BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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20
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50
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3, 000
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1, 000
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Detailed explanation-1: -The Reserve Bank of India The RBI is permitted to print currency up to 10, 000 rupee notes. To deter counterfeiting and fraud, the Indian government withdrew the 500 and 1, 000 rupee notes from circulation in 2016.
Detailed explanation-2: -After maintaining the Minimum reserve the RBI can print any number of currency notes as per the requirement of the economy. Although RBI has to take prior permission from the government.
Detailed explanation-3: -Banknotes in India are currently being issued in the denomination of ₹10, ₹20, ₹50, ₹100 ₹200, ₹500, and ₹2000. These notes are called banknotes as they are issued by the Reserve Bank of India.
Detailed explanation-4: -So printing of money should always match the total production of goods and services in the country or else inflation can destroy the economy. Inflation is the increase in the prices of goods and services over time.