Challenger App

No.1 PSC Learning App

1M+ Downloads
Which monetary function of RBI relates to printing and issuing currency notes?

ABanker to Government

BCredit control

CIssue of currency notes

DCustodian of foreign exchange

Answer:

C. Issue of currency notes

Read Explanation:

RBI is the sole authority to issue all currency notes in India (except the ₹1 note issued by the Government of India). This function ensures adequate supply of currency in the economy to meet transactional needs.


Related Questions:

Public sector banks introduced the scheme of Differential Rate of Interest in the year
For initiating recovery proceedings under the SARFAESI Act, the minimum amount outstanding in the account should be
Who among the following can be a nominee?

Assertion (A): A bank renting a locker is a lessor.
Reason (R): The locker facility is provided on a rent basis.

Assertion (A): Garnishee Order does not apply to future deposits.

Reason (R): Garnishee Order attaches only funds due at the time of receipt.