____ has the authority to issue new currency in India
____ has the authority to issue new currency in India.
(a) Reserve Bank of India
(b) Ministry of Finance, Government of India
(c) Both (a) and (b)
(d) Neither (a) nor (b)
Anurag Pathak Changed status to publish January 5, 2024
Ans – (c)
Explanation:-
The Reserve bank of India is authorised to issue the paper current notes except one rupee note.
Ministry of Finance is authorized to issue one rupee note and coins of all denominations.
The coins issued by the Government of India under Section 6 of The Coinage Act, 2011, shall be legal tender in payment or on account provided that a coin has not been defaced and has not lost weight so as to be less than such weight as may be prescribed in its case.
Every banknote issued by the Reserve Bank of India (₹2, ₹5, ₹10, ₹20, ₹50, ₹100, ₹200, ₹500, and ₹2000), unless withdrawn from circulation, shall be legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central Government, subject to provisions of sub-section (2) Section 26 of RBI Act, 1934.
Anurag Pathak Changed status to publish January 5, 2024
