Question : Identify the incorrect statement given below:
Option 1: Present currency can work as money as it is a legal tender.
Option 2: Coins held by the public are limited legal tender.
Option 3: Central bank prints currency in India.
Option 4: Central banks do not deal with the general public.
Correct Answer: Central bank prints currency in India.
Solution : The correct answer is (c). Central bank prints currency in India.**
The central bank of India, the Reserve Bank of India (RBI), does not print currency. The currency in India is printed by the Government of India Security Printing and Minting Corporation (SPMC). The RBI is responsible for issuing currency, but it does not print it.
The other statements are all correct. Currency is a legal tender, which means that it must be accepted as payment for debts. Coins held by the public are limited legal tender, which means that they can only be used to pay debts up to a certain amount. Central banks do not deal with the general public, but they do interact with commercial banks and other financial institutions.
Question : Identify the incorrect statement given below
Question : Choose the incorrect statement from given below:
Question : Regarding the money supply situation in India in 2014-15, it can be said that the:
Question : As per the merger of public sector banks, effective from 1 April 2020, which of the following banks was merged with the Union Bank of India?
Question : Which money market instrument is highlighted in the given statement? Statement: They are generally used by commercial banks to maintain minimum cash balance with Reserve Bank of India.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile