GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 1000
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Rs. 5000
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Rs. 10000
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Rs. 13000
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Detailed explanation-1: -RBI can issue any note of any denomination but NOT exceeding Rs. 10, 000. The notes denomination is notified by Government and RBI acts accordingly. Under Section 22 of the Reserve Bank of India Act, RBI has sole right to issue currency notes of various denominations except one rupee notes.
Detailed explanation-2: -The Federal Reserve Board currently issues $1, $2, $5, $10, $20, $50, and $100 notes. The largest denomination Federal Reserve note ever issued for public circulation was the $10, 000 note.
Detailed explanation-3: -They are part of the series of discontinued Indian Rupee banknotes. In 1949, the Reserve Bank of India began printing these 10000 Indian Rupee banknotes, which were taken out of circulation in 1978. The Rs 10, 000 banknote was once India’s biggest denomination currency.