BANKING AFFAIRS

Detailed explanation-1: -The value of the currency in circulation (or public holding of cash) stood at ₹ 32.42 lakh crore as on December 23, 2022, according to Reserve Bank data.

Detailed explanation-2: -The Indian 1-rupee note (₹1) is made up of hundred 100 paise as ₹1 = 100 paise. Currently, it is the smallest Indian banknote in circulation and the only one being issued by the Government of India, as all other banknotes in circulation are issued by the Reserve Bank of India.

Detailed explanation-3: -Currency-Banknotes in India are currently being issued in the denomination of Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank).