new currency in India?

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Question

Which one of the following is the sole authority of issuing new currency in India?

Options

  • Central Government

  • RBI

  • State Governments

  • None of these

MCQ
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Solution

RBI

Explanation:

The RBI has the authority to issue currency notes in India, with the exception of the one-rupee note, which is issued by the Central Government. State Governments do not issue currency.

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Chapter 13: Money: Meaning and Functions - TEST YOURSELF QUESTIONS [Page 264]

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Frank Economics [English] Class 12 ISC
Chapter 13 Money: Meaning and Functions
TEST YOURSELF QUESTIONS | Q 14. | Page 264
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