Question : The ___________ is responsible for the issue and supply of currency notes in India.
Option 1: Government of India
Option 2: Reserve Bank of India (RBI)
Option 3: Ministry of Finance
Option 4: State Bank of India (SBI)
Correct Answer: Reserve Bank of India (RBI)
Solution : The correct answer is (b) Reserve Bank of India (RBI).
The Reserve Bank of India (RBI) is responsible for the issue and supply of currency notes in India. As the central bank of the country, the RBI has the authority to issue and manage currency in India. It is responsible for designing, printing, distributing, and managing the supply of currency notes and coins throughout the country. The RBI plays a crucial role in ensuring an adequate supply of currency to meet the demand of the economy and maintains the integrity and security of the currency in circulation. The government of India (option a) and the Ministry of Finance (option c) have oversight and policy-making roles in relation to the currency, but the actual issuance and supply of currency notes are handled by the RBI. The State Bank of India (SBI) (option d) is a commercial bank operating in India and is not responsible for issuing currency notes.
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