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Which of the following statements is false?
Demand deposits are not legal tender.
Currency notes issued are not legal tender.
Term deposits are not legal tender.
Wheat is not legal tender.
Option (2) is correct. Explanation: A legal tender is a type of money that the court of law need to see as a satisfactory payment of any financial debt. In India, the authentic legal tender of the Reserve Bank of India consists of coins and notes.
By: Parvesh Mehta ProfileResourcesReport error
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