BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who among the following issues metallic coins in India?
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RBI
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Government of India
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Banks and financial institutions
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Any of the above can issue it.
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Explanation:
Detailed explanation-1: -The Government of India is the issuing authority of coins and supplies coins to the Reserve Bank on demand. The Reserve Bank puts the coins into circulation on behalf of the Central Government.
Detailed explanation-2: -(b) Coins are issued by the Government of India. Coins in India are issued by the Government of India.
Detailed explanation-3: -Metallic money are the money which are issued by the central bank of a country in form of metals that acts as an unlimited legal tender in the economy.
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