Multiple choice Who has the sole right to issue paper currency in India? Ministry of Finance Planning Commission Finance Commission Reserve Bank of India None of these Reveal answer Fill a bubble to check yourself D Correct answer Explanation Correct Answer: Reserve Bank of India. Banknotes in India are currently being issued in the denomination of ₹ 10, ₹ 20, ₹ 50, ₹ 100 ₹ 500, and ₹ 1000. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank).