Multiple Choice Questions on Choose the correct statements ndash 1 Denominations of Coins and Currency is decided by the Governme........... for IBPS (PO/SO) Preparation

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Multiple Choice Questions

Choose the correct statements ndash 1 Denominations of Coins and Currency is decided by the Governme...........

Professional Legal Knowledge RBI Act
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    Choose the correct statements –

    1.Denominations of Coins and Currency is decided by the Government of India

    2.But the number of coins and currency note is decided by the RBI.

    only 1

    Incorrect Answer

    only 2

    Incorrect Answer

    both 1 and 2

    Correct Answer

    neither 1 nor 2

    Incorrect Answer
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    Explanation:

    both 1 and 2

    Explanation:

    • Statement 1: The denominations of coins and currency are indeed decided by the Government of India. The government specifies the denominations of currency notes and coins issued by the Reserve Bank of India (RBI).

    • Statement 2: While the government decides the denominations, the RBI determines the quantity of coins and currency notes that are to be printed and put into circulation based on the demand and liquidity needs of the economy.

    Thus, both statements are correct.

    By: santosh
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