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Question : Identify the incorrect statement given below

Option 1: Present currency can work as money as it is a legal tender.

Option 2: Coins held by the public are limited legal tender.

Option 3: Central bank mints coins in India

 

Option 4: Central banks do not deal with the general public.


Team Careers360 22nd Jan, 2024
Answer (1)
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Team Careers360 24th Jan, 2024

Correct Answer: Central bank mints coins in India

 


Solution : The correct answer is (c). Central bank mints coins in India.

The central bank of India, the Reserve Bank of India (RBI), does not mint coins. The coins in circulation in India are minted by the Government of India's Security Printing and Minting Corporation of India Limited (SPMCIL).

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