BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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token coin
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standard-token coin
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standard coin
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gold coin
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Detailed explanation-1: -The rupee is the standard unit of money in India, but its face value is greater today than its real value. Nor is the rupee subject to free coinage. It cannot, therefore, be called standard money. It is a mixture of the standard and token money.
Detailed explanation-2: -: a coin having an intrinsic value equal to its face value compare token coin.
Detailed explanation-3: -Coins in India are presently being issued in denominations of 50 paise, one rupee, two rupees, five rupees, ten rupees and twenty rupees. Coins up to 50 paise are called ‘small coins’ and coins of Rupee one and above are called ‘Rupee Coins’.
Detailed explanation-4: -These refer to small coins of various denominations, which are issued to facilitate day-to-day requirements of the people. All Indian coins, like those of Rs 10, 5, 2 or 1, are token coins since their value as money is more than value of metal contained in them.