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प्रश्न
______ are termed as Legal Tender Money.
विकल्प
Demand deposits
Time Deposits
Inter-bank deposits
Currency Notes
उत्तर
Currency Notes are termed as Legal Tender Money.
Explanation:
Currency notes are referred to as Legal Tender Money. This means they are legally recognized as a honest payment method for debt settlement and must be accepted in transactions. Paper currency and coins are both considered legal tender.
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संबंधित प्रश्न
Currency and ______ are two modern forms of money.
Who regulates money supply in India?
Which of the following institutions is authorised to issue currency in India?
Which one of the following is not a modern form of money?
Indian rupee is legal tender.
Read the-following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Currency and bank money are the two modern forms of money.
Reason (R): Currency is high powered money.
Match the following:
| Column I | Column II | ||
| A. | Currency | (i) | Something which is commonly used as medium of exchange |
| B. | Bank money | (ii) | Currency and demand deposits |
| C. | Money | (iii) | Bank demand deposits |
| D. | Modern form of money | (iv) | Paper notes + coins |
Why is money referred to as legal tender?
Distinguish between fiat money and bank money.
What is fiat money?
