BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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sect-27
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sect-8
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sec-20
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sec-18
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None
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Detailed explanation-1: -The Bank shall not re-issue bank notes which are torn, defaced or excessively spoiled.
Detailed explanation-2: –The Bank shall not re-issue bank notes which are torn, defaced or excessively spoiled.
Detailed explanation-3: -28A. Issue of special bank notes and special one rupee notes in certain cases. 29.
Detailed explanation-4: -In terms of Section 22 of the Act, Reserve Bank has the sole right to issue banknotes in India. Section 25 states that the design, form and material of bank notes shall be such as may be approved by the Central Government after consideration of the recommendations made by the Central Board of RBI.
Detailed explanation-5: -In terms of Section 20 of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union.