Question

Describe briefly abput money used in India.

Answer 1

Coins - Coins in India are presently being issued in denominations of one rupee, two rupees, five rupees and ten rupees. Coins in the denomination of 1 Paise, 2 Paise, 3 Paise, 5 Paise, 10 Paise, 20 Paise and 25 Paise have been withdrawn from circulation with effect from June 30, 2011 and are, therefore, no more legal tender.

Currency - Banknotes in India are currently being issued in the denomination of Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank). The printing of notes in the denominations of Rs 2 and Rs 5 has been discontinued as these denominations have been coinised.  Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of Rs 500 and Rs 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016. Currency paper is composed of cotton and cotton rag.

The highest denomination note ever printed by the Reserve Bank of India was the ₹ 10000 note in 1938 and again in 1954. These notes were demonetized in 1946 and again in 1978.

Hope it helps you

Answer 2

Explanation:

coins in India are presently being issued in denomination of 1 rupees,2 rupees and 10 rupees . coins in the denomination of 1paise 3 paise 2paise 5paise 10 paise 20 paise and 25 paise have been withdrawn from circulation with effect from June 30 2011 and are therefore no more legal tender .

currency- banknotes in India are currently being issued in the demonstration denomination of rupees 10 rupees 20 rupees rupees 50 rupees hundred rupees 200 rupees 500 rupees 2000 Rs notes are called banknotes as they are issued by the Reserve Bank of India Reserve Bank the printing of the nodes in these denomination of rupees 200 Rs 5 and has been rented as this denominations have been Government of India white they not creations number 265 to detect a number 1 number 8 2016 have withdrawn the legal tender status of rupees 500 and 1000 nation of Bank notes of the Mahatma Gandhi series issued by the Reserve Bank of India till November 8 2016 currency paper is composed of cotton and cotton drag the highest denomination note over printed by the Reserve Bank of India was the rupees 1000 note in 1938 and again in 1954 the node birthday Noman ties in 1956 and again in 1978