Who issues currency note on behalf of the Central Government in India?
Show Hint
- Reserve Bank of India
- Government of India
- State Government
- Governor
The Correct Option is A
Solution and Explanation
Step 1: Issuance of Currency Notes in India
In India, the Reserve Bank of India (RBI) is the sole authority for issuing currency notes on behalf of the Central Government. According to the Reserve Bank of India Act, 1934, the RBI has the exclusive right to issue currency notes in India, except for the one-rupee note which is issued by the Government of India.
Step 2: Why the other options are incorrect
- (B) Government of India: The Government of India does not issue currency notes. It is the responsibility of the RBI.
- (C) State Government: The State Government does not have the authority to issue currency notes.
- (D) Governor: The Governor of the Reserve Bank of India is the head of the RBI, but the issuance of currency is done under the authority of the RBI, not the Governor alone.
Thus, the correct answer is option (A) Reserve Bank of India.
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