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Characteristics of Money

is authorized...

Question

__________is authorized to issue currency in India.

A

Commercial Bank

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B

Reserve Bank of India

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C

NABARD

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D

Prime Minister

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Solution

The correct option is B Reserve Bank of India

The Reserve Bank of India has the sole right to issue currency notes except one rupee note which is issued by the Ministry of Finance. Currency notes issued by the Reserve Bank is declared unlimited legal tender throughout the country.
Hence, option (B) is the correct answer.

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