Edzy
Single Answer MCQ
Q-00045423

Who is authorized to issue currency notes in India?

1

Any individual

2

Reserve Bank of India

3

Commercial Banks

4

Goldsmiths

Reviewed & Verified by Edzy Expert

Sandeep Chaturvedi

Sandeep Chaturvedi

CBSE Social Science & Humanities Reviewer

Social science and humanities educator with 14+ years of experience reviewing CBSE SST, economics, commerce, arts, and vocational content.

M.A. HistoryM.A. Political ScienceB.Ed.

Answer and Solution

Answer

B. Reserve Bank of India

Solution:

In India, only the Reserve Bank of India is authorized to issue currency notes on behalf of the central government. No individual or organization can issue currency.

Watch Video Solution

Keep Practising

Students who asked this also explored

Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1

What are demand deposits?

Single Answer MCQ
View explanation
Q2

How does the banking system facilitate the use of money?

Single Answer MCQ
View explanation
Q3

What was the main reason for the demonetization in India in 2016?

Single Answer MCQ
View explanation
Q4

Why can modern currency act as a medium of exchange?

Single Answer MCQ
View explanation