RBI has the sole right to issue Bank Note as per_________.
RBI has the sole right to issue Bank Note as per_________.
1). Section 22 of the RBI Act 1934
2). Section 21 of the RBI Act 1934
3). Section 20 of the RBI Act 1934
4). Section 19 of the RBI Act 1934
1 answers
Section 22 of the RBI Act 1934 makes provided that RBI has the sole right to issue Bank notes of all denominations. Thus, Reserve Bank is responsible for the design, production and overall management of the nation’s currency, with the goal of ensuring an adequate supply of clean and genuine notes. At present, paper currency notes in India are issued in the denomination of Rs. 5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.2,000.
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