ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Governer of RBI
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President
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Finance Secretary
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Finance Minister
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Detailed explanation-1: -Under Section 22 of the Reserve Bank of India Act, RBI has the sole right to issue currency notes of various denominations except one rupee note . The One Rupee note is issued by the Ministry of Finance and it bears the signatures of the Finance Secretary.
Detailed explanation-2: -The design of the One Rupee Currency Notes will be as under: Obverse: It contains the words ‘ ’ above the words “Government of India” with the bilingual signature of Shri Ratan P.
Detailed explanation-3: -As a result, the one rupee note is the only note bearing the signature of the Finance Secretary and not the Governor of the RBI.
Detailed explanation-4: -1 notes and coins in India. Under Section 22 of the Reserve Bank of India Act, the Reserve Bank of India has sole authority to issue currency notes of various denominations, excluding one rupee note. The Ministry of Finance issues the one rupee note and coins, which bear the signature of the Finance Secretary.
Detailed explanation-5: -The one rupee note and coins are issued by ministry of finance and it bears the signature of Finance Secretary.