Explanation:

- Option 1: Central Bank

- The central bank of a country typically holds the exclusive authority to issue notes.

- It regulates the supply of currency to maintain economic stability.

- The central bank ensures that the value of money is preserved through policies.

- Option 2: Commercial Bank

- Commercial banks deal with providing financial services such as savings accounts and loans.

- They do not issue currency notes but facilitate circulation and productivity.

- Option 3: Government

- While the government oversees the monetary policy, it does not directly issue currency.

- Option 4: Co-operative Bank

- Co-operative banks are smaller, community-focused institutions offering banking services.

- They do not hold the authority to issue currency.

The right of note issue is typically with the Central Bank, as outlined in Option 1.