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Foreign Exchange

In India is t...

Question

In India _______ is the sole authority of issue of currency.

A

SBI

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B

State Govt

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C

Central Govt

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D

RBI

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Solution

The correct option is D RBI
Reserve Bank of India(RBI) is the apex of the monetary and banking structure of the country that regulates and controls the entire banking system of India.Reserve Bank of India(RBI) has monopoly rights of issuing notes. This is called currency authority function of central banks. All notes issued by Reserve Bank of India(RBI) acts as a legal tender in India.

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