2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Union Finance Ministry has given permission to Reserve Bank of India (RBI) to conduct field trials of plastic (polymer-based) currency notes of _________ denominations
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Rs 5
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Rs 10
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Rs 20
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Rs 100
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Explanation:
Detailed explanation-1: -Banknotes in India are currently being issued in the denomination of ₹10, ₹20, ₹50, ₹100 ₹200, ₹500, and ₹2000. These notes are called banknotes as they are issued by the Reserve Bank of India.
Detailed explanation-2: -All banknotes issued by RBI are backed by assets such as gold, Government Securities and Foreign Currency Assets, as defined in Section 33 of RBI Act, 1934. 1.
Detailed explanation-3: -The first Central Office of the Reserve Bank of India Section 22 of the RBI Act, 1934, empowered it to continue issuing Government of India notes till its own notes were ready for issue.
Detailed explanation-4: -Section 22 in The Reserve Bank of India Act, 1934.
There is 1 question to complete.