BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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10 paise
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20 paise
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25 paise
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1.00 Rupee
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Detailed explanation-1: -Facts about Re 1 note Printing of the note was discontinued in 1994 because of high printing cost and after a gap of 22 years in 2015, it was reintroduced. Issued as a promissory note, the one rupee paper currency was printed in England.
Detailed explanation-2: -RBI is the central bank of India. It has the sole authority to issue coins and notes but it does not issue coins of the following denominations: rupee 1, 20 paisa and 25 paisa.
Detailed explanation-3: -Coins are minted in four mints owned by SPMCIL. The mints are located at Mumbai, Hyderabad, Kolkata and NOIDA. The coins are issued for circulation only through the Reserve Bank in terms of Section 38 of the RBI Act.
Detailed explanation-4: -The Indian government is solely responsible for minting coins. 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.