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Question : Which among the following is the sole note-issuing authority in India?

Option 1: Industrial Finance Corporation of India

Option 2: National Payments Corporation of India

Option 3: Reserve Bank of India

Option 4: State Bank of India


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Team Careers360 24th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Reserve Bank of India


Solution : The correct answer is the Reserve Bank of India.

As per Section 22 of the Act, the Reserve Bank of India (RBI) has the exclusive authority to issue banknotes in India. Section 25 empowers the central government to approve the design, form and material of banknotes based on recommendations from the Central Board of the RBI.

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