Question

Peter Printing Press printed Indian rupee notes for the people of its village. Comment on the validity of these notes.

• A. The notes can be exchanged for the legal Indian rupee notes.
• B. The notes can serve as money for the village.
• C. The notes can be used as currency throughout the country.
• D. The notes will be considered fake.

Answer 1

The correct option is D The notes will be considered fake.

The Reserve Bank of India is the only body that the Government of India authorises to issue currency throughout the country. Currency issued by any other authority is not valid. These notes will be considered fake, and they cannot be exchanged with any other note.