Google News
logo
Today General Knowledge(GK)
In India, one-rupee coins and notes and subsidiary coins are issued by
A)
the Reserve Bank of India
B)
the State Bank of India
C)
the Central Govern-ment
D)
the Unit Trust of India

Correct Answer : Option (C) - the Central Govern-ment



Under Section 22 of the Reserve Bank of India Act, the Bank has the sole right to issue bank notes of all denominations. The distribution of one rupee notes and coins and small coins all over the country is undertaken by the Reserve Bank as agent of the Government. The one rupee note is issued by the Ministry of Finance and bears the signature of the secretary. The responsibility for coinage vests with Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The designing and minting of coins in various denominations is also attended to by the Government of India.

Published On : June 26, 2021
Category : Indian Economy
Advertisement