GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1860
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1861
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1862
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1863
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Detailed explanation-1: -Currency Act, 1871 “ : It extends to the whole of Britisli India; I ocal extent.
Detailed explanation-2: -British India Issues commence with the Paper Currency Act of 1861 which gave the Government the monopoly of note issue in India.
Detailed explanation-3: -Complete answer: The first paper currency note, i.e. the 10 rupees’ note was introduced by the Government of India in the year 1861. In the following years, many notes of different denominations were introduced. All these notes were issued by the Government of India.
Detailed explanation-4: -An Act to provide for a Government Paper Currency. An Act to enable the Banks of Bengal, Madras and Bombay to enter into arrangements with the Government, for managing the issue, payment and exchange of Government Currency Notes and certain business hitherto transacted by the Government Treasuries.