SSC MTS EXAM

SSC

INDIAN ECONOMY

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Who is responsible for the supply of coins in the India?

A	Reserve bank Of India
B	Ministry of finance
C	Ministry of commerce and industry
D	Banker’s association of India

Explanation:

Detailed explanation-1: -The Reserve Bank of India issues currency notes and coins in India.

Detailed explanation-2: -Ministry of Finance is responsible for issuing Re. 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.

Detailed explanation-3: -Reserve bank of India has the sole right to issue currency notes of various denominations except one rupee notes under Section 22 of Reserve bank of India Act. The one rupee note and coins are issued by ministry of finance and it bears the signature of Finance Secretary. Was this answer helpful?

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