Which of the following has the sole right of issuing currency (except one rupee coin and notes) in India?
Options:
A . The Planning Commi-ssion
B . The Government of India
C . The State Bank of India
D . The Reserve Bank of India
Answer: Option D Answer: (d) The Reserve Bank of India has the sole right or authority or monopoly of issuing currency notes except one rupee note and coins of a smaller denomination. These currency notes are legal tender issued by the RBI. Currently it is in denominations of Rs. 2, 5, 10, 20, 50, 100, 500, and 1,000. The RBI has powers not only to issue and withdraw but even to exchange these currency notes for other denominations. It issues these notes against the security of gold bullion, foreign securities, rupee coins, exchange bills and promissory notes and government of India bonds.
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