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Question
The ______ is the central bank of our country which has the authority to print currency notes.
Options
ICICI
RBI
PNB
HDFC
Solution
The RBI is the central bank of our country which has the authority to print currency notes.
Explanation:
- Generally, the central bank of a country has the monopoly to issue currency notes.
- Government grants the exclusive right to the central bank to issue notes on its behalf.
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RELATED QUESTIONS
Explain the functions of the RBI with respect to the following:
- Custodian of foreign exchange reserves.
- Monopoly of note issue.
- Clearing house facility.
- Banker and fiscal agent to the government.
Which of the following is/are the function(s) of central bank.
The main advantage of giving the monopoly right of note issue to the central bank is that it ______.
______ is the main function of central bank.
Identify which of the following is not the function of the central bank?
The central bank acts as ______.
Which of the following statements are true?
- The Reserve Bank of India is the central bank of the country.
- All currency notes (except one rupee note) bear the signature of Governor, RBI.
- The objective of the Reserve Bank of India is to earn profit.
Identify the function of RBI as indicated by the following image.
Give two reasons why the central banks enjoy monopoly of note issue.
Name the institution that enjoys the monopoly of note issue in India.
