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प्रश्न
Answer the following question:
“Central Bank of the country has the monopoly of note issue.” Explain.
उत्तर
In India, The Central Bank is the sole entity that can print currency notes. In other words, the central bank of a country has exclusive authority to issue currency. The currency issued by the central bank is known as 'legal tender money' i.e. the value of such currency is backed by the central bank. Since, issuance of notes is exclusively reserved for the central bank, it can be said that the Central bank of a country has the monopoly over the issuance of notes.
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संबंधित प्रश्न
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Fiscal agent of the government.
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