No, a shop cannot refuse a legal tender. Legally it should be accepted. Hence it is known as legal tender. However, there is no obligation to legally accept a non-legal tender.You can read about the RBI – Know More About Reserve Bank of India in the given link.
Further readings:
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Related Links |
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Black Money: Definition, Sources & Measures to Curb Black Money |
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Money Supply in Economy – Types of Money, Monetary Aggregates, Money Supply Control |
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