Multiple choice

Under the provisions of Section 22 of RBI Act,

  1. RBI regulates the banks

  2. RBI conducts gov<font size="2">ernment</font> business

  3. RBI is the sole authority to issue and manage currency in India

  4. RBI issues note refund rules
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Section 22 of the RBI Act 1934 makes provided that RBI has the sole right to issue bank notes of all denominations. Thus, Reserve Bank is responsible for the design, production and overall management of the nation’s currency, with the goal of ensuring an adequate supply of clean and genuine notes.

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