BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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At present, the RBI issue notes in the denominations of Rs.
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1, 2, 5, 10, 20, 50, 100 and 500
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1, 2, 5, 10, 20, 50, 500 and 1000
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2, 5, 10, 20, 50, 100, 500 and 1000
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2, 5, 10, 20, 50, 100, 1000 and 10000
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Explanation:
Detailed explanation-1: -RBI can issue any note of any denomination but NOT exceeding Rs. 10, 000. The notes denomination is notified by Government and RBI acts accordingly. Under Section 22 of the Reserve Bank of India Act, RBI has sole right to issue currency notes of various denominations except one rupee notes.
Detailed explanation-2: -Members of public can exchange banknotes in ₹ 500 and ₹ 1000 denominations, whose legal tender status has been withdrawn, at Reserve Bank of India counters up to the current limits (Rs 2, 000 per day) per person as hitherto, the central bank said.
There is 1 question to complete.