In India, coins of ₹ 5 and ₹ 10 are issued by:

Question

2.28K viewsJanuary 3, 2024MCQs (M&B)Money and Banking

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Anurag Pathak30.76K January 3, 2024 0 Comments

(a) Reserve Bank of India

(b) Ministry of Finance

(c) State Bank of India

(d) None of these

score 0 · Answer 1 · 2024-01-03T15:50:39+00:00

Ans – (b)

Explanation:-

The Ministry of Finance department of the Government of India has the sole right to mint coins.

The Coinage Act, of 1906 authorized the responsibility for coinage the coins to the government of India.

All kinds of coin denominations are designed and minted by the Ministry of finance.

Additional Information:-

However, coins are issued and minted by the government of India. But circulated only through the Reserve Bank as per the RBI Act.

Coins are minted at the four India Government Mints at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad), and Noida (UP).