Question

Two statements are given below. They are Assertion (A) and Reason (R). Read both the statements carefully and choose the correct option. Assertion (A): Rupees is accepted as medium of exchange in India.
Reason (R): The World Bank legalises the use of rupee as a medium of payment in India.

• A. Both (A) and (R) are correct and (R) is the correct explanation of (A).
• B. Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
• C. (A) is correct, but (R) is incorrect.
• D. (A) is incorrect, but (R) is correct.

Hint:

Remember that the RBI, not the World Bank, is responsible for currency regulation in India.

Answer 1

The Correct Option is C

The assertion is correct that the rupee is accepted as the medium of exchange in India.
However, the reason that "The World Bank legalises the use of rupee as a medium of payment in India" is incorrect, as the Reserve Bank of India (RBI) is the authority for regulating the use of the rupee.
Hence, the correct answer is option (C).