Consider the following statements:
1) The printing of notes is the total management of Reserve Bank of India.
2) The volume of rupee coins and smaller coins are controlled by the Ministry of Finance.
Which of the statements given above is/are correct?

Only 1

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Only 2

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Both 1 and 2

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Neither 1 nor 2

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Solution

The correct option is A Only 1
As per RBI Act, minting of currency except for one rupee notes and coins is the responsibility of the RBI.
As per Coinage Act, Ministry of Finance, Government of India has the responsibility of minting coins. However, the Government doesn't control the volume and circulation of coins.

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Consider the following statements: 1) The printing of notes is the total management of Reserve Bank of India.2) The volume of rupee coins and smaller coins are controlled by the Ministry of Finance.Which of the statements given above is/are correct?

Consider the following statements:
1) The printing of notes is the total management of Reserve Bank of India.
2) The volume of rupee coins and smaller coins are controlled by the Ministry of Finance.
Which of the statements given above is/are correct?