BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Who is the issuing authority of coins in India?
|
|
Reserve Bank of India
|
|
|
Government of India
|
|
|
Ministry of Finance
|
|
|
Both 1 and 2
|
Explanation:
Detailed explanation-1: -The Reserve Bank is the agent of the Government for distribution, issue and handling of coins. Four mints are in operation: Mumbai in Maharashtra, Noida in Uttar Pradesh, Kolkata, and Hyderabad.
Detailed explanation-2: -The Reserve Bank of India issues notes and coins on behalf of the state banks. Q. The Reserve Bank of India issues currency notes and coins in India.
Detailed explanation-3: -The coins are issued for circulation only through the Reserve Bank in terms of Section 38 of the RBI Act.
There is 1 question to complete.