GK
CURRENCIES OF THE WORLD
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who decides on the quantity of the coins in India to be minted -
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the government of India
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RBI
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Either (A) or (B)
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all of the above
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Explanation:
Detailed explanation-1: -The government decides on the quantity of coins to be minted on the basis of indents received from the RBI on a yearly basis. Coins are minted in four mints owned by the Government of India in Mumbai, Hyderabad, Kolkata and Noida.
Detailed explanation-2: -The government has the sole right to mint coins in India. Q. Who is responsible for designing and minting coins in India?
Detailed explanation-3: -Coins are minted by the Government of India. 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.
There is 1 question to complete.